{"id":291817,"date":"2025-06-14T00:43:44","date_gmt":"2025-06-14T00:43:44","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/investing\/popes-are-good-for-business\/"},"modified":"2025-06-14T00:43:44","modified_gmt":"2025-06-14T00:43:44","slug":"popes-are-good-for-business","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=291817","title":{"rendered":"Popes are good for business"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div dir=\"auto\">\n<p>If you are not catholic, you may wonder what popes are good for? It\u2019s the Head of State of the world\u2019s smallest country who spends most of his time in his renaissance palace and occasionally steps out on a balcony to bless the world but otherwise is busy promoting the most conservative social views possible.<\/p>\n<p><span>But clearly, I completely misunderstood the role of the pope and I thank <\/span><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=5182930\" rel=\"\">Alexander Popov<\/a><span> for enlightening me. He looked at the global travels of pope John Paul II. who was in office for 26 years from 1979 to 2005. During his papacy, he visited 129 countries, more than the 263 popes before him combined, which gave him the nickname \u2018the flying pope\u2019. The map below shows that he really had a knack for travelling.<\/span><\/p>\n<p>Countries visited by the pope marked by the decade of the pope\u2019s first visit<\/p>\n<div class=\"captioned-image-container\">\n<figure><a target=\"_blank\" href=\"https:\/\/substackcdn.com\/image\/fetch\/f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa087c6e3-9d4e-49f9-b68e-ff0cdb38bd0f_1301x663.png\" data-component-name=\"Image2ToDOM\" rel=\"\" class=\"image-link image2 is-viewable-img\"><\/p>\n<div class=\"image2-inset\"><picture><source type=\"image\/webp\" srcset=\"https:\/\/substackcdn.com\/image\/fetch\/w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa087c6e3-9d4e-49f9-b68e-ff0cdb38bd0f_1301x663.png 424w, https:\/\/substackcdn.com\/image\/fetch\/w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa087c6e3-9d4e-49f9-b68e-ff0cdb38bd0f_1301x663.png 848w, https:\/\/substackcdn.com\/image\/fetch\/w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa087c6e3-9d4e-49f9-b68e-ff0cdb38bd0f_1301x663.png 1272w, https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa087c6e3-9d4e-49f9-b68e-ff0cdb38bd0f_1301x663.png 1456w\" sizes=\"100vw\"\/><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa087c6e3-9d4e-49f9-b68e-ff0cdb38bd0f_1301x663.png\" width=\"1301\" height=\"663\" data-attrs=\"{&quot;src&quot;:&quot;https:\/\/substack-post-media.s3.amazonaws.com\/public\/images\/a087c6e3-9d4e-49f9-b68e-ff0cdb38bd0f_1301x663.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:663,&quot;width&quot;:1301,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:426730,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image\/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https:\/\/klementoninvesting.substack.com\/i\/160566151?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa087c6e3-9d4e-49f9-b68e-ff0cdb38bd0f_1301x663.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}\" alt=\"\" srcset=\"https:\/\/substackcdn.com\/image\/fetch\/w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa087c6e3-9d4e-49f9-b68e-ff0cdb38bd0f_1301x663.png 424w, https:\/\/substackcdn.com\/image\/fetch\/w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa087c6e3-9d4e-49f9-b68e-ff0cdb38bd0f_1301x663.png 848w, https:\/\/substackcdn.com\/image\/fetch\/w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa087c6e3-9d4e-49f9-b68e-ff0cdb38bd0f_1301x663.png 1272w, https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa087c6e3-9d4e-49f9-b68e-ff0cdb38bd0f_1301x663.png 1456w\" sizes=\"100vw\" fetchpriority=\"high\" class=\"sizing-normal\"\/><\/picture><\/div>\n<p><\/a><\/figure>\n<\/div>\n<p>Source: Popov (2025)<\/p>\n<p>You\u2019d think having the pope come to visit is rather inconsequential for the host country. He gets off the plane, kisses the ground, and then gives a speech to thousands of followers. Pretty much the same as a Taylor Swift concert.<\/p>\n<p><span>I should have known that this has economic consequences. After all, <\/span><a href=\"https:\/\/fortune.com\/europe\/2024\/06\/14\/taylor-swifts-tour-led-swedish-inflation-to-rise-greater-impact-than-beyonce-last-year\/\" rel=\"\">Taylor Swift\u2019s Eras Tour influenced inflation rates in countries like Sweden<\/a><span>.<\/span><\/p>\n<p>Popov demonstrates that in the years after the pope\u2019s visit, there is a statistically significant increase in trade for the visited countries. The effect is larger for smaller and less developed countries who gain a big international boost from the pope\u2019s visit. After all, a visit by the pope is an event that is televised in many countries, so if the pope visits some poor country in Africa or Latin America, the world\u2019s attention is focused on that country for a brief time. But that is enough to boost international trade for this country.<\/p>\n<p>Boost in exports of a country visited by John Paul II for the first time<\/p>\n<div class=\"captioned-image-container\">\n<figure><a target=\"_blank\" href=\"https:\/\/substackcdn.com\/image\/fetch\/f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc37c413b-766e-47f7-ba7c-7b4f647af8a8_855x505.png\" data-component-name=\"Image2ToDOM\" rel=\"\" class=\"image-link image2 is-viewable-img\"><\/p>\n<div class=\"image2-inset\"><picture><source type=\"image\/webp\" srcset=\"https:\/\/substackcdn.com\/image\/fetch\/w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc37c413b-766e-47f7-ba7c-7b4f647af8a8_855x505.png 424w, https:\/\/substackcdn.com\/image\/fetch\/w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc37c413b-766e-47f7-ba7c-7b4f647af8a8_855x505.png 848w, https:\/\/substackcdn.com\/image\/fetch\/w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc37c413b-766e-47f7-ba7c-7b4f647af8a8_855x505.png 1272w, https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc37c413b-766e-47f7-ba7c-7b4f647af8a8_855x505.png 1456w\" sizes=\"100vw\"\/><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc37c413b-766e-47f7-ba7c-7b4f647af8a8_855x505.png\" width=\"855\" height=\"505\" data-attrs=\"{&quot;src&quot;:&quot;https:\/\/substack-post-media.s3.amazonaws.com\/public\/images\/c37c413b-766e-47f7-ba7c-7b4f647af8a8_855x505.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:505,&quot;width&quot;:855,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:34728,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image\/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https:\/\/klementoninvesting.substack.com\/i\/160566151?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc37c413b-766e-47f7-ba7c-7b4f647af8a8_855x505.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}\" alt=\"\" srcset=\"https:\/\/substackcdn.com\/image\/fetch\/w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc37c413b-766e-47f7-ba7c-7b4f647af8a8_855x505.png 424w, https:\/\/substackcdn.com\/image\/fetch\/w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc37c413b-766e-47f7-ba7c-7b4f647af8a8_855x505.png 848w, https:\/\/substackcdn.com\/image\/fetch\/w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc37c413b-766e-47f7-ba7c-7b4f647af8a8_855x505.png 1272w, https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc37c413b-766e-47f7-ba7c-7b4f647af8a8_855x505.png 1456w\" sizes=\"auto, 100vw\" loading=\"lazy\" class=\"sizing-normal\"\/><\/picture><\/div>\n<p><\/a><\/figure>\n<\/div>\n<p>Source: Popov (2025)<\/p>\n<p>That this is unlikely to be spurious correlation can be seen when one looks at trade with countries that are dominated by Catholics. The increase in trade with predominantly catholic countries is even larger after a visit by the pope than the average pickup in trade.<\/p>\n<p>Boost in exports with other catholic countries after John Paul II visits for the first time<\/p>\n<div class=\"captioned-image-container\">\n<figure><a target=\"_blank\" href=\"https:\/\/substackcdn.com\/image\/fetch\/f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feccd1514-8d48-4d72-8233-34a5ad6d1da0_854x507.png\" data-component-name=\"Image2ToDOM\" rel=\"\" class=\"image-link image2 is-viewable-img\"><\/p>\n<div class=\"image2-inset\"><picture><source type=\"image\/webp\" srcset=\"https:\/\/substackcdn.com\/image\/fetch\/w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feccd1514-8d48-4d72-8233-34a5ad6d1da0_854x507.png 424w, https:\/\/substackcdn.com\/image\/fetch\/w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feccd1514-8d48-4d72-8233-34a5ad6d1da0_854x507.png 848w, https:\/\/substackcdn.com\/image\/fetch\/w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feccd1514-8d48-4d72-8233-34a5ad6d1da0_854x507.png 1272w, https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feccd1514-8d48-4d72-8233-34a5ad6d1da0_854x507.png 1456w\" sizes=\"100vw\"\/><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feccd1514-8d48-4d72-8233-34a5ad6d1da0_854x507.png\" width=\"854\" height=\"507\" data-attrs=\"{&quot;src&quot;:&quot;https:\/\/substack-post-media.s3.amazonaws.com\/public\/images\/eccd1514-8d48-4d72-8233-34a5ad6d1da0_854x507.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:507,&quot;width&quot;:854,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:96526,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image\/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https:\/\/klementoninvesting.substack.com\/i\/160566151?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feccd1514-8d48-4d72-8233-34a5ad6d1da0_854x507.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}\" alt=\"\" srcset=\"https:\/\/substackcdn.com\/image\/fetch\/w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feccd1514-8d48-4d72-8233-34a5ad6d1da0_854x507.png 424w, https:\/\/substackcdn.com\/image\/fetch\/w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feccd1514-8d48-4d72-8233-34a5ad6d1da0_854x507.png 848w, https:\/\/substackcdn.com\/image\/fetch\/w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feccd1514-8d48-4d72-8233-34a5ad6d1da0_854x507.png 1272w, https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Feccd1514-8d48-4d72-8233-34a5ad6d1da0_854x507.png 1456w\" sizes=\"auto, 100vw\" loading=\"lazy\" class=\"sizing-normal\"\/><\/picture><\/div>\n<p><\/a><\/figure>\n<\/div>\n<p>Source: Popov (2025)<\/p>\n<p>So here is my message for the pope: You need to get out more. You are the world\u2019s most successful trade envoy, and the world needs you now more than ever.<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>If you are not catholic, you may wonder what popes are good for? It\u2019s the Head of State of the world\u2019s smallest country who spends most of his time in his renaissance palace and occasionally steps out on a balcony to bless the world but otherwise is busy promoting the most conservative social views possible. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":291818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96],"tags":[907,1416,87111],"dealstore":[],"offerexpiration":[],"class_list":["post-291817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-business","tag-good","tag-popes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Popes are good for business - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=291817\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Popes are good for business - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"If you are not catholic, you may wonder what popes are good for? 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