Economic and sociological determinants of well-being in Italy: A regional perspective

Abstract

This paper aims to analyze the determinants of well-being by considering economic and sociological perspectives. These perspectives emphasize the relationship between well-being and “consumption of time”, a concept that relates to the “hyper identity” status. Data are collected starting from a dataset realized by ISTAT (Italian National Institute of Statistics) for the period 2005-2016 and considering a sample of 130 indicators (12 relevant domains) collected by Italian regions, updated annually in the so-called BES (Benessere equo e sostenibile) 2017 report. Taking into account the socio-economic literature collected on the topic, we have structured five econometric models using a stepwise regression methodology. All models have been structured taking into account life satisfaction as the dependent variable and other explanatory variables. The study contributes to the existing literature on the theme of individual well-being and its main determinants, also highlighting possible practical implications in terms of corporate governance and human resource management. Results reveal a positive impact associated with family relationships, mobility satisfaction, and job satisfaction while showing a negative relationship regarding proxies related to the subjective perception of insecurity and uncertainty (deep material deprivation, and home theft).