Study of global banking crisis of 2008 and happiness index in G7 countries
Article Sidebar
Main Article Content
Abstract
The financial crises of the 1929 Great Depression influenced all the countries of the world on a more frequent and wider scale with the influence of globalisation toward the end of the 20th century. Banking crises are in fact the result of a domino effect of other crises. In this study, the effects of the global banking crisis of 2008 and its effect on happiness index were investigated. With the effects of crises, the individual can experience fragility both sociologically and psychologically. Does this fragility that an individual is experiencing can only be attributed to one effect? Also, the happiness indices between the years 2006 and 2016 of the G7 countries most affected by the 2008 global financial crisis and the GNP per capita figures were tested by the panel ARDL method. Analysed results show that the GNP figures, which declined between 2008 and 2010, have not been produced much effect on happiness levels.
Keywords: Banking crisis, happiness index, G7, panel ARDL.
Jel Classification: C23, G01, I31.
Downloads
Article Details
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with this journal agree to the following terms:- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).