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How can we investigate the determinants of personal well-being in a developing country using UNICEF’s multiple indicator cluster survey data?

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  • Van-Phuc Phan

Abstract

The economic determinants of subjective well-being are highly contentious. Using UNICEF’s Multiple Indicator Cluster Survey data, this paper is one of the first to analyse how housing property rights and household assets influence individual well-being, as measured by happiness and life satisfaction. The study addresses the prominent endogeneity problem by employing generalised ordered logit and heteroscedasticity-based instrumental variable models. Our findings reveal three key insights: First, the economic dimension, particularly household wealth, has a positive impact on well-being. Second, while the effect of housing ownership is consistent across genders, the impact of household wealth is significantly stronger for women. Third, non-economic factors – such as family connections, education, and age – also play a critical role. These results provide valuable implications for policymakers aiming to enhance individual well-being in Vietnam and other developing countries.

Suggested Citation

  • Van-Phuc Phan, 2026. "How can we investigate the determinants of personal well-being in a developing country using UNICEF’s multiple indicator cluster survey data?," New Zealand Economic Papers, Taylor & Francis Journals, vol. 60(1), pages 121-141, January.
    • Handle: RePEc:taf:nzecpp:v:60:y:2026:i:1:p:121-141
    DOI: 10.1080/00779954.2025.2555348
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