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Economic Freedom and Emotional Well-Being

Author

Listed:
  • Nikolaev, Boris
  • Bennett, Daniel L.

Abstract

We explore the relationship between emotional well-being and economic freedom. Us-ing data for a sample of 12 countries from wave 2 of the World Value Survey (WVS) and the Economic Freedom of the World (EFW) index, we find that people living in more economi-cally free societies are more likely to report the presence of positive affect and absence of neg-ative affect. Specifically, people who live in countries with greater economic freedom are more likely to report feeling excited, accomplished, and on the top of the world. At the same time, they are less likely to report feeling pride, restlessness, loneliness, boredom, and being upset. These results are consistent with previous studies that find a positive association be-tween economic freedom and life satisfaction.

Suggested Citation

  • Nikolaev, Boris & Bennett, Daniel L., 2017. "Economic Freedom and Emotional Well-Being," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 47(1).
    • Handle: RePEc:ags:jrapmc:293619
    DOI: 10.22004/ag.econ.293619
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    Citations

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    Cited by:

    1. Johan Graafland, 2020. "When Does Economic Freedom Promote Well Being? On the Moderating Role of Long-Term Orientation," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 149(1), pages 127-153, May.
    2. Daniel L. Bennett, 2021. "Local economic freedom and creative destruction in America," Small Business Economics, Springer, vol. 56(1), pages 333-353, January.
    3. Boris Nikolaev & Daniel L. Bennett, 2020. "Has Economic Growth Made Americans Better Off despite Rising Income Inequality? Evidence from Subjective Well-Being Data," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 35(Fall 2020), pages 63-92.
    4. Jeremy Horpedahl & Jeremy Jackson & David Mitchell, 2019. "Is Economic Freedom the Hidden Path to Social Justice?," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 34(Winter 20), pages 55-74.

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