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Expropriation, money, and happiness: the impact of state theft in Russia

Author

Listed:
  • Steven B. Caudill

    (Florida Atlantic University)

  • João Ricardo Faria

    (Florida Atlantic University)

  • Franklin G. Mixon

    (Columbus State University)

  • Elliott H. Young

    (Smith & Nephew)

Abstract

The historically high prevalence of property extraction in transition nations provides a unique opportunity to explore the intersection of institutional economics and the economics of happiness. This study examines how instances of prior property confiscation affect the self-reported quality of life following political-economic transition in Russia during the early 1990s. Using retrospective data from the Social Stratification in Eastern Europe after 1989 project, we estimate both traditional ordered logit models and random-effects ordered logit models, the latter of which addresses clustering of respondents by region of the country. Our results indicate that prior property confiscation experiences lead to a gap between the probabilities of realizing the extreme values of life satisfaction of 21.1–26.5%-points, with prior property confiscation experiences decreasing (increasing) the probability of greater (lesser) life satisfaction.

Suggested Citation

  • Steven B. Caudill & João Ricardo Faria & Franklin G. Mixon & Elliott H. Young, 2024. "Expropriation, money, and happiness: the impact of state theft in Russia," Empirical Economics, Springer, vol. 66(2), pages 483-501, February.
    • Handle: RePEc:spr:empeco:v:66:y:2024:i:2:d:10.1007_s00181-023-02466-y
    DOI: 10.1007/s00181-023-02466-y
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    More about this item

    Keywords

    Happiness; Life satisfaction; Property rights; Confiscation; Expropriation;
    All these keywords.

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
    • P36 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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