Social capital and Life Satisfaction : A new approach
Résumé
Social capital and especially trust are the foundation of most personal relationships and a key factor of many economicand social outcomes. The purpose of this paper is to analyze the impact of social capital on subjective well-being,controlling for individual and national effects. Our original empirical approach addresses the problem of endogeneitybetween social capital and subjective well-being, using a non-recursive mixed-process model, with bootstrappedstandard errors accounting for the sampling design. This strategy also makes it possible to differentiate the specificeffects of trust and voluntary association membership on subjective well-being.