The Relationship Between Institutional Quality and Subjective Well-Being: A Study on Latin America

Gülşah Adam; Ayşegül Yıldız

Makale detayları

The Relationship Between Institutional Quality and Subjective Well-Being: A Study on Latin America

Yazarlar:

Gülşah Adam | Ayşegül Yıldız

Yayıncı:

Ahmet Arif EREN

Ana Başlıklar:

Ekonometrik ve İstatistiksel Yöntemler | Refah Ekonomisi

Dergi:

Fiscaoeconomia Vol.9 Issue 2, pp.903-926

Belge Tipi:

Makale

Yayın Tarihi:

5/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001348872

pISSN:

2564-7504

Anahtar kelimeler:

Özet:

 Since its earliest development, the field of economics has been concerned with identifying the fundamental drivers of human welfare. Economists such as Adam Smith, John Stuart Mill, and David Ricardo, who adhered to the classical economic view, emphasised that the basic elements that shape human well-being are concepts such as institutions, public policies, and the rule of law. In light of these discussions, this study analyses the relationship between the quality of formal institutions and subjective well-being in Latin American countries. While subjective well-being is measured by individuals life satisfaction, the quality of formal institutions is evaluated based on factors such as the level of democratisation, the legal quality index, and the share of government consumption expenditures in national consumption. The research uses Gallup World Poll GWP data covering Latin American countries for the period 2010-2021. The findings show that there is a significant and positive relationship between legal quality index and subjective well-being. In addition, it is observed that low levels of government consumption within total government expenditures positively impact subjective well-being. This study draws attention to the importance of institutional quality in ensuring social peace in Latin America by highlighting the effect of institutional improvements on the well-being of individuals for policymakers.

 Since its earliest development, the field of economics has been concerned with identifying the fundamental drivers of human welfare. Economists such as Adam Smith, John Stuart Mill, and David Ricardo, who adhered to the classical economic view, emphasised that the basic elements that shape human well-being are concepts such as institutions, public policies, and the rule of law. In light of these discussions, this study analyses the relationship between the quality of formal institutions and subjective well-being in Latin American countries. While subjective well-being is measured by individuals life satisfaction, the quality of formal institutions is evaluated based on factors such as the level of democratisation, the legal quality index, and the share of government consumption expenditures in national consumption. The research uses Gallup World Poll GWP data covering Latin American countries for the period 2010-2021. The findings show that there is a significant and positive relationship between legal quality index and subjective well-being. In addition, it is observed that low levels of government consumption within total government expenditures positively impact subjective well-being. This study draws attention to the importance of institutional quality in ensuring social peace in Latin America by highlighting the effect of institutional improvements on the well-being of individuals for policymakers.

 Since its earliest development, the field of economics has been concerned with identifying the fundamental drivers of human welfare. Economists such as Adam Smith, John Stuart Mill, and David Ricardo, who adhered to the classical economic view, emphasised that the basic elements that shape human well-being are concepts such as institutions, public policies, and the rule of law. In light of these discussions, this study analyses the relationship between the quality of formal institutions and subjective well-being in Latin American countries. While subjective well-being is measured by individuals life satisfaction, the quality of formal institutions is evaluated based on factors such as the level of democratisation, the legal quality index, and the share of government consumption expenditures in national consumption. The research uses Gallup World Poll GWP data covering Latin American countries for the period 2010-2021. The findings show that there is a significant and positive relationship between legal quality index and subjective well-being. In addition, it is observed that low levels of government consumption within total government expenditures positively impact subjective well-being. This study draws attention to the importance of institutional quality in ensuring social peace in Latin America by highlighting the effect of institutional improvements on the well-being of individuals for policymakers.

 İktisat temellerinin atıldığı günden bu yana, ekonomistler bireylerin refah düzeyine etki eden faktörleri anlamaya çalışmaktadır. Klasik iktisat görüşüne bağlı Adam Smith, John Stuart Mill ve David Ricardo gibi iktisatçılar insan refahını şekillendiren temel unsurların kurumlar, kamu politikaları ve hukukun üstünlüğü gibi kavramlar olduğunu vurgulamıştır. Bu tartışmalar ışığında mevcut çalışma, Latin Amerika ülkelerinde resmi kurumsal kalite ile öznel iyi oluş arasındaki ilişkiyi analiz etmektedir. Öznel iyi oluş, bireylerin yaşam memnuniyeti ile ölçülürken, resmi kurumsal kalite demokratikleşme düzeyi, hukuki kurumsal kalite endeksi ve kamu tüketim harcamalarının toplam harcamalar içindeki payı gibi faktörler temel alınarak değerlendirilmiştir. Araştırma, 2010-2021 dönemine ait Latin Amerika ülkelerini kapsayan Gallup Dünya Anketi GWP verilerini kullanmaktadır. Bulgular, yüksek hukuki kurumsal kalite ve öznel iyi oluş seviyeleri arasında anlamlı ve pozitif bir ilişki olduğunu göstermektedir. Ayrıca, kamu tüketim harcamalarının toplam harcamalar içindeki payının düşüklüğünün bireylerin yaşamdan duydukları memnuniyeti artırdığı gözlemlenmiştir. Bu çalışma, politika yapıcılar için, kurumsal kalite iyileştirmelerinin bireylerin refahına olan etkisini vurgulayarak, Latin Amerikada toplumsal huzurun sağlanmasında kurumsal kalitenin önemine dikkat çekmektedir.

Makale detayları

The Relationship Between Institutional Quality and Subjective Well-Being: A Study on Latin America

Yazarlar:

Gülşah Adam | Ayşegül Yıldız

Yayıncı:

Ahmet Arif EREN

Ana Başlıklar:

Ekonometrik ve İstatistiksel Yöntemler | Refah Ekonomisi

Dergi:

Fiscaoeconomia Vol.9 Issue 2, pp.903-926

Belge Tipi:

Makale

Yayın Tarihi:

5/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001348872

pISSN:

2564-7504

Institutional Quality

Subjective Well-being

Structural Equation ModelingKurumsal Kalite

Öznel İyi Oluş

Yapısal Eşitlik Modellemesi

Sayı

Makale detayları

The Relationship Between Institutional Quality and Subjective Well-Being: A Study on Latin America

Yazarlar: Gülşah Adam | Ayşegül Yıldız

Yayıncı: Ahmet Arif EREN

Ana Başlıklar: Ekonometrik ve İstatistiksel Yöntemler | Refah Ekonomisi

Dergi: Fiscaoeconomia Vol.9 Issue 2, pp.903-926

Belge Tipi: Makale

Yayın Tarihi: 5/2025

Belge Dili: Türkçe

Document ID (Org No.): 2001348872

pISSN: 2564-7504

Institutional Quality

Subjective Well-being

Structural Equation ModelingKurumsal Kalite

Öznel İyi Oluş

Yapısal Eşitlik Modellemesi

Sayı

Yazarlar:

Gülşah Adam | Ayşegül Yıldız

Yayıncı:

Ahmet Arif EREN

Ana Başlıklar:

Ekonometrik ve İstatistiksel Yöntemler | Refah Ekonomisi

Dergi:

Fiscaoeconomia Vol.9 Issue 2, pp.903-926

Belge Tipi:

Makale

Yayın Tarihi:

5/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001348872

pISSN:

2564-7504