Holy cows and spilled milk: The impact of religious missions on firm-level productivity
Journal of Development Economics · 2026 · Jeanet Bentzen、Nina Boberg‐Fazlić、Paul Sharp、Christian Volmar Skovsgaard、Christian Vedel
中文摘要
宗教传教活动是否影响了企业层面的生产率？本研究考察了20世纪初丹麦内部传教运动（Inner Mission, IM）对生产率的影响。丹麦当时是一个以新教为主、同质性较高且正经历快速工业化的社会。我们利用964家乳品厂的数据，采用工具变量方法，提供证据表明，以牛奶-黄油比率衡量，IM强度降低了黄油生产的生产率。主要机制是周日歇业破坏了规模经济，以及农民之间因教义分歧导致的乳品厂分裂。这些干扰阻碍了乳品厂高效运营，并降低了其盈利能力。我们的结果表明，在不存在通常的殖民或传教混杂因素的情况下，宗教性如何塑造了现代化和工业发展的模式。这一历史案例回应了发展经济学中关于非正式制度和道德监管如何约束企业行为与生产率的争论。
• 宗教传教活动会制约企业生产率与现代化进程。
• 证据来自早期工业化时期964家丹麦乳品厂。
• 内部传教运动通过周日歇业和企业纠纷降低了效率。
• 生产率损失相当于农民分红的显著份额。
• 凸显了非正式制度如何塑造经济发展。
Abstract
Did religious missions influence firm-level productivity? This study examines the impact of the Inner Mission (IM) movement on productivity in early twentieth-century Denmark, a predominantly Protestant and homogeneous society undergoing rapid industrialization. Using data on 964 creameries and employing an instrumental variables approach, we provide evidence that IM intensity reduced productivity in butter production, measured by the Milk-to-Butter ratio. The main mechanisms were Sunday closures, which disrupted economies of scale, and the fragmentation of creameries due to doctrinal disagreements among farmers. These disruptions prevented creameries from operating efficiently and reduced their profitability. Our results show how religiosity shaped patterns of modernization and industrial development absent the usual colonial or missionary confounders. This historical case speaks to debates in development economics about how informal institutions and moral regulation can constrain firm behavior and productivity. • Religious missions can constrain firm productivity and modernization. • Evidence from 964 Danish creameries during early industrialization. • Inner Mission reduced efficiency via Sunday closures and firm disputes. • Productivity losses equaled significant shares of farmer dividends. • Highlights how informal institutions shape economic development.