Development of the indicative system for assessing the «happiness» level using global indexes, including human capital
( Pp. 148-153)
More about authors
Olga S. Prichina
Dr. Sci. (Econ.), Professor, Professor of the Department of Economic Theory and World Economy
University «Synergy»
Moscow, Russian Federation Viktor D. Orekhov Cand. Sci. (Eng.), Director of the scientific and educational center
International Institute of Management LINK
Zhukovsky, Russian Federation
University «Synergy»
Moscow, Russian Federation Viktor D. Orekhov Cand. Sci. (Eng.), Director of the scientific and educational center
International Institute of Management LINK
Zhukovsky, Russian Federation
Abstract:
A comprehensive comparative study was conducted of the impact on the World Happiness Index (WHI) of ten global Predictor Indices: The highest pair correlation with WHI is characterized by the Predictors: GDP per capita (GDP/С), Legatum Prosperity Index (LPI) and Index of Economic Freedom (IEF). However, none of them provides a satisfactory correlation with WHI (determination coefficient - R2 no more than 0.74 for a sample of 24 countries with the highest GDP). The dependence of WHI on a number of Predictors has two lows with a trend in the form of a fifth degree polynomial, which characterizes the characteristics of the dynamics of the level of happiness with an improvement in well-being. The dependence of the World Happiness Index on Predictors, which is a linear combination of two indices, is studied. Among them, the smallest regression error - ΔR2 = 1 - R2 (13%) is provided by the composition of Worldwide Governance Indicators (WGI) and GDP / D (40% of the contribution). Among the Predictors formed from multiple indices, the smallest regression error with WHI is provided by the Predictor, which includes 35% WGI, 30% GDP/С, 14% IEF, 9% LPI and 12% human capital indices. It provides low regression error ΔR2 = 7.4% for a sample of the 12 largest countries by GDP, and for the average regression error for samples from 6, 12, 24 and 48 countries - ΔR2 = 11.4% Deviation of the level of happiness calculated from the regression model from World Happiness data Index for Russia, China, USA and Germany does not exceed 3%.
How to Cite:
Olga S.P., Viktor D.O., (2020), DEVELOPMENT OF THE INDICATIVE SYSTEM FOR ASSESSING THE «HAPPINESS» LEVEL USING GLOBAL INDEXES, INCLUDING HUMAN CAPITAL. Economic Problems and Legal Practice, 2 => 148-153.
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Miller T., Kim A. B., Roberts J. M., Tyrrel P. (2019) Index of Economic Freedom. Washington: Heritage Foundation. http://www.heritage.org/index
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The Legatum Prosperity Index, 2019, Legatum Institute, 11 Charles Street, London W1J 5DW, United Kingdom URL: https://www.prosperity.com/download file/view inline/369
Diener, Ed. Rising income and the subjective well-being of nations / Ed. Diener // Journal of Personality and Social Psychology. - Vol. 104 (2). - Feb. 2013. - P. 267-276.
Argayl M. Psikhologiya schast ya. M., Progress, 1982. URL: https://knigogid.ru/books/907975-psihologiya-schastya/toread
Lenkovskaya R.R., Izotova I.N. Grazhdansko-pravovye sposoby zashchity informatsii/ V sbornike: Aktual nye problemy rossiyskogo zakonodatel stva/ Sitdikova L.B., Volkova M.A. Sbornik statey. Moskva, 2010. S. 109-116.
Lenkovskaya R.R. Deyatel nost prokuratury v sisteme obespecheniya ekonomicheskoy bezopasnosti Rossiyskoy Federatsii. Dissertatsiya na soiskanie uchenoy stepeni kandidata yuridicheskikh nauk/ Moskva, 2005.
Lenkovskaya R.R., SHilovskaya A.L. Zashchita informatsii v seti Internet// Problemy ekonomiki i yuridicheskoy praktiki. 2017. № 5. S. 89-93.
Keywords:
Happiness Index, regression analysis, correlation, modeling, forecasting, GDP per capita, happiness economy, human capital, Happiness Index.
