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Welfare State, Income, and Public Debt: Their Implications for Latin American Life Satisfaction

Welfare State, Income, and Public Debt: Their Implications for Latin American Life Satisfaction

Jessica Dávalos-Aceves, José G. Vargas-Hernández
Copyright: © 2022 |Pages: 26
ISBN13: 9781799889960|ISBN10: 1799889963|ISBN13 Softcover: 9781799889977|EISBN13: 9781799889984
DOI: 10.4018/978-1-7998-8996-0.ch011
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MLA

Dávalos-Aceves, Jessica, and José G. Vargas-Hernández. "Welfare State, Income, and Public Debt: Their Implications for Latin American Life Satisfaction." Handbook of Research on Interdisciplinary Studies on Healthcare, Culture, and the Environment, edited by Mika Markus Merviö, IGI Global, 2022, pp. 178-203. https://doi.org/10.4018/978-1-7998-8996-0.ch011

APA

Dávalos-Aceves, J. & Vargas-Hernández, J. G. (2022). Welfare State, Income, and Public Debt: Their Implications for Latin American Life Satisfaction. In M. Merviö (Ed.), Handbook of Research on Interdisciplinary Studies on Healthcare, Culture, and the Environment (pp. 178-203). IGI Global. https://doi.org/10.4018/978-1-7998-8996-0.ch011

Chicago

Dávalos-Aceves, Jessica, and José G. Vargas-Hernández. "Welfare State, Income, and Public Debt: Their Implications for Latin American Life Satisfaction." In Handbook of Research on Interdisciplinary Studies on Healthcare, Culture, and the Environment, edited by Mika Markus Merviö, 178-203. Hershey, PA: IGI Global, 2022. https://doi.org/10.4018/978-1-7998-8996-0.ch011

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Abstract

The effect of economics on the subjective well-being of people has been studied by treating country information in the same way as data from individuals. The objective of this chapter is to analyze 17 Latin American countries with data from 2016 by including both effects handled into two different levels. This work contributes to extend the current debate regarding the impact of economics on subjective well-being of people by applying the multilevel method. Some of the findings revealed that both the individual economic situation as well as the welfare state and the rule of law of a country generate effects on subjective well-being. Similarly, the effect of interaction between some variables was analyzed, and it was concluded that people with great economic difficulties have a stronger relationship with subjective well-being in areas of higher government spending and higher tax burden.

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