Abstract:
This dissertation examines the complex associations among various government financial indicators, transparency, and subjective well-being by utilizing historical cross-country level data. The study of subjective well-being is constantly growing as it adds insight to the overall assessment of well-being. This doctoral research assumes that one of the major responsibilities of government is to raise the overall well-being of people in society. Under this assumption, it is expected that increased government funding in related policy areas has a meaningful effect on individual subjective well-being. The findings from this study suggest that different types of public spending (e.g., public welfare, health, education, and defense) as well as financing instruments (public taxes, debts, and current balance) have varying effects on individual subjective well-being. In turn, government transparency has an important moderating role in the association between some financial variables and subjective well-being.
