무역은 삶의 만족도를 높이는가?: 순차적 프로빗 모형을 통한 실증연구

Does Trade Improve Life Satisfaction?: Empirical Study Based on the Ordered Probit Model

Are we satisfied with our life? What are the most important things which lead to lifesatisfaction? Does trade improve life satisfaction? These questions provided the starting pointfor this paper. Accordingly, using the ordered probit regression model, the purpose of thisstudy was to analyze how subscribing to trade affects an individual’s perception of lifesatisfaction. Thus, an empirical analysis on the relationship between trade and life satisfactionwas conducted using panel data sets which were collected from 1981 to 2008 across 94countries by World Value Survey. Findings revealed that trade has a significantly positiveeffect on the improvement of life satisfaction across 94 countries since trade growth isassociated with increasing an individual’s perception of life satisfaction. Moreover, uponexamining the effects of trade on life satisfaction between the high-income and low-incomegroups, a positive relationship was noted to be very strong in the upper-middle classes thanthe lower-income classes. Together, these findings support the concept that trade increases lifesatisfaction among individuals.