Gross National Happiness and Macroeconomic Indicators in the Kingdom of Bhutan

Author/Editor:

Sriram Balasubramanian ; Paul Cashin

Publication Date:

January 17, 2019

Electronic Access:

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Summary:

This paper examines the origins and use of the concept of Gross National Happiness (or subjective well-being) in the Kingdom of Bhutan, and the relationship between measured well-being and macroeconomic indicators. While there are only a few national surveys of Gross National Happiness in Bhutan, the concept has been used to guide public policymaking for the country’s various Five-Year Plans. Consistent with the Easterlin Paradox, available evidence indicates that Bhutan’s rapid increase in national income is only weakly associated with increases in measured levels of well-being. It will be important for Bhutan to undertake more frequent Gross National Happiness surveys and evaluations, to better build evidence for comovement of well-being and macroeconomic concepts such as real national income.

Series:

Working Paper No. 2019/015

Subject:

English

Publication Date:

January 17, 2019

ISBN/ISSN:

9781484389713/1018-5941

Stock No:

WPIEA2019015

Pages:

26

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