Religion interacts with political economy in two ways: as a dependent variable, it is influenced by economic development and political institutions; as an independent variable, it affects individual traits like work ethic and honesty, influencing economic performance. This paper reviews previous studies and focuses on ongoing quantitative research using international data. Religion as a dependent variable is analyzed through demand-side and supply-side models. The secularization model suggests that economic development reduces religious participation and beliefs. The religion market model, influenced by Adam Smith, argues that government regulation and subsidies affect the quality and variety of religious services. The U.S. has a free religion market with diverse offerings, leading to high participation. Religion as an independent variable, as seen in Weber's work, influences economic outcomes through traits like work ethic and thrift. However, the social-capital/cultural perspective views religion as a means to build social networks, which may not capture its unique influence on beliefs and values. Religion is considered sui generis, with beliefs in salvation, damnation, and nirvana influencing behavior. These beliefs can enhance productivity or promote anti-social actions. The analysis of major world religions shows varying levels of salvific merit, affecting economic incentives. Quantitative analysis of international data shows that beliefs in hell and an afterlife are highest among Muslims and other Christians. The study uses cross-country data to test theories of religion as a dependent and independent variable. Results indicate that higher per capita GDP is associated with lower religiosity, supporting secularization theories. State religion is positively related to religious participation and beliefs, while government regulation of the religion market is negatively related to religiosity. Religious pluralism is positively related to monthly attendance at formal services but not to personal prayer or beliefs. Contemporaneous communism has a negative effect on religiosity, while ex-communism shows a rebound in beliefs and religiousness. The U.S. is an outlier with high religiosity despite high GDP, suggesting that other factors influence religiosity. Religious beliefs, particularly belief in hell, have a positive effect on economic growth, while monthly attendance has a negative effect. These findings support the idea that beliefs related to an afterlife are crucial for economic influences. The analysis highlights the complex relationship between religion and economic growth, emphasizing the role of beliefs in shaping economic outcomes.Religion interacts with political economy in two ways: as a dependent variable, it is influenced by economic development and political institutions; as an independent variable, it affects individual traits like work ethic and honesty, influencing economic performance. This paper reviews previous studies and focuses on ongoing quantitative research using international data. Religion as a dependent variable is analyzed through demand-side and supply-side models. The secularization model suggests that economic development reduces religious participation and beliefs. The religion market model, influenced by Adam Smith, argues that government regulation and subsidies affect the quality and variety of religious services. The U.S. has a free religion market with diverse offerings, leading to high participation. Religion as an independent variable, as seen in Weber's work, influences economic outcomes through traits like work ethic and thrift. However, the social-capital/cultural perspective views religion as a means to build social networks, which may not capture its unique influence on beliefs and values. Religion is considered sui generis, with beliefs in salvation, damnation, and nirvana influencing behavior. These beliefs can enhance productivity or promote anti-social actions. The analysis of major world religions shows varying levels of salvific merit, affecting economic incentives. Quantitative analysis of international data shows that beliefs in hell and an afterlife are highest among Muslims and other Christians. The study uses cross-country data to test theories of religion as a dependent and independent variable. Results indicate that higher per capita GDP is associated with lower religiosity, supporting secularization theories. State religion is positively related to religious participation and beliefs, while government regulation of the religion market is negatively related to religiosity. Religious pluralism is positively related to monthly attendance at formal services but not to personal prayer or beliefs. Contemporaneous communism has a negative effect on religiosity, while ex-communism shows a rebound in beliefs and religiousness. The U.S. is an outlier with high religiosity despite high GDP, suggesting that other factors influence religiosity. Religious beliefs, particularly belief in hell, have a positive effect on economic growth, while monthly attendance has a negative effect. These findings support the idea that beliefs related to an afterlife are crucial for economic influences. The analysis highlights the complex relationship between religion and economic growth, emphasizing the role of beliefs in shaping economic outcomes.