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

Stefano Bartolini, Malgorzata Mikucka and Francesco Sarracino

Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, 2017, vol. 130, issue 1, No 6, 87-106

Abstract: Abstract Trends of subjective well-being (SWB) in transition countries are peculiar: they show substantial changes that are more strongly correlated with the trends of GDP than in other developed countries. This paper examines the role of the trends of GDP and of social trust in predicting the trends of well-being. We find that the strength of the relationship between social trust and SWB over the medium-term is comparable to that of GDP. We conclude that in the medium-term, even in countries where material concerns strongly affect well-being, social trust is a powerful predictor of the trends 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; Economic growth; Subjective well-being; Happiness; Life satisfaction; Social capital (search for similar items in EconPapers)
JEL-codes: D03 D60 I31 O10 P27 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (13)

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DOI: 10.1007/s11205-015-1130-3

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