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Can Money Buy Happiness? Income and Multidimensional Life Satisfaction in Brunei Darussalam

Author

Listed:
  • LY SLESMAN

    (Centre for Advanced Research (CARe), Universiti Brunei Darussalam, Brunei)

  • CHANG-YAU HOON

    (Centre for Advanced Research (CARe), Universiti Brunei Darussalam, Brunei)

  • EVI NURVIDYA ARIFIN

    (Centre for Advanced Research (CARe), Universiti Brunei Darussalam, Brunei)

  • NOOR AZAM HAJI-OTHMAN

    (Faculty of Arts and Social Sciences, Universiti Brunei Darussalam, Brunei)

  • ABBY TAN

    (Chancellery, Universiti Brunei Darussalam, Brunei)

Abstract

This paper examines the nexus of income and multidimensional life satisfaction (LS) in the oil- and gas-rich Belait district of Brunei Darussalam. Using a random sample of 1,000 Belait residents and principal component factor analysis to sort 11 domains-of-life satisfaction into three uncorrelated LS spheres–LS with materialist life (job, stress, and income); LS with post-materialist life (family, spirituality, neighbors, and community activities); and LS with public life (health, neighborhood facility, feeling safe at home, and quality of living environment)—we discover the following. First, positive income effects on LS with materialist life sphere are evidenced from lower-middle- to high-income bands. Second, a positive income effect on LS with post-materialist life sphere is only found in the high-income band. Income does not relate to LS with public life sphere. These findings are robust to using each domains-of-life satisfaction and treating scores on domain satisfaction as ordinal and cardinal measures.

Suggested Citation

  • Ly Slesman & Chang-Yau Hoon & Evi Nurvidya Arifin & Noor Azam Haji-Othman & Abby Tan, 2023. "Can Money Buy Happiness? Income and Multidimensional Life Satisfaction in Brunei Darussalam," Asian Development Review (ADR), World Scientific Publishing Co. Pte. Ltd., vol. 40(01), pages 113-150, March.
    • Handle: RePEc:wsi:adrxxx:v:40:y:2023:i:01:n:s0116110523500075
    DOI: 10.1142/S0116110523500075
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    Keywords

    Brunei Darussalam; domains-of-life satisfaction; happiness; income; life satisfaction; multidimensional; oil- and gas-dependent economy; Southeast Asian country;
    All these keywords.

    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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