%0 Journal Article
%@ 0305-750X
%A Gehring, Kai
%C Amsterdam
%D 2013
%F heidok:16024
%I Elsevier Science
%J World Development
%K economic freedom, happiness, life satisfaction, government size, institutions
%P 74-90
%R 10.11588/heidok.00016024
%T Who Benefits from Economic Freedom? Unraveling  the Effect of Economic Freedom on Subjective Well-Being
%U https://archiv.ub.uni-heidelberg.de/volltextserver/16024/
%V 50
%X Who benefits from economic freedom? Results from a panel of 86 countries over the 1990–2005 period suggest that overall  economic freedom has a significant positive effect on subjective well-being. Its dimensions legal security and property rights, sound  money, and regulation are in particular strong predictors of higher well-being. The overall positive effect is not affected by socio-demographics;  the effects of individual dimensions vary, however. Developing countries profit more from higher economic freedom, in particular  from reducing the regulatory burden. Culture moderates the effect: societies that are more tolerant and have a positive attitude  toward the market economy profit the most.