Are religion and happiness on same side?

Can religious devotion make you happier and satisfied? It is a question that has plagued economists for a long time and despite that religion could add a significant meaning to individuals' lives, such as by giving hope through thick and thin. This study aims to present the analysis by using the latest data of wave 7 from World Value Survey while determining if happiness, the ultimate desire and goal, are an outcome of religiosity. By using SEM Maximum likelihood technique we draw the conclusion that religiosity has a positive and significant role in fostering happiness of individuals. Along with religiosity, other social variables including financial situation, victim of crime, health status and living as a couple were also added. All these variables have a positive and significant role in increasing level of happiness except whether the person is a victim of crime. [ABSTRACT FROM AUTHOR]