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Outline

Study explores spatial interdependence between economic and personal/social well-being, focusing on functioning and flourishing measures. Utilizes ESS and Eurostat data with regression models. Bridging bondingsocial capital and human capital impact on GDP.

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Outline

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  1. Estimating gross domestic product (GDP) of 289 NUTS regions in Europe with subjective indicators for human and social capital The Department of Geosciences and Geography, Division of Urban Geography and Regional Studies/ Mikko Weckroth

  2. Outline 1. Aim of thestudy – what, why and how 2. Economy, happiness and causality 3. Method and data 4. Socialwell-being as social capital 5. Personal well-being as human capital 6. Descriptivestatistics 7. Scatterplots 8. Regression models 9. Interactionterms 10. Conclusions 11 Discussion and futureresearch Osasto / Henkilön nimi / Esityksen nimi

  3. 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

  4. Economy, happiness and causality ? The link between happiness and wealth ? SWB studies as growthcritique Regionalstudieshavefocusedonly 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)

  5. SWB Life satisfaction GDP SWB Flourishing and functioning measures Osasto / Henkilön nimi / Esityksen nimi

  6. Method and data European SocialSurvey and Eurostat data ESS 2012 includes module on functioning measures of SWB (14 items on social and personal wellbeing each ) Control variablesfromEurostat: employmentrate, density, educationlevel, governance Index, and R&D expenditure GDP = controlvariables + social capital + human capital (+ adjustments for spatialautocorrelation of NUTS) 37 956 individualsnested in 297 NUTS in 24 countries

  7. Socialwell-being as social capital Briding and bondingsocial capital Social capital and economicoutcomes? Social capital in ESS: `Socialtrust´ `Reciprocity´ `Localregognition´ `Socialcontact and support´

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  9. Personal well-being as human capital Educationbasedhuman capital (Gleaser) vs. creativitybased (Florida) Indivualassettreated as commongood Human capital in ESS: `Engagement´ `Compentence and meaning´ `Resilience´ `Autonomy and control´

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  18. 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

  19. 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

  20. 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

  21. Thankyou for yourattention!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,RegionalScience, 2(1), 311-330. Osasto / Henkilön nimi / Esityksen nimi

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