Weberian thoughts on Orthodoxy and economic development

The Economist reviews the sacrosanct Weberian argument of the influence of religion on economic behavior. To cut a long story short (and this one is centuries old) the relationship is not direct. Linking prosperous economies with faith runs up against exceptions. The Greek example illustrates the issue rather nicely: 

Similarly, contemplating Greece’s economic woes, it is easy to dream up some theory that connects Orthodox Christianity (and its comparatively charitable attitude to human weakness) with corruption or cronyism. Orthodoxy has a less pessimistic view of “original sin” than the Christian West—and its prayers for the dead emphasise “no man lives who does not sin”. Does that imply winking at misdeeds? Possibly—but then try explaining why Greek-Americans, who are at least as devout as their motherland kin, do so very well in business, education and public service. The plausible reason lies in America’s institutions which make it easier to prosper in an honest way.

But institutions is not only formal rules. Institutions seen as encompassing worldviews and habit can then in turn be greatly influenced by religion. The Russian case offers a telling example. Its disrespect for the rule of law - and the economic consequences it implies - can be traced back to Orthodoxy. Newcity M. in "The rule of law and economic reform in Russia, edited by Sachs and Pistor" writes: 

Russia never developed a legalistic tradition. The reason for this is that is was Christianized by Byzantium instead of Rome. Western Europe did not receive Roman legal culture directly. It was transmitted and refracted primarily through the Roman Church, which fostered a legalistic, rather than mystical, world view drawn from Roman culture. This contrasts sharply with the world view fostered by the Russian Orthodox Church. The [Roman] Church was intent on establishing a universal body of ecclesiastical legal principles that would bind Western Christendom together regardless of secular divisions. The origins of the Western notion of law as an autonomous body of principles to which secular authorities are subject can be traced to this period. The Orthodox church, however, rejected the independence and supremacy of the papacy and remained an integral part od the state. In this way, Russia missed the most important foundations of the Western concept of the rule of law.

If faith can influence indirectly economic behavior. The way a religion is institutionalized (and its relationship with secular power) can have deep long-lasting influences on economic development.