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Relationship Between Life Satisfaction and Economic Growth

In: Foundations of Quantitative Happiness

Author

Listed:
  • Weisheng Zhou

    (Ritsumeikan University)

  • Xiangwei Lin

    (Research Institute of Global 3E)

  • Xuepeng Qian

    (Sophia University)

Abstract

In this chapter, to elucidate the relationship between life satisfaction and economic growth, we conducted an econometric analysis of the relationship between the Gini coefficient and the rate of economic growth, as well as GDP, which is not merely the total income. First, although the “Eastern Paradox” phenomenon, in which the percentage of people satisfied with their lives does not increase in proportion to a large increase in GDP per capita (PPP equivalent), was reproduced in Japan from a macro perspective, a slight upward trend was observed. On the micro level, we found that the percentage of respondents who are satisfied with their lives tends to be linked to the economic growth rate and has a positive correlation with the economic growth in the previous year. In addition, the “$8000 phenomenon,” in which the percentage of respondents who attach importance to “spiritual wealth” rises above that of “material wealth” once Japan’s per capita disposable income (PPP equivalent) exceeds the $8000 level, was verified for the first time in China, where economic conditions and social systems differ from those in Japan.

Suggested Citation

  • Weisheng Zhou & Xiangwei Lin & Xuepeng Qian, 2025. "Relationship Between Life Satisfaction and Economic Growth," Springer Books, in: Foundations of Quantitative Happiness, chapter 0, pages 37-68, Springer.
    • Handle: RePEc:spr:sprchp:978-981-96-1717-3_3
    DOI: 10.1007/978-981-96-1717-3_3
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