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Title:Formal institutions and subjective well-being: Revisiting the cross-country evidencee PDF Logo
Authors:Bjørnskov, Christian
Dreher, Axel
Fischer, Justina A.V.
Issue Date:2008
Series/Report no.:KOF working papers // Konjunkturforschungsstelle, Eidgenössische Technische Hochschule Zürich 192
Abstract:A long tradition in economics explores the association between the quality of formal institutions and economic performance. The literature on the relationship between such institutions and happiness is, however, rather limited. In this paper, we revisit the findings from recent cross-country studies on the institutions-happiness association. Our findings suggest that the conclusions reached by previous studies are fairly sensitive to the specific measure of happiness used. In addition, the results indicate that the welfare effects of policies may differ across phases of a country's economic development. This bears important policy implications which we discuss in the concluding section of the paper.
Subjects:Happiness
institutions
policy implications
JEL:I31
H10
H40
Persistent Identifier of the first edition:doi:10.3929/ethz-a-005626337
Document Type:Working Paper
Appears in Collections:KOF Working Papers, KOF Konjunkturforschungsstelle, ETH Zürich

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