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Estimating gross domestic product (GDP) of 289 NUTS regions in Europe with subjective indicators for human and social capital 23.5.201 1 7 The Department of Geosciences and Geography, Division of Urban Geography and Regional Studies/ Mikko Weckroth www.helsinki.fi/yliopisto Outline 1. Aim of the study – what, why and how 2. Economy, happiness and causality 3. Method and data 4. Social well-being as social capital 5. Personal well-being as human capital 6. Descriptive statistics 7. Scatter plots 8. Regression models 9. Interaction terms 10. Conclusions 11 Discussion and future research Osasto / Henkilön nimi / Esityksen nimi 23.5.2017 2 www.helsinki.fi/yliopisto Aim of the study Spatial interdepence between economic well-being (GDP) and personal and social well-being (SWB) Life satisfaction masks important information on the relationship between the objective and subjective well-being Focus on ”functioning and flourishing” measures in SWB instead of life evaluations Multidisciplinarity approach instead of spatial econometric analysis 23.5.2017 3 www.helsinki.fi/yliopisto Economy, happiness and causality ? - The link between happiness and wealth ? - SWB studies as growth critique - Regional studies have focused only on life satisfaction - Three traditions in SWB research (1) life evaluations account (evaluative measures), (2) the hedonistic account (affect measures) (3) the eudaimonic account (flourishing and functioning measures) 23.5.2017 4 www.helsinki.fi/yliopisto SWB Life satisfaction GDP SWB Flourishing and functioning measures Osasto / Henkilön nimi / Esityksen nimi 23.5.201 7 5 www.helsinki.fi/yliopisto Method and data - European Social Survey and Eurostat data - ESS 2012 includes module on functioning measures of SWB (14 items on social and personal wellbeing each ) - Control variables from Eurostat: employment rate, density, education level, governance Index, and R&D expenditure - GDP = control variables + social capital + human capital (+ adjustments for spatial autocorrelation of NUTS) - 37 956 individuals nested in 297 NUTS in 24 countries 23.5.201 7 6 www.helsinki.fi/yliopisto Social well-being as social capital - Briding and bonding social capital - Social capital and economic outcomes ? - Social capital in ESS: - `Social trust´ - `Reciprocity´ - `Local regognition´ - `Social contact and support´ 23.5.201 7 7 www.helsinki.fi/yliopisto Rotated Factor Loadings Item Most people can be trusted, or that you can´t be too carefull in dealing with people Most people would try to take advantage of you if they got a chance, or they would try to be fair Most of the time people try to be helpful or that they are or they are mostly looking out for themselves Social trust Local Social contact Reciprocity recognition and support ,757 ,754 ,656 To what extent do you receive help and support from people you are close to when you need it To what extent do you provide help and support to people you are close to when they need it To what extent do you feel appreciated by people you are close to How much of a time during the past week you felt lonely ,753 ,662 ,563 -,281 To what extent you feel that people in your local area help one another To what extent you feel close to the people in local area ,839 -,491 To what extent you feel people treat you with respect Compared to other people of your age, how often would you say you take part in social activities How often do you socially meet with friends, relatives or colleagues How many people, if any, are there with whom you can Osasto / Henkilön nimi / Esityksen nimi discuss intimate and personal matters In past 12 months, how often did you get Involved in work for voluntary or charitable organisations -,224 ,343 ,479 ,613 ,579 23.5.201 7 8 ,434 www.helsinki.fi/yliopisto -,302 Personal well-being as human capital - Education based human capital (Gleaser) vs. creativity based (Florida) - Indivual asset treated as common good - Human capital in ESS: - `Engagement´ - `Compentence and meaning´ - `Resilience´ - `Autonomy and control´ 23.5.201 7 9 www.helsinki.fi/yliopisto Rotated Factor Loadings Item How much of the time would you generally say you are absorbed in what you are doing How much of the time would you generally say you are enthusiastic about what you are doing How much of the time would you generally say you are interested in what you are doing I generally feel that what I do in life is valueable and worthwhile Most days I feel a sense of accomplishment from what I do There are lots of things I feel I am good at I feel that I am free to decide how to live my life To what extent do you feel that you have a sense of direction in your life To what extent do you make time to do things you really want to do When things go wrong in my life it generally takes me a long time to get back to normal How difficult or easy do you find it to deal with important problems that come up in your life? In my daily life I get a very little chance to show how capable I am Osasto / Henkilön nimi / Esityksen nimi How much of the time during the past week you had lot of energy To what extent you learn new things in life Engagement Competence Autonomy and meaning Resilience and control ,858 ,201 ,765 ,260 ,752 ,252 -,204 -,670 -,200 -,528 ,230 ,218 ,224 -,211 -,230 -,493 -,344 ,300 ,339 -,315 ,312 ,234 ,332 ,454 ,623 ,475 23.5.201 7 ,368 10 ,270 ,326 ,308 ,322 www.helsinki.fi/yliopisto ,255 ,296 Descriptive Statistics Mean Std. Dev. Regional GDP GDP log Min Max N 22941 4,2513 14295 0,342 2600 3,41 72600 289 4,86 289 -,03 ,01 ,02 ,00 ,278 ,226 ,232 ,161 -1,051 -1,026 -,750 -,530 ,706 ,644 ,521 ,385 289 289 289 289 ,00 ,05 ,02 ,02 ,421 ,234 ,224 ,281 -1,584 -,787 -,576 -,734 ,792 ,671 ,778 ,614 289 289 289 289 252,5 679,7 1 7131 289 26,53 8,65 9,9 55,7 272 Human capital Engagement Competence and meaning Resilience Autonomy and control Social Capital Social trust Reciprocity Local recognition Social contact and support Control variables Population density Tertiary educated (% of total population) RD expenditure Osasto / Henkilön nimi / Esityksen nimi EQI index 448,8 ,170 23.5.201 11 490,2 4 7 1,021 www.helsinki.fi/yliopisto -2,48 2962 282 1,90 282 Osasto / Henkilön nimi / Esityksen nimi 23.5.201 7 12 www.helsinki.fi/yliopisto Osasto / Henkilön nimi / Esityksen nimi 23.5.201 7 13 www.helsinki.fi/yliopisto Osasto / Henkilön nimi / Esityksen nimi 23.5.201 7 14 www.helsinki.fi/yliopisto Osasto / Henkilön nimi / Esityksen nimi 23.5.201 7 15 www.helsinki.fi/yliopisto Osasto / Henkilön nimi / Esityksen nimi 23.5.201 7 16 www.helsinki.fi/yliopisto Unadjusted regression estimates OLS Constant Human capital Engagement Competence and meaning Recilience Autonomy and control Social Capital Social trust Reciprocity Local recognition Social contact and support Control variables Population density (log) Tertiary education (log) RD expenditure (log) Osasto / Henkilönrate nimi / Esityksen Employment (log)nimi EQI index OLS 2.878 *** Spatial filtering 2.589 *** 0.069 0.815*** 0.944*** 0.663*** -0.003 0.155*** 0.097 -0.199** 0.569*** 0.237* -0.210* 0.786*** 0.118*** 0.014 -0.037 0.221*** 0.150*** 0.131*** 1.360*** 0.464*** 4.413 *** 0.263*** 0.078 *** -0.203 ** 0.302 *** 23.5.201 0.434 *17 7 www.helsinki.fi/yliopisto 0.022 0.078*** -0.212*** 0.323*** 0.576*** 0.167*** -0.162*** 0.234*** Interaction terms Bridging or bonding social capital? ´Social trust´ (0.150***) X ´social contact and support (0.234***)´ has 0.209*** effect Education based or ”creativity” based human capital? ´Competence and meaning´ (0.167***) X ´Education rate´ (-0.212*) has a positive effect of 0.656*** Osasto / Henkilön nimi / Esityksen nimi 23.5.201 7 18 www.helsinki.fi/yliopisto Conclusions - ´Social trust´, ´ Social contact and support´ and ´compentence and meaning´ have robust and positive association to regional economic perfomance - Bridging and bonding social capital are associated with high GDP in a cross-sectional analysis - Subjective human capital (`competence and meaning´) is associated with high GDP while education based (´tertiary education`) is not Osasto / Henkilön nimi / Esityksen nimi 23.5.201 7 19 www.helsinki.fi/yliopisto Discussion and what next - Enlargement to the conceptual toolbox for objective and subjective well-being comparisons - Policies focusing on positive functioning of population might carry economic outcomes - European Social Survey data should be utilized for regional analysis - Time series analysis with ESS - More exact measures for economic productivity - Inequality rather than aggeregates Osasto / Henkilön nimi / Esityksen nimi 23.5.201 7 20 www.helsinki.fi/yliopisto Thank you for your attention! Weckroth, M. T. K., Kemppainen, T., & Sørensen, J. F. L. (2015). Predicting GDP of 289 NUTS Regions in Europe with Subjective Indicators for Human and Social Capital. Regional Studies,Regional Science, 2(1), 311-330. Osasto / Henkilön nimi / Esityksen nimi 23.5.201 7 21 www.helsinki.fi/yliopisto