Islam and prosperity, part II
The hypothesis that the coefficients on variables of religious affiliation are jointly equal to zero can frequently be rejected at levels of statistical significance (i.e., religion matters), but no robust relationship between adherence to major world religions and national economic performance is uncovered, using both cross-national and subnational data. The results with respect to Islam do not support the notion that it is inimical to growth. On the contrary, virtually every statistically significant coefficient on Muslim population shares reported in this paper — in both cross-country and within-country statistical analyses — is positive. If anything, Islam promotes growth.
Yes and they do control for oil wealth. Here is the paper. Here is my previous post on the topic. Thanks to Asif Dowla for the pointer.