TY - JOUR
T1 - What makes people happy? An empirical investigation of panel data
AU - Kim, Rae Yule
N1 - Publisher Copyright:
© 2020 Informa UK Limited, trading as Taylor & Francis Group.
PY - 2021
Y1 - 2021
N2 - Happiness is complicated. Extensive studies explored potential factors that might influence subjective well-being; however, one’s happiness should not be determined by a singular factor such as a certain life event. This study implements the system GMM and examines the multivariate effect of socio-economic factors that might influence happiness, based on panel data of happiness surveys in 165 countries over more than 10 years. The results suggest autonomy, social support, and generosity lead to greater subjective well-being. Social support and prosocial action such as donations are likely to improve social trust and one’s sense of social security, which can lead to greater subjective well-being. The effect of economic equality on subjective well-being might be heterogenous by individual context. National level inequality, such as GINI index, is not likely to influence happiness significantly.
AB - Happiness is complicated. Extensive studies explored potential factors that might influence subjective well-being; however, one’s happiness should not be determined by a singular factor such as a certain life event. This study implements the system GMM and examines the multivariate effect of socio-economic factors that might influence happiness, based on panel data of happiness surveys in 165 countries over more than 10 years. The results suggest autonomy, social support, and generosity lead to greater subjective well-being. Social support and prosocial action such as donations are likely to improve social trust and one’s sense of social security, which can lead to greater subjective well-being. The effect of economic equality on subjective well-being might be heterogenous by individual context. National level inequality, such as GINI index, is not likely to influence happiness significantly.
KW - Happiness
KW - autonomy
KW - prosocial behaviour
KW - social capital
KW - subjective well-being
UR - http://www.scopus.com/inward/record.url?scp=85098606389&partnerID=8YFLogxK
U2 - 10.1080/13504851.2020.1733471
DO - 10.1080/13504851.2020.1733471
M3 - Article
AN - SCOPUS:85098606389
SN - 1350-4851
VL - 28
SP - 91
EP - 94
JO - Applied Economics Letters
JF - Applied Economics Letters
IS - 2
ER -