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Gross National Happiness and Macroeconomic Indicators in the Kingdom of Bhutan

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  • Sriram Balasubramanian
  • Mr. Paul Cashin

Abstract

This paper examines the origins and use of the concept of Gross National Happiness (or subjective well-being) in the Kingdom of Bhutan, and the relationship between measured well-being and macroeconomic indicators. While there are only a few national surveys of Gross National Happiness in Bhutan, the concept has been used to guide public policymaking for the country’s various Five-Year Plans. Consistent with the Easterlin Paradox, available evidence indicates that Bhutan’s rapid increase in national income is only weakly associated with increases in measured levels of well-being. It will be important for Bhutan to undertake more frequent Gross National Happiness surveys and evaluations, to better build evidence for comovement of well-being and macroeconomic concepts such as real national income.

Suggested Citation

  • Sriram Balasubramanian & Mr. Paul Cashin, 2019. "Gross National Happiness and Macroeconomic Indicators in the Kingdom of Bhutan," IMF Working Papers 2019/015, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2019/015
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    References listed on IDEAS

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    Cited by:

    1. Satish Deodhar & Sriram Balasubramanian, 2020. "The Pre-kautilyan Period: a sustainable model through ancient economic ideas and practices," Working Papers 0199, European Historical Economics Society (EHES).

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