Predictors of Well-Being in High Income, Industrialized Countries and Their Related Effects
AbstractMotivated by both: academic research illuminating the diminishing returns nature of the relationship between income and subjective well-being, and the recent development of composite indices as alternatives to GDP, this paper seeks to analyze empirically the relationship between a variety of macro-level indicators and subjective well-being. As there has been a paucity of research on this subject on just high-income countries, the paper looks at only those countries and finds that the effects of GDP do indeed diminish in comparison to low-income countries. Furthermore, the empirical analysis overall supports the thesis that as GDP rises, the values of countries shift from personal survival and economic opportunity towards larger government, less working hours, and more emphasis on trust in institutions and people.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 53012.
Date of creation: 26 Apr 2013
Date of revision:
Well-being; Subjective Well-Being; World Values Survey; Alternatives to GDP; Development; Easterlin Paradox;
Find related papers by JEL classification:
- B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
- I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
- O20 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - General
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
- Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
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.:
- Bruno S. Frey & Alois Stutzer, 2010.
"Recent Advances in the Economics of Individual Subjective Well-Being,"
2010/04, Faculty of Business and Economics - University of Basel.
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"Determinants of Subjective Well-Being in High and Low Income Countries: do happiness equations differ across countries?,"
CEPS/INSTEAD Working Paper Series
- Sarracino, Francesco, 2013. "Determinants of subjective well-being in high and low income countries: Do happiness equations differ across countries?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 42(C), pages 51-66.
- Dolan, Paul & Peasgood, Tessa & White, Mathew, 2008. "Do we really know what makes us happy A review of the economic literature on the factors associated with subjective well-being," Journal of Economic Psychology, Elsevier, vol. 29(1), pages 94-122, February.
- Brent Bleys, 2012. "Beyond GDP: Classifying Alternative Measures for Progress," Social Indicators Research, Springer, vol. 109(3), pages 355-376, December.
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