ECONOMIC DETERMINANTS OF LIFE SATISFACTION FOR DEVELOPING COUNTRIES: CASE OF BRICS-T

Governments want to provide a better life for their citizens all over the world. It is common thinking that people living in country with higher GDP, have satisfaction level. Richard Easterlin firstly challenged this idea, supporting increases after certain point GDP are meaningless developed countries. There many studies both support and criticize called “Easterlin Paradox”. This study aims examine Paradox developing countries determine economic determinants of satisfaction. BRICS-T namely Brazil, Russia, India, China, South Africa Turkey selected as proxies emerging economies. per capita, inflation unemployment used variables. Study results show has still an important role However, it not only determinant specify. Our empirical model shows positive effect on whereas negative effect. Since different characteristics from countries, can be said paradox so valid. According results, governments should try increase while decreasing unemployment.