Economic Freedom and Life Satisfaction: A Cross Country Analysis
AbstractAbstract: This paper estimates the relationship between various sub-indicators of economic freedom and life satisfaction for 122 countries. The estimation results show that life satisfaction is positively related to the quality of the legal system and protection of property rights. For poor countries, freedom of trade fosters life satisfaction as well. Life satisfaction is independent from the size of the government and sound money and tends to be negatively related to low regulation. If the relationship between life satisfaction and economic freedom is controlled for income per capita, life satisfaction is independent from economic freedom. This indicates that the relationship between life satisfaction and economic freedom is mediated by income per capita.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2012-038.
Date of creation: 2012
Date of revision:
Contact details of provider:
Web page: http://center.uvt.nl
economic freedom; free trade; government size; income per capita; life satisfaction; regulation; respect of private property; sound money;
Find related papers by JEL classification:
- A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
- D60 - Microeconomics - - Welfare Economics - - - General
- E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
- P14 - Economic Systems - - Capitalist Systems - - - Property Rights
- P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
- P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sjoerd Beugelsdijk & Henri L.F. de Groot & Anton B.T.M. van Schaik, 2004. "Trust and economic growth: a robustness analysis," Oxford Economic Papers, Oxford University Press, vol. 56(1), pages 118-134, January.
- Blanchflower, David G. & Oswald, Andrew J., 2004.
"Well-being over time in Britain and the USA,"
Journal of Public Economics,
Elsevier, vol. 88(7-8), pages 1359-1386, July.
- David G. Blanchflower & Andrew J. Oswald, 2000. "Well-Being Over Time in Britain and the USA," NBER Working Papers 7487, National Bureau of Economic Research, Inc.
- Blanchflower, David G. & Oswald, Andrew J., 2001. "Well-Being Over Time in Britain and the USA," The Warwick Economics Research Paper Series (TWERPS) 616, University of Warwick, Department of Economics.
- Berggren, Niclas & Jordahl, Henrik, 2005.
"Free to Trust? Economic Freedom and Social Capital,"
Ratio Working Papers
64, The Ratio Institute.
- Niclas Berggren & Henrik Jordahl, 2006. "Free to Trust: Economic Freedom and Social Capital," Kyklos, Wiley Blackwell, vol. 59(2), pages 141-169, 05.
- Berggren, Niclas & Jordahl, Henrik, 2005. "Free to Trust? Economic Freedom and Social Capital," Working Paper Series 2005:2, Uppsala University, Department of Economics.
- Christian Bjørnskov & Nicolai Foss, 2008.
"Economic freedom and entrepreneurial activity: Some cross-country evidence,"
Springer, vol. 134(3), pages 307-328, March.
- Christian Bjørnskov & Nicolai J. Foss, 2006. "Economic Freedom and entrepreneurial Activity Some Cross-Country Evidence," DRUID Working Papers 06-18, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
- Blanchflower, David G; Oswald, Andrew, 2011.
CAGE Online Working Paper Series
39, Competitive Advantage in the Global Economy (CAGE).
- Lorenz Blume & Stefan Voigt, 2007. "The Economic Effects of Human Rights," Kyklos, Wiley Blackwell, vol. 60(4), pages 509-538, November.
- Berggren, Niclas, 1999. " Economic Freedom and Equality: Friends or Foes?," Public Choice, Springer, vol. 100(3-4), pages 203-23, September.
Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Freedom vs happiness
by chris dillow in Stumbling and Mumbling on 2012-05-28 13:48:18
- Freedom, well-being & capitalism
by chris dillow in Stumbling and Mumbling on 2012-07-29 12:03:31
- Why was Hobsbawm wrong?
by chris dillow in Stumbling and Mumbling on 2012-10-02 13:03:20
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Richard Broekman).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.