This study responds to the need for more empirical knowledge pertaining to the effect of religion on development efforts. We use data from the microfinance industry to study performance differences between Christian and secular Microfinance Institutions (MFIs). We find that Christian MFIs have...

This study responds to the need for more empirical knowledge pertaining to the effect of religion on development efforts. We find that Christian Microfinance Institutions (MFIs) have significantly lower funding costs and consistently underperform in terms of financial profit indicators. Contrary...