Effects of Economic Freedom on Subjective Well-Being

Alexandra-Cristina Sirbu, Andreea-Oana Iacobuță-Mihăiță, Mircea Asandului and Madalina-Maria Brezuleanu
Additional contact information
Alexandra-Cristina Sirbu: Alexandru Ioan Cuza University of IaÅŸi, Faculty of Economics and Business Administration IaÅŸi
Andreea-Oana Iacobuță-Mihăiță: Alexandru Ioan Cuza University of Iaşi, Faculty of Economics and Business Administration Iaşi
Mircea Asandului: Alexandru Ioan Cuza University of IaÅŸi, Faculty of Economics and Business Administration IaÅŸi
Madalina-Maria Brezuleanu: Alexandru Ioan Cuza University of IaÅŸi, Faculty of Economics and Business Administration IaÅŸi

Scientific Annals of Economics and Business (continues Analele Stiintifice), 2023, vol. 70, issue SI, 85 - 97

Abstract: Are people more likely to be satisfied with their lives if they had freedom from regulations, if they had the ability to trade freely internationally? In light of the demographic aging phenomenon we are facing, the present study analyzes the relationship between economic freedom and life satisfaction among European older adults. In order to do so, we are using data from the European Health, Ageing, and Retirement Survey and Economic Freedom of the World. By using the ordered logit regression method, we estimated different models to identify how sub-indicators of economic freedom affect the subjective well-being. According to the findings, the quality of the institutions that define the legal system and establish rules for the protection of private property and sound monetary policy have a positive effect on subjective well-being. On the other hand, openness to international trade has a negative effect and government and regulation doesn’t show any significance. Â

Keywords: subjective well-being; economic freedom; SHARE; ologit; life satisfaction. (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://saeb.feaa.uaic.ro/index.php/saeb/article/view/2014 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aic:saebjn:v:70:y:2023:i:si:p:85-97:n:6

Access Statistics for this article

More articles in Scientific Annals of Economics and Business (continues Analele Stiintifice) from Alexandru Ioan Cuza University, Faculty of Economics and Business Administration Contact information at EDIRC.
Bibliographic data for series maintained by Sireteanu Napoleon-Alexandru ().