studies analyzing the relative capital-skill complementarity hypothesis formulated by GRILICHES (1969). According to this … hypothesis, the degree of substitutability between skilled labor and capital is lower than that for unskilled labor and capital …

We use the elements of a macroeconomic production function—physical capital, human capital, labor, and technology …, societal norms, and institutions. Religion affects physical capital accumulation by influencing thrift and financial … development. It affects human capital through both religious and secular education. It affects population and labor by influencing …