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Individuals' Financial Satisfaction and National Priority: A Global Perspective
Hassan F Gholipour1, Reza Tajaddini2, Farhad Taghizadeh-Hesary3
1School of Business, Western Sydney University, Sydney, Australia.
Social Indicators Research
|October 4, 2021
Summary
Financial satisfaction is linked to prioritizing freedom of speech and national beauty. However, it is negatively associated with economic growth, showing complex links between personal finances and national priorities.
Area of Science:
- Social Sciences
- Economics
- Political Science
Background:
- Individual financial well-being can influence societal values and national priorities.
- Understanding these links is crucial for policy-making and social cohesion.
Purpose of the Study:
- To investigate the association between financial satisfaction and preferences for national priorities.
- Examining links with economic growth, national defense, freedom of speech, and national beauty.
Main Methods:
- Utilized World Value Survey (2010-2014) data from 60 countries.
- Employed Probit regression analyses and robust checks with endogenous regressors and 2SLS estimators.
Main Results:
- Financial satisfaction positively correlates with preferences for freedom of speech and national beauty.
- Financial satisfaction negatively correlates with prioritizing economic growth; no significant link to national defense.
- Demographic factors (age, marital status, nationalism, education, employment sector) influence national defense and economic growth preferences.
Conclusions:
- Financial satisfaction shapes individual preferences for certain national priorities.
- Policy interventions should consider the interplay between economic conditions and societal values.
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