Socioeconomic and Demographic Factors Affecting Individual’s

Authors

  • Sofia Anwar Professor and chairperson, Department of Economics, Government College University Faisalabad, Pakistan
  • Aisha Asif PhD Scholar, Department of Economics, Government College University Faisalabad, Pakistan

DOI:

https://doi.org/10.26710/reads.v2i1.124

Keywords:

Determinants of Life Satisfaction, World Values Survey, Pakistan, India, Bangladesh

Abstract

Life satisfaction is increasingly recognized as a significant dimension of
wellbeing. Thus the main b of the objective study will be to explore the
association among income, family composition, health, and religion over
life satisfaction. In this effort, correlates of the life satisfaction for the
SAARC countries Pakistan, India, and Bangladesh analyzed. Micro data
from the World Values Survey (WVS) fourth wave (1999 to 2004) for
Pakistan, India and Bangladesh was utilized comprising a wide range of
information on political, social and cultural values of countries. The
multinomial logistic regression was employed to examine the effects of
various socioeconomic and demographic factors on life satisfaction.
Health, income, shows significant positive factor in determining life
satisfaction, however financial satisfaction is overpowered by religious
faith especially in India and Pakistan. Employment had a positive impact
on individual’s satisfaction in Pakistan and India. Gender, education has
insignificant impact on life satisfaction in three countries. Age has
insignificant effect on life satisfaction in Pakistan, while shows
insignificant impact in India and Bangladesh. Preferences for democracy
are associated with life satisfaction in India and Bangladesh.

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Published

2020-07-25

How to Cite

Sofia Anwar, & Aisha Asif. (2020). Socioeconomic and Demographic Factors Affecting Individual’s. Review of Economics and Development Studies, 2(1), 55-68. https://doi.org/10.26710/reads.v2i1.124