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Financial Situation and Its Consequences on the Quality of Life in the EU Countries

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  • Virag Havasi

Abstract

There is no agreement in social sciences on the relationship between the objective and subjective side of the quality of life. The survey of Eurobarometer 72.1 conducted in 2009 provided data on different subjective and objective indicators of financial situation. Correlation analyses revealed, that linkages between them were not strong. A great amount of study examined the connections between financial situation and overall feeling of happiness. This study found that the context of the questions influences the magnitude of the effects of material conditions on subjective well-being. The satisfaction with financial situation explained more than twice of the variance of happiness in the Euraboramoter sample—whose main topic was inequalities- than in the fifth wave of the World Values Surveys sample- whose questions were more diverse. Multiple regression analyses indicated that there are differences between countries in the magnitude of the effects of material conditions on subjective well-being. This effect is smaller in the more postmaterialist countries. Copyright Springer Science+Business Media B.V. 2013

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  • Virag Havasi, 2013. "Financial Situation and Its Consequences on the Quality of Life in the EU Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 113(1), pages 17-35, August.
    • Handle: RePEc:spr:soinre:v:113:y:2013:i:1:p:17-35
    DOI: 10.1007/s11205-011-9901-y
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    Cited by:

    1. M. Joseph Sirgy, 2018. "The Psychology of Material Well-Being," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 13(2), pages 273-301, June.
    2. Nováková Bibiána & Vagašová Tatiana, 2016. "Health and its Effects on the Quality of Life in the EU Countries," Scientific Annals of Economics and Business, Sciendo, vol. 63(1), pages 1-14, March.
    3. Ngamaba, Kayonda Hubert & Armitage, Christopher & Panagioti, Maria & Hodkinson, Alexander, 2020. "How closely related are financial satisfaction and subjective well-being? Systematic review and meta-analysis," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 85(C).
    4. Maurizio Carpita & Enrico Ciavolino & Mariangela Nitti, 2019. "The MIMIC–CUB Model for the Prediction of the Economic Public Opinions in Europe," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 146(1), pages 287-305, November.

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