Download - Happy for How Long?
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
38th Annual Meeting of the EEA, Boston
Happy for How Long? How Social Capital andGDP relate to Happiness over Time
Stefano Bartolini Francesco Sarracino
University of Siena CEPS/INSTEADand
CEPS/INSTEAD Population et Emploi
9th of March 2012
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 1 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
GDP and SWB over time
Much of the SWB literature focuses on the question:
“How far is general income growth (beyondincome levels already achieved) likely to
increase average happiness?” (Layard et al., 2009, p. 1)
This is a question about time series relationships
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 2 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
GDP and SWB over time
Much of the SWB literature focuses on the question:
“How far is general income growth (beyondincome levels already achieved) likely to
increase average happiness?” (Layard et al., 2009, p. 1)
This is a question about time series relationships
The answer:
SWB does not increase as income grows(the Easterlin Paradox)
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 2 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Main explanations
Aspirations: after a while people adapt to their living standardby raising their aspirations. SWB is predicted by past income;
Social comparisons: people compare themselves with othersand set their aspirations accordingly. SWB is predicted byreference income.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 3 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Is GDP on the wane?
All-in-all:
Easterlin paradox +plausible explanatory theories +robust empirical evidence =
GDP is on the wane
we should dedicate to “something else” the attention and thepolicy efforts that contemporary societies pour into economicgrowth (i.e. social capital, social tolerance, political freedom,
religiosity and health).
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 4 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Three new developments
1 SWB varies in the long run and it doesn’t vary in the sameway in every country (Stevenson and Wolfers, 2008; Inglehart, 2009;
Sarracino, 2011.)
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 5 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Three new developments
1 SWB varies in the long run and it doesn’t vary in the sameway in every country (Stevenson and Wolfers, 2008; Inglehart, 2009;
Sarracino, 2011.)
2 average SWB is positively correlated with average income overtime (Stevenson and Wolfers, 2008; and Sacks et al., 2010.)
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 5 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Three new developments
1 SWB varies in the long run and it doesn’t vary in the sameway in every country (Stevenson and Wolfers, 2008; Inglehart, 2009;
Sarracino, 2011.)
2 average SWB is positively correlated with average income overtime (Stevenson and Wolfers, 2008; and Sacks et al., 2010.)
3 before focusing on “something else” we need to be sure thatthis something else is not subject to adaptation and socialcomparisons as GDP (unemployment, marriage, divorce,widowhood, the birth of the first child, health, social capitaland religion).
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 5 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
or is GDP not on the wane?
trends of SWB show international variability +GDP is a good predictor of this variability +the alternatives to GDP have the same limitations =
GDP is not on the wane
we should not downsize the role of GDP as an indicator ofwell-being.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 6 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
the Easterlin paradox: a matter of time
The paradox exists!
Stevenson et al. fail to distinguish between the short andlong-term relationship between SWB and GDP;
in the short term SWB and GDP are related, but unrelated inthe long run.
Easterlin et al. (2008, 2010)
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 7 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
the Easterlin paradox: a matter of time
The paradox exists!
Stevenson et al. fail to distinguish between the short andlong-term relationship between SWB and GDP;
in the short term SWB and GDP are related, but unrelated inthe long run.
Easterlin et al. (2008, 2010)
It’s a matter of time spans!
The contrast is not methodological: they use the same bivariatemethodology with the variations over time of SWB regressed onGDP variations.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 7 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
The (unanswered) question
If not GDP, what does correlate with the variations of SWB overtime?
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 8 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
The (unanswered) question
If not GDP, what does correlate with the variations of SWB overtime?
The aim of our work is to analyze the potential of the variations ofSC to predict the variations of well-being and compare it with thepredictive potential of the variations of GDP.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 8 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
The (unanswered) question
If not GDP, what does correlate with the variations of SWB overtime?
The aim of our work is to analyze the potential of the variations ofSC to predict the variations of well-being and compare it with thepredictive potential of the variations of GDP.
Since it’s a matter of time
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 8 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
The (unanswered) question
If not GDP, what does correlate with the variations of SWB overtime?
The aim of our work is to analyze the potential of the variations ofSC to predict the variations of well-being and compare it with thepredictive potential of the variations of GDP.
Since it’s a matter of time
We compare this relationship in the:
Long-term Medium-term Short-term
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 8 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
the long-term
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 9 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
the Easterlin paradox: an example
"argentina"
"australia"
"austria"
"belgium"
"brazil"
"canada"
"chile" "china"
"denmark"
"finland"
"france"
"germany"
"iceland"
"ireland"
"italy" "japan"
"south korea"
"malta"
"mexico""netherlands""norway"
"portugal"
"south africa"
"spain"
"sweden"
"great britain"
"united states"
Y = −0.51 + −0.06 X N = 27
−2
−1
01
−2 0 2 4annual change of log GDP
annual change of life satisfaction Linear prediction
Figure: Life satisfaction and GDP over at least 15 years.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 10 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Life satisfaction and group membership over atleast 15 years
"argentina"
"australia"
"austria"
"belgium"
"brazil"
"canada"
"chile""china"
"denmark"
"finland"
"france"
"germany"
"iceland""ireland"
"italy" "japan"
"south korea"
"malta"
"mexico""netherlands""norway"
"portugal"
"south africa"
"spain"
"sweden"
"great britain"
"united states"
Y = −0.63 + 0.30 X***N = 27
−2
−1
01
−1 0 1 2 3annual change of membership
in at least 1 group or association
annual change of life satisfaction Linear prediction
Figure: Correlations among long-term trends of life satisfaction and ofgroup membership.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 11 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Happiness and group membership over at least 15years
"argentina"
"australia""austria"
"belgium"
"brazil"
"canada"
"chile"
"china"
"denmark"
"finland"
"france"
"germany"
"iceland""ireland"
"italy"
"japan"
"south korea""malta"
"mexico"
"netherlands""norway"
"portugal"
"south africa""spain"
"sweden"
"great britain""united states"
Y = −0.69 + 0.62 X***N = 27
−2
−1
01
2
−1 0 1 2 3annual change of membership
in at least 1 group or association
annual change of happiness Linear prediction
Figure: Correlations among long-term trends of happiness and of groupmembership.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 12 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Tri-variate regressions for long-term trends
Table: Trivariate regressions of long-term trends of proxies of subjectivewell-being over trends of SC and GDP (standardized variables).
happiness life satisfaction
membership in group or association 0.608∗∗ 0.330∗∗
(2.19) (3.58)
log GDP −0.0100 0.0447(−0.07) (0.35)
Constant −0.690∗∗∗ −0.634∗∗∗
(−3.88) (−6.87)
Observations 27 27Adjusted R
2 0.302 0.087
t statistics in parentheses∗ p < 0.10, ∗∗ p < 0.05, ∗∗∗ p < 0.001
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 13 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
From the long to the medium-term
−→
What does happen if we shorten the time span? Will theresults about GDP and social capital change?
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 14 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Happiness and GDP over the medium-term
ATBE
CHCZDEDK
EE
ES
FI
FRGB
GR
HUIE
IL
NL
NO
PL
PT
SE
SI
SK
TR
UA
Y = −0.00 + 0.307 X*N = 24
−4
−2
02
annu
al c
hang
e in
tren
d of
hap
pine
ss(s
tand
ardi
zed
valu
es)
−1 0 1 2 3 annual change in trend of log GDP
(standardized values)
trend of happiness Linear prediction
Figure: Correlations among medium-term trends of happiness and of thelog of GDP per capita.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 15 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Happiness and trust over the medium-term
ATBE
CHCZDEDK
EE
ES
FI
FRGB
GR
HUIE
IL
NL
NO
PL
PT
SE
SI
SK
TR
UA
Y = −0.00 + 0.810 X***N = 24
−4
−2
02
annu
al c
hang
e in
tren
d of
hap
pine
ss(s
tand
ardi
zed
valu
es)
−3 −2 −1 0 1 annual change in index of social trust
(standardized values)
trend of happiness Linear prediction
Figure: Correlations among medium-term trends of happiness and of theindex of trust.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 16 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Tri-variate regressions for medium-term trends
Table: Trivariate regressions of trends of subjective well-being overchanges of the index of social trust and trends of GDP (standardizedvariables).
(1) (2)happiness life satisfaction
index of social trust 0.797∗∗∗ 0.731∗∗∗
(4.03) (8.06)
trend of log GDP 0.268∗∗ 0.323∗
(2.41) (2.02)
Constant −7.96e − 10 5.56e − 10(−0.00) (0.00)
Observations 24 24Adjusted R
2 0.702 0.630
t statistics in parentheses∗ p < 0.10, ∗∗ p < 0.05, ∗∗∗ p < 0.001
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 17 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
From the medium to the short-term
−→
What does happen if we further shorten the period? Willthe results about GDP and social capital change?
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 18 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Happiness and GDP over the short-term
ATAT
BE
BE
BE
CH CH
CH
CZ
DE
DE
DE
DKDK
DK
EE
EE
ES
ES
ESFI
FI
FI
FR
FRFR
GB
GB
GB
GR
HU
HU
HU
IE
IEIE
NL
NL
NL
NONONO
PL
PLPL
PT
PT
PTSE
SE
SE
SI
SI
SI
SK
SK
UA
UA
Y = −0.00 + 0.591 X***N = 58
−2
−1
01
23
annu
al c
hang
e in
cha
nges
in h
appi
ness
(sta
ndar
dize
d va
lues
)
−2 0 2 4annual change in changes in log GDP (2yrs)
(standardized values)
changes in happiness Linear prediction
Figure: Correlations among short-term trends of happiness and of thelog of GDP per capita.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 19 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Happiness and trust over the short-term
ATATBE
BE
BE
CHCH
CH
CZ
DE
DE
DE
DKDK
DK
EE
EE
ES
ES
ESFI
FI
FI
FR
FRFR
GB
GB
GB
GR
HU
HU
HU
IE
IEIE
NL
NL
NL
NO NONO
PL
PLPL
PT
PT
PTSE
SE
SE
SI
SI
SI
SK
SK
UA
UA
Y = −0.00 + 0.308 X**N = 58
−2
−1
01
23
annu
al c
hang
e in
cha
nges
in h
appi
ness
(sta
ndar
dize
d va
lues
)
−3 −2 −1 0 1 2annual change in index of social trust
(standardized values)
changes in happiness Linear prediction
Figure: Correlations among short-term trends of happiness and of theindex of trust.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 20 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Tri-variate regressions for short-term trends
Table: Trivariate regressions of trends of subjective well-being overchanges of the index of social trust and trends of GDP (standardizedvariables).
happiness life satisfaction
index of social trust 0.255∗∗ 0.214(2.18) (1.58)
changes in log GDP (2yrs) 0.568∗∗∗ 0.525∗∗∗
(4.69) (4.73)
Constant −3.27e − 09 1.76e − 09(−0.00) (0.00)
Observations 58 58Adjusted R
2 0.393 0.318
t statistics in parentheses∗ p < 0.10, ∗∗ p < 0.05, ∗∗∗ p < 0.001
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 21 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Medium and short run compared
happiness life satisfaction
index of social trust 2.713∗∗∗ 2.681∗∗∗
(4.03) (8.06)
log of GDP 1.209∗∗ 1.574∗
(2.41) (2.02)
Constant −0.121∗∗∗ −0.111∗∗
(−3.98) (−2.55)
Observations 24 24Adjusted R
2 0.702 0.630
t statistics in parentheses∗ p < 0.10, ∗∗ p < 0.05, ∗∗∗ p < 0.001
Table: Medium-term
happiness life satisfaction
index of social trust 0.569∗∗ 0.563(2.18) (1.58)
log of GDP 2.092∗∗∗ 2.286∗∗∗
(4.69) (4.73)
Constant −0.108∗∗∗ −0.094∗∗∗
(−4.45) (−3.51)
Observations 58 58Adjusted R
2 0.393 0.318
t statistics in parentheses∗ p < 0.10, ∗∗ p < 0.05, ∗∗∗ p < 0.001
Table: Short-term
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 22 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Summarizing... GDP
GDP:
does not matter for SWB in the long run;
it begins to be important in the medium-term;
its importance increases as the period shortens:short run coefficients are greater and more significant thanmedium run coefficients.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 23 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Summarizing... GDP
GDP:
does not matter for SWB in the long run;
it begins to be important in the medium-term;
its importance increases as the period shortens:short run coefficients are greater and more significant thanmedium run coefficients.
Easterlin seems to be right: the time span matters!
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 23 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Summarizing... social capital
Social capital:
is strongly correlated to SWB in the long and themedium-term;
this correlation tends to evaporate in the short run:the coefficients are much smaller and less significant than themedium-term ones.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 24 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
Conclusion
Possible policy implications
at least for rich countries:
do we want a quick effect on happiness which tends to get lostas time goes by?We should persist being obsessed by economic growth;
do we want an effect on happiness which is slow and durable?Policies should target social capital.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 25 / 36
Social capital, GDPand well-being over
time
Introduction
The (unanswered)question
Results
The long run
From the long to themedium-term
From the medium tothe short-term
ConclusionThanks for your kind attention!
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 26 / 36
Social capital, GDPand well-being over
time
Data
The countries included in our sample depends on the availability ofinternationally comparable time series on social capital variables.
WVS/EVS data
collected in 6 waves between 1981 and 2009
all available countries with at least 15 years and 3obs. in time
no transition economies
27 countries
169000 obs
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 27 / 36
Social capital, GDPand well-being over
time
list of associations mentioned in the WVS/EVS
Social Capital:Long-term: share of the population participating in at least onegroup or association.
Respondents were asked to mention whether they belonged or wereperforming unpaid voluntary work for any of the following groupsor associations:
social welfare service for elderly; animal rights;religious organization; professional associations;education, arts, music or cultural activities; youth work;labour unions; sports or recreation;political parties; women’s group;local political actions; peace movement;human rights; organization concerned with health;conservation, the environment, ecology; consumer groups;other groups.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 28 / 36
Social capital, GDPand well-being over
time
Data
ESS data
collected in 4 waves between 2002 and 2008
every 2 years
all available countries
24 countries and 58 intervals
162000 obs
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 29 / 36
Social capital, GDPand well-being over
time
Our variables
Social Capital:
Medium and Short-term: index of social trust using the following 3items:
Most people can be trusted“Would you say that most people can be trusted?”
Most people are helpful“Would you say that most of the time people try to be helpful?”
Most people are unfair“Do you think that most people would try to take advantage of you if
they got the chance, or would they try to be fair?”
Given the similarities among these 3 questions, we group them toproxy one latent concept.
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 30 / 36
Social capital, GDPand well-being over
time
Three measures of well-being
Well-being can be proxied by:
happiness
life satisfaction
objective data: mental illnesses, suicides, alcoholism, drugsabuse, psychopharmaca, etc.
Happiness and life satisfaction are called subjective well-being(SWB)
Subjective well-being (SWB): individual’s evaluation of itsown life regarded as a whole (Helliwell, 2008)
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 31 / 36
Social capital, GDPand well-being over
time
Observing SWB (WVS/EVS)
Happiness:
“Taking all things together, would you say you are:”
1 “very happy”
2 “quite happy”
3 “not very happy”
4 “not at all happy”
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 32 / 36
Social capital, GDPand well-being over
time
Observing SWB (WVS/EVS)
Happiness:
“Taking all things together, would you say you are:”
1 “very happy”
2 “quite happy”
3 “not very happy”
4 “not at all happy”
Life satisfaction:
“All things considered, how satisfied are you with your life as awhole these days?” Answers range on a 1 to 10 points scale:
1 “dissatisfied”...
10 “satisfied”
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 32 / 36
Social capital, GDPand well-being over
time
Reliability of SWB
Reliability
data on SWB are:
consistent with more objective measures of well-being (heartrate, blood pressure, Duchenne smile, brain scanners, suicide)(Blanchflower and Oswald, 2008a; Van Reekum et al., 2007);
highly correlated with other proxies of SWB (Schwarz andStrack, 1999; Wanous and Hudy, 2001; Schimmack et al.,2009);
consistent with evaluations about the respondent’s happinessprovided by friends, relatives or clinical experts (Schneider andSchimmack, 2009; Kahneman and Krueger, 2006; Layard,2005).
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 33 / 36
Social capital, GDPand well-being over
time
China 1990 - 2007, an ongoing work...
SWB in China
500
1000
1500
2000
aver
age
GD
P p
.c. (
2000
US
$)
6.6
6.8
77.
27.
4av
erag
e lif
e sa
tisfa
ctio
n
1990 1995 2000 2005 2010year survey
average life satisfactionaverage GDP p.c. (2000 US $)
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 34 / 36
Social capital, GDPand well-being over
time
Evidence from within country studies: China
Explained part−
.15
−.1
−.0
50
.05
.1
finan
cial_s
at
freed
om_c
hoice
healt
h
pol_t
rust
soc_
cap
scale
of in
com
es
parameter estimate 90% conf. interval
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 35 / 36
Social capital, GDPand well-being over
time
Evidence from within country studies: China
Unexplained part−
.50
.51
1.5
finan
cial_s
at
freed
om_c
hoice
healt
h
pol_t
rust
soc_
cap
scale
of in
com
es
parameter estimate 90% conf. interval
Stefano Bartolini, Francesco Sarracino Social capital, GDP and well-being over time 9th of March 2012 36 / 36