Title: Foreign aid, economic outcomes, and happiness

Authors: Parviz Dabir-Alai; Abbas Valadkhani

Addresses: School of Business and Economics, Richmond University, Queens Road, Richmond, Surrey TW10 6JP, UK ' Department of Accounting, Economics and Finance, Faculty of Business and Law, Swinburne University of Technology, Hawthorn, VIC 3122, Australia

Abstract: First, this paper offers a brief survey of recent knowledge and understanding of the impact of foreign aid disbursements on improving economic outcomes. Based on across time and space observations, the record appears to be very poor. Second, it further explores the characteristics of available research on the economics of happiness, or what is sometimes referred to as subjective well-being. This exploration is made quite generally but we believe productively. Third, it investigates the impact of foreign aid disbursements and policies on happiness from an economics perspective. Finally, the paper brings the themes together and offers some suggestions for further research. The paper acknowledges the potential importance of other academic fields, such as psychology, to this exploration.

Keywords: foreign aid; happiness; Oswald; subjective well-being; economic freedom; Graham; hedonic index; Layard; Easterlin; economic outcomes; aid policy; economics; psychology.

DOI: 10.1504/IJHD.2016.079588

International Journal of Happiness and Development, 2016 Vol.3 No.2, pp.97 - 107

Received: 25 Jul 2015
Accepted: 26 Dec 2015
Published online: 04 Oct 2016 *

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