ABSRJ 2021 Volume 12, Number 2

The perception of well-being in European countries

Katarína Kubicová
Mendel University, Czech Republic,
xkubico2@mendelu.cz

Veronika Blašková
Mendel University, Czech Republic,
veronika.blaskova@mendelu.cz

Abstract

This paper deals with the identification of factors that influence the level of subjective well-being of the population in selected countries. The analysis is based on the data from 30 countries, which are classified into groups with similar characteristics by a cluster analysis. The paper then further examines the functional relationship between well-being and the presumed factors with the use of the multiple regression model (OLS method). The factors used for the analysis were the relevant economic and demographic indexes. The results of the regression analysis demonstrate that significant factors included the net income indicator and the risk of poverty rate. The obtained models also indicated a negative impact of the risk of poverty rate and a positive impact of the net income on subjective well-being below the designated level of significance.

Keywords: cluster analysis; multiple regression analysis; net income; risk of poverty rate; well-being

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