Does Transition Make You Happy?

EBRD Working Paper No. 91

Posted: 14 Jul 2005

See all articles by Peter Sanfey

Peter Sanfey

European Bank for Reconstruction and Development (EBRD)

Utku Teksoz

European Bank for Reconstruction and Development; University of Greenwich - Business School

Multiple version iconThere are 2 versions of this paper

Date Written: June 2005

Abstract

This paper analyzes life satisfaction in transition countries using evidence from the World Values Survey. The paper demonstrates that individuals in transition economies on average record lower values of self-reported satisfaction with life compared with those in non-transition countries. An econometric analysis shows that females, people with higher levels of education and higher incomes are happier, and happiness declines with age until the early-fifties. Self-employed people in transition countries show a higher level of satisfaction relative to full-time employees, in contrast to evidence from non-transition countries. A comparison across time for a smaller sample of countries shows that life satisfaction levels have returned close to pre-transition levels in most cases, after a dip in the mid-1990s. In addition, satisfaction levels are highest in those countries where market-oriented reforms are most advanced and where inequality is lower.

Keywords: Happiness, transition, reforms

JEL Classification: D10, O53, P20

Suggested Citation

Sanfey, Peter and Teksöz, Utku, Does Transition Make You Happy? (June 2005). EBRD Working Paper No. 91, Available at SSRN: https://ssrn.com/abstract=755446

Peter Sanfey (Contact Author)

European Bank for Reconstruction and Development (EBRD) ( email )

One Exchange Square
London, EC2A 2JN
United Kingdom
+44 20 7338 6227 (Phone)
+44 20 7338 6110 (Fax)

Utku Teksöz

European Bank for Reconstruction and Development

One Exchange Square
London, EC2A 2JN
United Kingdom

University of Greenwich - Business School ( email )

Old Royal Naval College
Park row
London, SE10 9LS
United Kingdom

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