Money, Trust and Happiness in Transition Countries: Evidence from Time Series

Stefano Bartolini, Malgorzata Mikucka and Francesco Sarracino

No 2012-04, LISER Working Paper Series from Luxembourg Institute of Socio-Economic Research (LISER)

Abstract: The evolution over time of subjective well-being (SWB) in transition countries exhibit some peculiarities: greater variations which are more strongly correlated with the trends of GDP relative to other countries. What is the possible role of social trust in predicting such variations? We compare the capacity of the trends of GDP and of social trust to predict the trends of SWB. We find that the strength of the relationship between social trust and SWB over the medium-term is comparable to that of GDP. Our conclusion is that in the medium-term, even in countries considered as an extreme case of relevance of material concerns for well-being, social trust is a powerful predictor of the evolution over time of SWB. However, in the short run the relationship between social trust and SWB does not hold and GDP stands out as the only significant correlate of SWB.

Keywords: Easterlin paradox; GDP; economic growth; subjective well-being; happiness; life satisfaction; social capital; time-series; short run; transition countries (search for similar items in EconPapers)
JEL-codes: D03 D60 I31 O10 P27 P50 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2012-02
New Economics Papers: this item is included in nep-soc and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Journal Article: Money, Trust and Happiness in Transition Countries: Evidence from Time Series (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:irs:cepswp:2012-04

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