The OECD Better Life Index: A Guide for Well-Being Based Economic Diplomacy

Koronakos, Gregory; Smirlis, Yiannis; Sotiros, Dimitris; Despotis, Dimitris K.

doi:10.1007/978-3-030-84535-3_2

Cited by 3 publications

(3 citation statements)

References 31 publications

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“…Furthermore, since these variables represent several components of the QoL construct and are conceptually unique, they are neither highly correlated nor covariate with one another. This also has similarities with the organization for economic cooperation and development (OECD) better life index recorded in the study of Durand [53], Koronakos et al [54] for recognizing and building a scale of QoL in many aspects. As mentioned, the authors have bridged the gap from previous studies that only measured QoL uni-dimensionally, for instance, in favor of health.…”

Section: Resultssupporting

confidence: 56%

Modeling quality of life of Ho Chi Minh City dwellers

Huynh

Nguyen

et al. 2023

IJPHS

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Quality of life (QoL) has received more and more attention from scholars and researchers from various fields such as healthcare, philosophy, psychology, sociology, and especially economics after many decades of focusing on income. However, researchers have faced many challenges to gain the proper measurement of QoL due to the contextually based concept. This study employs the primary data conducted in Ho Chi Minh City including 500 observations in 2022, with the application of partial least squares structural equation modeling (PLS-SEM) to construct a hierarchical model to measure the QoL of the dwellers in Ho Chi Minh City. The empirical model supports the multi-level hierarchical structure of the QoL. The statistically significant contribution of economic, social, and environmental dimensions in the integrated index has been confirmed. The environmental component shares the highest weight, followed by the economic factor. The social aspect contributes the least share in the quality- of-life index. Further analysis of the sub-criteria in each dimension has been made. The findings implicitly suggest the policy concentration on sustainable factors enhancement to raise the QoL. It was a milestone for policy makers to switch the focus from material to non-material factors in the life quality model in Vietnam.

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Section: Resultssupporting

confidence: 56%

Modeling quality of life of Ho Chi Minh City dwellers

Huynh

Nguyen

et al. 2023

IJPHS

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“…According to [3], the BLI provides measures for several well-being aspects and can serve as a tool for economic diplomacy to pursue international goals for economy and sustainability.…”

Section: Introductionmentioning

confidence: 99%

Multicriteria and Statistical Approach to Support the Outranking Analysis of the OECD Countries

et al. 2022

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Since 2011, the Organization for Economic Co-operation and Development (OECD) has maintained the Better Life Initiative, which proposes a quality-of-life index called Better Life Index (BLI), consisting of 11 dimensions. This paper presents a multivariate analysis approach that aims to reduce the BLI dimensions. For this purpose, we applied factor extraction by main components to reorganize BLI variables into three dimensions (factors): dimension 1 -personal development and support factors; dimension 2 -financial balance; and dimension 3 -insecurity with the labor market. These three factors were used as criteria for the PROMETHEE-SAPEVO-M1 multicriteria method. We applied the methodology to data from 38 countries (35 from OECD and 3 non-OECD economies). As a result, we verified that Denmark, Iceland and Switzerland stood out as the countries with the best performances after the proposed analysis. Among the 38 countries evaluated, 19 showed positive flows, allowing the distribution into two well-defined groups. Also, adopting this hybrid methodology of multivariate analysis and multicriteria was advantageous because it reduced the evaluation criteria that the decision-maker needs to evaluate. We compared the results obtained by PROMETHEE-SAPEVO-M1 with the ViseKriterijumska Optimizacija i Kompromisno Resenje (VIKOR) and Elimination Et Choix Traduisant la Realité -Multicriteria Ordinal (ELECTRE-MOr) methods, with remarkably similar results. The main contribution of this study is to provide a hybrid methodology composed of a statistical structuring approach (factor analysis) in a problem with multiple conflicting criteria. After all, the approach proposed in this article represented a 94% reduction in the decision maker's cognitive effort.INDEX TERMS Better life index, ELECTRE-MOr, factor analysis, PROMETHEE-SAPEVO-M1, VIKOR.

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“…perspective. Similarly,Koronakos et al (2022) discussed the issue of economic diplomacy based on well-being with the results of better life index measurement. Although there are studies examining data from Turkey (Aydan et al, 2022; Brzezińska, 2022), studies based on current data in this field are more limited(Nakajima et al, 2022;Takahashi et al, 2022).…”

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confidence: 99%

Porównanie Japonii i krajów OECD pod względem zasobów związanych z dobrostanem

İnce

2023

PROBL EKOROZW

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While evaluating the concept of well-being for sustainability, which is defined as the feeling of having the physical and psychological resources necessary for a good life, it is essential to benefit from different perspectives referring to socio-psychological factors or their possible effects as well as financial and economic data. The aim of this study, which deals with the well-being level in terms of sustainability resources, is to evaluate the OECD countries and examine the differences and similarities in Japan, one of the G8 countries. According to the results of the multidimensional scaling analysis conducted for this purpose, Japan is in the same cluster as Luxembourg, which has the highest positive value, while Germany is one of the countries with the highest rate of divergence from other G8 countries in the difference matrix.

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The OECD Better Life Index: A Guide for Well-Being Based Economic Diplomacy

Cited by 3 publications

References 31 publications

Modeling quality of life of Ho Chi Minh City dwellers

Modeling quality of life of Ho Chi Minh City dwellers

Multicriteria and Statistical Approach to Support the Outranking Analysis of the OECD Countries

Porównanie Japonii i krajów OECD pod względem zasobów związanych z dobrostanem

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