Perceived Happiness and Economic Development：Easterlin Paradox and the Latin American Case

Guillermo Andres Buitrago

Abstract


The aim of this study is to explore the link between subjective wellbeing and economic development. Our theoretical framework builds on the well mentioned Easterlin Paradox which suggests that there is no link between life satisfaction and economic growth. Using data from World Values Survey and World Bank we ran a number of econometric regressions. Our results showed that there is positive link between income and happiness across the globe, while for Latin America economic development is not a predictor of life satisfaction.


Keywords


income; happiness; life satisfaction; Latin America; China.

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References


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