Catan P.I., Kompaneets M.V. Dependence Analysis of Life Satisfaction on Economic Development Level of Society

Petru I. Catan
University of European Studies of Moldova, Chisinau, Republic of Moldova

Maria V. Kompaneets
Slavonic University, Chisinau, Republic of Moldova

Abstract. The problem of the quality of human life is complex and comprehensive. In this context, there is a need to conduct scientific research that can comprehensively reflect the level of development of the state and assess the attractiveness of a country or region not only from an economic point of view but also from the standpoint of comfort, stability, and the subjective perception of the state of civil society by people. This task, in the opinion of the authors, is solved by the study of life satisfaction. It involves the analysis and assessment of the factors that determine the perception of the quality of human life in order to determine priorities in life satisfaction growth of the population. In this article, life satisfaction is understood as an individual’s subjective assessment of their economic and social situation. When determining the rating of happiness, both objective social and economic indicators and indicators of civil society development, including subjectively perceived ones, are used. The results of the analysis of life satisfaction can create the basis for the formation of the macroeconomic policy of the state. Achievement of high levels in the happiness rating forms an attractive image of the country, which has a positive effect on the establishment of favorable diplomatic relations and creates conditions for the inflow of investments. The purpose of this article is to determine the level of influence of economic well-being on life satisfaction. The study analyzed macroeconomic indicators, which are used in the formation of happiness ratings. The effect of the Easterlin paradox is demonstrated by the example of the economy of the Republic of Moldova. The authors calculated the correlation coefficient between the indicators of GDP per capita and the level of happiness, which showed the presence of moderate rather than strong dependence between them.
Key words: happiness economics, life satisfaction, quality of human life, Easterlin paradox, subjective well-being.
Citation. Catan P.I., Kompaneets M.V., 2023. Dependence Analysis of Life Satisfaction on Economic Development Level of Society. Regionalnaya ekonomika. Yug Rossii [Regional Economy. South of Russia], vol. 11, no. 4, pp. 54-63. (in Russian). DOI: https://doi.org/10.15688/re.volsu.2023.4.5

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