Economic policy and the level of self-perceived well-being: An international comparison

The focus of macroeconomic inquiry has traditionally been on studying economic growth. The success or failure of any government initiated expenditure, revenue, or regulatory policy is commonly judged by the rate of the ensuing economic growth. This study focuses on whether economic variables that fi...

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Bibliographic Details
Published in:The Journal of socio-economics 2006-04, Vol.35 (2), p.308-325
Main Authors: Ovaska, Tomi, Takashima, Ryo
Format: Article
Language:English
Subjects:
Comparative analysis
Crosscultural Analysis
Econometrics
Economic Factors
Economic freedom
Economic growth
Economic policy
Economic welfare
Happiness
Macroeconomics
Manycountries
Public economics
Self-perceived level of well-being
Studies
Welfare economics
Well Being
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Summary:The focus of macroeconomic inquiry has traditionally been on studying economic growth. The success or failure of any government initiated expenditure, revenue, or regulatory policy is commonly judged by the rate of the ensuing economic growth. This study focuses on whether economic variables that figure prominently in current policy discussions, such as economic growth and economic freedom, are related to the self-reported levels of well-being of individuals. The econometric analysis attempts to uncover those economic factors that appear to be the most highly correlated with a country's success or failure in promoting its citizens’ well-being. The cross-country sample includes 68 countries of diverse characteristics and uses averaged data for the 1990s.
ISSN:1053-5357
2214-8043
1879-1239
2214-8051
DOI:10.1016/j.socec.2005.11.054