ECONOMIC DEVELOPMENT AND HAPPINESS: A CROSS-NATIONS PATH ANALYSIS.
- Department of Management, Post Graduate School, Universitas Muhammadiyah Prof. DR. HAMKA (UHAMKA) Jl. Buncit Raya No. 17, Pancoran, Jakarta Selatan 12790, Indonesia.
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This paper analysis direct and indirect impacts of economic development indicators that consist of economic growth, human development and global competitiveness, on happiness. Cross-section data on economic growth, human development, global competitiveness and happiness were collected from 123 countries and employed to a path analysis model. The result showed that directly, in Path-1 the impact of economic growth on happiness was negative and significant. Indirectly, the impacts of economic growth on happiness varied depend on the path. In Path-7, P43-P31, the impact of economic growth on happiness through global competitiveness was positive and significant. In Path-8, P43-P32-P21, the impact of economic growth on happiness through global competitiveness and human development was negative, but statistically was not significant. Finally, in Path-9, P42-P21, the impact of economic growth on happiness through human development was negative but statistically was not significant. The implication of this finding was that economic growth no longer important factor in development, especially when development aimed to make people happy.
[Muchdie and Bambang D. Hartono. (2016); ECONOMIC DEVELOPMENT AND HAPPINESS: A CROSS-NATIONS PATH ANALYSIS. Int. J. of Adv. Res. 4 (Dec). 989-998] (ISSN 2320-5407). www.journalijar.com
