Детерминанты благополучия в развитых и развивающихся странах / Determinants of well-being in developed and developing countries
Аннотация
In a rapidly changing world, where technological innovation, globalization and socio-cultural trends are continuously shaping societal dynamics, the individual acts as the main link that determines the future. In such a context, the issue of well-being becomes not only a priority, but also essential for the sustainable development of society. Exploring the impact of various factors on people's well-being is an important topic that requires comprehensive analysis. Understanding these factors helps to identify the key components that determine the quality of life of the population and possible ways to improve it.
The practical implications of this study are of great importance to governments, international organizations, research institutions and interested development organizations. Governments can use the results of the study to develop and adjust policies to improve the quality of life of their populations, thereby contributing to more equitable and sustainable development.
This study examines objective and subjective well-being in developed and developing countries, as well as across the entire sample to identify factors of well-being. The existing literature has not previously examined the simultaneous impact of environmental, social, governance, economic factors, and digitalization on subjective and objective well-being, which represents a major knowledge gap that requires urgent attention.
The study aims to identify the key factors that contribute to the quality of life of the population and determine how these factors vary in strength and importance across countries. The study explores the relationship between different types of well-being and environmental, socio-cultural, institutional quality, economic efficiency indicators, and digitalization. The graduation thesis consists of two main chapters that discuss the theoretical framework, analyze empirical data, and provide recommendations for the development of factors for all countries.
Object of the study: human well-being in the global economy.
Subject: the impact of various factors on objective and subjective well-being in developed and developing countries.
The study collected data from 115 countries, comprising 65 developing countries and 50 developed countries. The data was collected from 2006 to 2020. The sample size was determined solely by data availability, reflecting any limitations in data availability. Heteroskedasticity, autocorrelation and endogeneity issues were identified in the econometric models, hence appropriate measures were used to address them. To analyze subjective well-being, this study will use a fixed effects model with bootstrap replication to control for time-stable characteristics. The use of bootstrap replication improves the stability of the model parameter estimates. This method is based on creating a set of random subsamples from the original data and for each subsample a different model is estimated. This is particularly important for fixed effects models where standard estimation methods may not be applicable due to the complexity of the data structure.
A dynamic fixed model with instrumental variables was chosen to analyze objective well-being, which considers dynamic effects, endogeneity of variables and allows for better control of the complex structure of panel data. The study found that socio-cultural and economic determinants are the key drivers of subjective well-being in all countries, regardless of their level of development. Objective well-being, as measured by the Human Development Index, is determined by different factors in developed and developing countries. In developed countries, digitalization, environmental sustainability, quality of institutions and economic efficiency indicators have a significant impact. In developing countries, digitalization and environmental sustainability have a major impact on objective well-being.
To improve well-being in all countries both socio-cultural and economic determinants need to be addressed. Developing digital infrastructure and improving the quality of institutions are also key aspects. Particular attention should be paid to climate resilience and infrastructure improvement, especially in developing countries.
The practical implications of this study are of great importance to governments, international organizations, research institutions and interested development organizations. Governments can use the results of the study to develop and adjust policies to improve the quality of life of their populations, thereby contributing to more equitable and sustainable development.
This study examines objective and subjective well-being in developed and developing countries, as well as across the entire sample to identify factors of well-being. The existing literature has not previously examined the simultaneous impact of environmental, social, governance, economic factors, and digitalization on subjective and objective well-being, which represents a major knowledge gap that requires urgent attention.
The study aims to identify the key factors that contribute to the quality of life of the population and determine how these factors vary in strength and importance across countries. The study explores the relationship between different types of well-being and environmental, socio-cultural, institutional quality, economic efficiency indicators, and digitalization. The graduation thesis consists of two main chapters that discuss the theoretical framework, analyze empirical data, and provide recommendations for the development of factors for all countries.
Object of the study: human well-being in the global economy.
Subject: the impact of various factors on objective and subjective well-being in developed and developing countries.
The study collected data from 115 countries, comprising 65 developing countries and 50 developed countries. The data was collected from 2006 to 2020. The sample size was determined solely by data availability, reflecting any limitations in data availability. Heteroskedasticity, autocorrelation and endogeneity issues were identified in the econometric models, hence appropriate measures were used to address them. To analyze subjective well-being, this study will use a fixed effects model with bootstrap replication to control for time-stable characteristics. The use of bootstrap replication improves the stability of the model parameter estimates. This method is based on creating a set of random subsamples from the original data and for each subsample a different model is estimated. This is particularly important for fixed effects models where standard estimation methods may not be applicable due to the complexity of the data structure.
A dynamic fixed model with instrumental variables was chosen to analyze objective well-being, which considers dynamic effects, endogeneity of variables and allows for better control of the complex structure of panel data. The study found that socio-cultural and economic determinants are the key drivers of subjective well-being in all countries, regardless of their level of development. Objective well-being, as measured by the Human Development Index, is determined by different factors in developed and developing countries. In developed countries, digitalization, environmental sustainability, quality of institutions and economic efficiency indicators have a significant impact. In developing countries, digitalization and environmental sustainability have a major impact on objective well-being.
To improve well-being in all countries both socio-cultural and economic determinants need to be addressed. Developing digital infrastructure and improving the quality of institutions are also key aspects. Particular attention should be paid to climate resilience and infrastructure improvement, especially in developing countries.