IDEAS home Printed from https://ideas.repec.org/a/aes/amfeco/v46y2017i19p822.html
   My bibliography  Save this article

Analysis of Relative Prosperity in Romania and Slovenia Using the Being-Loving-Having Model

Author

Listed:
  • Franci Cirkvencic

    (Government of Republic of Slovenia, Slovenia)

  • Tine Bertoncel

    (Erasmus University Rotterdam, Netherlands)

  • Andrej Bertoncelj

    (University of Primorska, Slovenia)

  • Maja Meško

    (University of Primorska, Slovenia)

Abstract

The study aimed to verify Allardt's prosperity model in the field of economic prosperity based on the notions of being, loving and having and to explore the existence of possible correlation among sets of all three variables. Canonical correlation analysis to predict relative prosperity was performed for selected 110 nations with the focus on Romania and Slovenia. The study results for Romania for 2011 indicate low approval of the government, low confidence in the judicial system as well as in financial institutions, in addition to concerns about health prospects and lack of confidence in the transparency of elections for the loving construct. In addition, the being construct is also negative in Romania suggesting overall dissatisfaction with the economic status and development, indicating strong dissatisfaction with governmental efforts to address poverty and efforts regarding sanitation, concerns about environment, existing standard of living and life expectancy, suggesting a weak health system. The study further suggests for Slovenia for 2011 negative expectations for the loving construct and below average expectations for the being construct. The approval of the government and confidence in the judicial system and financial institutions in Slovenia is also low, the only positive expectation is the confidence in electoral system, but Slovenians are also worried about their health prospects. In addition, the being construct for Slovenia is also slightly below average, indicating dissatisfaction with economic development and below average satisfaction with water quality and environment, and life expectancy suggesting health system inefficiency. The longitudinal study for the time period from 2011 till 2016 suggests moderate improvements for Romania in eight areas of relative prosperity, especially for the natural environment, governance and education, and for Slovenia practically unchanged situation. The study further suggests that both nations still face numerous challenges but due to implement ation of certain structural reforms till 2016, albeit limited, some additional improvements regarding the economic prosperity of their citizens could be expected in the near future.

Suggested Citation

  • Franci Cirkvencic & Tine Bertoncel & Andrej Bertoncelj & Maja Meško, 2017. "Analysis of Relative Prosperity in Romania and Slovenia Using the Being-Loving-Having Model," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 19(46), pages 822-822, August.
    • Handle: RePEc:aes:amfeco:v:46:y:2017:i:19:p:822
    as

    Download full text from publisher

    File URL: http://www.amfiteatrueconomic.ro/temp/Article_2662.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ruut Veenhoven, 2005. "Inequality Of Happiness in Nations," Journal of Happiness Studies, Springer, vol. 6(4), pages 351-355, December.
    2. Easterlin, Richard A., 2006. "Life cycle happiness and its sources: Intersections of psychology, economics, and demography," Journal of Economic Psychology, Elsevier, vol. 27(4), pages 463-482, August.
    3. Pamela Abbott & Claire Wallace, 2014. "Rising Economic Prosperity and Social Quality the Case of New Member States of the European Union," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 115(1), pages 419-439, January.
    4. Jesper Rözer & Gerbert Kraaykamp, 2013. "Income Inequality and Subjective Well-being: A Cross-National Study on the Conditional Effects of Individual and National Characteristics," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 113(3), pages 1009-1023, September.
    5. Valentin Cojanu, 2006. "A democratic view on prosperity," International Journal of Social Economics, Emerald Group Publishing, vol. 33(8), pages 565-579, August.
    6. Ruut Veenhoven & Floris Vergunst, 2014. "The Easterlin illusion: economic growth does go with greater happiness," International Journal of Happiness and Development, Inderscience Enterprises Ltd, vol. 1(4), pages 311-343.
    7. Valeria Andreoni & Stefano Galmarini, 2016. "Mapping socioeconomic well-being across EU regions," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 43(3), pages 226-243, March.
    8. Marc Fleurbaey, 2009. "Beyond GDP: The Quest for a Measure of Social Welfare," Journal of Economic Literature, American Economic Association, vol. 47(4), pages 1029-1075, December.
    9. C. Graham & S. Pettinato, 2002. "Frustrated Achievers: Winners, Losers and Subjective Well-Being in New Market Economies," Journal of Development Studies, Taylor & Francis Journals, vol. 38(4), pages 100-140.
    10. Azman-Saini, W.N.W. & Baharumshah, Ahmad Zubaidi & Law, Siong Hook, 2010. "Foreign direct investment, economic freedom and economic growth: International evidence," Economic Modelling, Elsevier, vol. 27(5), pages 1079-1089, September.
    11. John F. Helliwell, 2006. "Well-Being, Social Capital and Public Policy: What's New?," Economic Journal, Royal Economic Society, vol. 116(510), pages 34-45, March.
    12. Maria Pereira & Filipe Coelho, 2013. "Untangling the Relationship Between Income and Subjective Well-Being: The Role of Perceived Income Adequacy and Borrowing Constraints," Journal of Happiness Studies, Springer, vol. 14(3), pages 985-1005, June.
    13. Claudia Senik, 2014. "Wealth and happiness," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 30(1), pages 92-108.
    14. Monica Budowski & Sebastian Schief & Rebekka Sieber, 2016. "Precariousness and Quality of Life—a Qualitative Perspective on Quality of Life of Households in Precarious Prosperity in Switzerland and Spain," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 11(4), pages 1035-1058, December.
    15. I. Ponocny & Ch. Weismayer & B. Stross & S. G. Dressler, 2016. "Are Most People Happy? Exploring the Meaning of Subjective Well-Being Ratings," Journal of Happiness Studies, Springer, vol. 17(6), pages 2635-2653, December.
    16. Claudia Senik, 2014. "Wealth and happiness," Post-Print halshs-01054182, HAL.
    17. Daniel M. Gropper, Robert A. Lawson, and Jere T. Thorne Jr., 2011. "Economic Freedom and Happiness," Cato Journal, Cato Journal, Cato Institute, vol. 31(2), pages 237-255, Spring/Su.
    18. Jason Raibley, 2012. "Happiness is not Well-Being," Journal of Happiness Studies, Springer, vol. 13(6), pages 1105-1129, December.
    19. Mentzakis, Emmanouil & Moro, Mirko, 2009. "The poor, the rich and the happy: Exploring the link between income and subjective well-being," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(1), pages 147-158, January.
    20. Brown, Sarah & Gray, Daniel, 2016. "Household finances and well-being in Australia: An empirical analysis of comparison effects," Journal of Economic Psychology, Elsevier, vol. 53(C), pages 17-36.
    21. Rafael Di Tella & Robert MacCulloch, 2006. "Some Uses of Happiness Data in Economics," Journal of Economic Perspectives, American Economic Association, vol. 20(1), pages 25-46, Winter.
    22. Claudia Senik, 2014. "Wealth and happiness," PSE-Ecole d'économie de Paris (Postprint) halshs-01054182, HAL.
    23. repec:hal:pseose:halshs-01054182 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ana Nesic & Slavica Mitrovic Veljkovic, & Maja Mesko & Tine Bertoncel, 2020. "Correlation of Trust and Work Engagement: a Modern Organizational Approach," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 22(Special 1), pages 1283-1283, November.
    2. Ibinceanu Onica Mihaela Cristina & Cristache Nicoleta & Dobrea Răzvan Cătălin & Florescu Margareta, 2021. "Regional Development in Romania: Empirical Evidence Regarding the Factors for Measuring a Prosperous and Sustainable Economy," Sustainability, MDPI, vol. 13(7), pages 1-19, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sergei Guriev & Ekaterina Zhuravskaya, 2009. "(Un)happiness in Transition," Journal of Economic Perspectives, American Economic Association, vol. 23(2), pages 143-168, Spring.
    2. Netta Achdut & Lea Achdut, 2022. "Joint Income-Wealth Poverty in a Cross-National Perspective: The Role of Country-Level Indicators," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 164(1), pages 499-541, November.
    3. Jigme Nidup & Simon Feeny & Ashton Silva, 2018. "Improving Well-Being in Bhutan: A Pursuit of Happiness or Poverty Reduction?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 140(1), pages 79-100, November.
    4. Takis Venetoklis, 2019. "Do interactions cancel associations of subjective well-being with individual-level socioeconomic characteristics? An exploratory analysis using the European Social Survey," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(6), pages 3033-3061, November.
    5. repec:hal:spmain:info:hdl:2441/7fst0pcf5j8cr99e1nuobt97rn is not listed on IDEAS
    6. Lepinteur, Anthony & Waltl, Sofie R., 2020. "Tracking Owners' Sentiments: Subjective Home Values, Expectations and House Price Dynamics," Department of Economics Working Paper Series 299, WU Vienna University of Economics and Business.
    7. Polyzos, Stathis & Samitas, Aristeidis & Kampouris, Ilias, 2021. "Economic stimulus through bank regulation: Government responses to the COVID-19 crisis," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    8. Polyzos, Stathis & Samitas, Aristeidis & Katsaiti, Marina-Selini, 2020. "Who is unhappy for Brexit? A machine-learning, agent-based study on financial instability," International Review of Financial Analysis, Elsevier, vol. 72(C).
    9. O'Donnell, Gus & Oswald, Andrew J., 2015. "National well-being policy and a weighted approach to human feelings," Ecological Economics, Elsevier, vol. 120(C), pages 59-70.
    10. Cai, Shu & Park, Albert, 2016. "Permanent income and subjective well-being," Journal of Economic Behavior & Organization, Elsevier, vol. 130(C), pages 298-319.
    11. Veszteg, Róbert F. & Funaki, Yukihiko, 2018. "Monetary payoffs and utility in laboratory experiments," Journal of Economic Psychology, Elsevier, vol. 65(C), pages 108-121.
    12. Niimi, Yoko, 2015. "Can happiness provide new insights into social inequality? Evidence from Japan," MPRA Paper 64720, University Library of Munich, Germany.
    13. Johan Graafland & Bjorn Lous, 2019. "Income Inequality, Life Satisfaction Inequality and Trust: A Cross Country Panel Analysis," Journal of Happiness Studies, Springer, vol. 20(6), pages 1717-1737, August.
    14. Yoko Niimi, 2018. "What Affects Happiness Inequality? Evidence from Japan," Journal of Happiness Studies, Springer, vol. 19(2), pages 521-543, February.
    15. Yuta J. Masuda & Jason R. Williams & Heather Tallis, 2021. "Does Life Satisfaction Vary with Time and Income? Investigating the Relationship Among Free Time, Income, and Life Satisfaction," Journal of Happiness Studies, Springer, vol. 22(5), pages 2051-2073, June.
    16. Hannah C. Silver & Steven B. Caudill & Franklin G. Mixon Jr., 2017. "Human capital and life satisfaction in economic transition," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 25(2), pages 165-184, April.
    17. Asadullah, Mohammad Niaz & Chaudhury, Nazmul, 2012. "Subjective well-being and relative poverty in rural Bangladesh," Journal of Economic Psychology, Elsevier, vol. 33(5), pages 940-950.
    18. Bahadır Dursun & Resul Cesur, 2016. "Transforming lives: the impact of compulsory schooling on hope and happiness," Journal of Population Economics, Springer;European Society for Population Economics, vol. 29(3), pages 911-956, July.
    19. Umakrishnan Kollamparambil & Mlungisi Ndlovu, 2023. "Assessing the Income and Subjective Wellbeing Relationship Across Sub-national Developmental Contexts," Journal of Happiness Studies, Springer, vol. 24(2), pages 769-790, February.
    20. Daniel Badulescu & Ramona Simut & Ciprian Simut & Andrei-Vlad Badulescu, 2022. "Tourism at the Crossroads between Well-Being, Public Health and the Environment: Panel Data Evidence from the European Union," IJERPH, MDPI, vol. 19(19), pages 1-22, September.
    21. Calcagnini, Giorgio & Perugini, Francesco, 2019. "Social capital and well-being in the Italian provinces," Socio-Economic Planning Sciences, Elsevier, vol. 68(C).

    More about this item

    Keywords

    prosperity model: being-loving-having; relative prosperity; canonical correlation analysis; Romania; Slovenia.;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • I39 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aes:amfeco:v:46:y:2017:i:19:p:822. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Valentin Dumitru (email available below). General contact details of provider: https://edirc.repec.org/data/aseeero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.