Frustrated Achievers: Winners, Losers and Subjective Well-Being in New Market Economies
Carol Graham () and
Journal of Development Studies, 2002, vol. 38, issue 4, 100-140
To date the literature on subjective well-being has focused on the developed economies. We provide empirical evidence from two emerging market countries, Peru and Russia. Our results - and in particular a strong negative skew in the assessments of the respondents with the greatest income gains - support the importance of relative rather than absolute income differences. Among other factors, we attribute our results to shifts in reference norms and to macroeconomic volatility. Relative differences seem to matter more for those in the middle of the distribution than for the very wealthy or the very poor. Our respondents were more critical in assessing their progress vis-a-vis others in their country versus those in their community. The large and consistent gap we find between objective income trends and the subjective assessments of the upwardly mobile may have implications for the future economic and political behaviour of a group that is critical to the sustainability of market policies.
Keywords: subjective well-being; Peru; Russia; relative income differences; sustainability of market policies (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (108) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:taf:jdevst:v:38:y:2002:i:4:p:100-140
Ordering information: This journal article can be ordered from
Access Statistics for this article
Journal of Development Studies is currently edited by Howard White, Oliver Morrissey and Ken Shadlen
More articles in Journal of Development Studies from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().