Connecting Democracy, Military expenditures and Happiness in Developing Economies
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Date
2021-06-02
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UMT,Lahore
Abstract
The actual purpose of the study is to explore the link between Democracy,
Military expenditures and Happiness in developing economies using the Feasible Generalized
Least Squares (FGLS) by via panel data from 2006 to 2019. Here we are using the data of 9
countries. Thesis also investigates the determinants of democracy. According to this study, we
have taken the Happiness as dependent variable and DEMO, ENVI, HC, POL.INST, EMP, ME
as independent variables. There is a positive relationship between happiness and all other
independent variables except human capital which has negative relationship with happiness. The
correlation matrix shows that there is no multicollinearity among variables.