GLOBAL HAPPINESS DYNAMICS: A COMPARATIVE SOCIOECONOMIC ANALYSIS OF WELL-BEING, GOVERNANCE, AND SOCIAL TRUST
DOI:
https://doi.org/10.69980/qqh1nr42Abstract
The determinants of global happiness by a comparative socioeconomic model, which looks at the contributions of economic prosperity, social support, and the quality of governance. The research uses cross-national data of the world happiness data set to adopt a quantitative approach to examine cross-country variations in subjective well-being. The results suggest that the combination of economic and non-economic has a role in determining happiness, and GDP per capita, social support, life expectancy, and freedom to make life choices turned out to be important predictors. Of these, social support proves to have a particularly strong effect, which is why interpersonal relationships and social cohesion prove to have a stronger influence on determining well-being. Governance, which is proxied by corruption perceptions, also demonstrates a significant contribution, implying that institutional trust and transparency have a crucial role in improving life satisfaction. Conversely, the role of generosity in happiness appears to have a rather weak impact. The paper highlights the multidimensionality of well-being and reiterates that sustainable increases in happiness must be achieved through a multi-faceted approach beyond economic growth. The research becomes part of the larger discussion on global well-being and it provides the policy developers with insights on developing inclusive and sustainable development.
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