Isaac Scientific Publishing
Journal of Advances in Economics and Finance
JAEF > Volume 2, Number 2, May 2017

Productivity and Relationships with Life Happiness, and Cross-Cultural Dimensions: A Multinational Quantitative Analysis

Download PDF  (413.7 KB)PP. 127-147,  Pub. Date:May 17, 2017
DOI: 10.22606/jaef.2017.22005

Author(s)
Peter C. Ogonowski
Affiliation(s)
Economics Division, CDM Smith, Orlando, United States
Abstract
This study evaluated the relationships between national productivity, life happiness, and cultural dimensions in a global framework. The purpose of the study originated from the continued quest for fuller explanations behind persistent differences in international productivity performance, together with the recent worrisome productivity growth deceleration observed in multiple of the world’s key economies. Based on applying multivariate regression analysis and hypotheses testing, it was found that the study’s omnibus null hypothesis, all four main null hypotheses were rejected in favor of their alternative hypotheses. The results suggested that globalization-impacted businesses seeking to optimize their productivity performance could capitalize on their human factor allocations drawing on the energy of life happiness and certain cultural dimensions—particularly individualism and power distance, either singularly or in combination with other explanatory variables. Implications and further research recommendations for enhancing the understanding of and improving productivity outcomes in a globalizing economy were also provided.
Keywords
Productivity, life happiness, cultural dimensions, international economics, globalization
References
  • [1]  Acemoglu, D., and F. Zilibotti, “Productivity differences,” Quarterly Journal of Economics, vol. 116, no. 2, pp.563-606. 2001.
  • [2]  Baily, M., and F. Comes, “Prospects for growth: An interview with Robert Solow. McKinsey Quarterly, vol. 3, pp. 151-157, 2014. Available: http://www.mckinsey.com/insights/mckinsey_quarterly.
  • [3]  Bank of International Settlements. 85th annual report. 2015 Available: http://www.bis.org/publ/arpdf/ ar2015e.pdf.
  • [4]  Bergeaud, A., G. Cette, and R. Lecat, “Productivity trends from 1890 to 2012 in advanced countries,” Banque de France Working Papers, vol. 475, pp. 1-48, 2014. Available: http://papers.ssrn.com/sol3/papers.cfm? abstract_id=2414367.
  • [5]  Bjornskov, C. “The happy few: Cross–country evidence on social capital and life satisfaction,” Kyklos, vol. 56, no.1, pp. 3-16, 2003.
  • [6]  Bjornskov, C., A. Dreher, and J. Fischer, “Cross-country determinants of life satisfaction: Exploring different determinants across groups in society,” Social Choice and Welfare, vol. 30, no. 1, pp. 119-173, 2008.
  • [7]  Blanchflower, D., and A. Oswald, “International happiness: A new view on the measure of performance,”Academy of Management Perspectives, vol. 25, no. 1, pp. 6-22, 2001.
  • [8]  Bloomberg. Consumer comfort index. 2016. Available: http://topics.bloomberg.com/bloomberg-consumer-comfort-index/
  • [9]  Bok, S. Exploring happiness from Aristotle to brain science. Yale University Press, 2010.
  • [10]  Borooah, V. “How much happiness is there in the world? A cross-country study,” Applied Economics Letters, vol.13, no. 8, pp. 483-488, 2006.
  • [11]  Brynjolfsson, E. “The productivity paradox of information technology,” Communications of the ACM, vol. 36, no.12, pp. 67-77, 1993.
  • [12]  Bureau of Labor Statistics. International comparisons of manufacturing productivity and unit labor cost trends,2011, 2012a. Available: http://www.bls.gov/news.release/pdf/prod4.pdf
  • [13]  Bureau of Labor Statistics. Labor force projections to 2020: A more slowly growing workforce. 2012b. Available: http://www.bls.gov/opub/mlr/2012/01/art3full.pdf
  • [14]  Bureau of Labor Statistics. Labor force projections to 2022: The labor force participation rate continues to fall. 2013. Available: http://www.bls.gov/opub/mlr/2013/article/pdf/labor-force-projections-to-2022-the-labor-forceparticipation-rate-continues-to-fall.pdf
  • [15]  Bureau of Labor Statistics. Productivity and costs, first quarter 2015. 2016a. Available: http://www.bls.gov/ news.release/prod2.nr0.htm.
  • [16]  Bureau of Labor Statistics. Preliminary multifactor productivity trends, 2014. 2016b. Available: http://www.bls.gov/news.release/prod3.nr0.htm
  • [17]  Carabelli, A., and M. Cedrini, “The economic problem of happiness: Keynes on happiness and economics,”Forum for Social Economics, vol. 40, no. 3, pp. 335-359, 2011.
  • [18]  Cho, D., and H. Moon, From Adam Smith to Michael Porter: Evolution of competitiveness theory. World Scientific & Imperial College Press, 2013.
  • [19]  Chuluun, T., and C. Graham, “Local culture and firm behavior: Do firms in happy places invest more,” Social Sciences Research Network, pp. 1-30, 2015.
  • [20]  Clark, A., P. Frijters, and M. Shields, “Relative income, happiness, and utility: An explanation for the Easterlin paradox and other puzzles,” Journal of Economic Literature, vol. 46, no. 1, pp. 95-144, 2008.
  • [21]  Clark, G. “Winter Is Coming: Robert Gordon and the Future of Economic Growth,” American Economic Review,vol. 106, no. 5, pp. 68-71, 2016.
  • [22]  Clements, B., K. Dybczak, V. Gaspar, S. Gupta, and M. Soto, “The fiscal consequences of shrinking populations,”International Monetary Fund Staff Discussion Note, vol. 21, pp. 1-34, 2015.
  • [23]  Cohen, D., and M. Soto, “Growth and human capital: good data, good results,” Journal of Economic Growth, vol.12, no. 1, pp. 51-76, 2007.
  • [24]  Conference Board. Productivity brief 2015: Global productivity growth stuck in the slow lane with no signs of recovery in sight. 2015a. Available: http://www.conference-board.org/retrievefile.cfm?filename=The-ConferenceBoard-2015-Productivity-Brief.pdf&type=subsite
  • [25]  Conference Board. Total Economy Database. 2015b. Available: http://www.conference-board.org/data/economydatabase/
  • [26]  Conference Board. Consumer confidence index. 2016 Available: http://www.conference-board.org/data/consumerconfidence.cfm
  • [27]  Cooper, C., and P. Schindler, Business research methods (11th ed.). McGraw-Hill, 2011.
  • [28]  Creswell, J. Research design: Qualitative, quantitative, and mixed methods approaches (3rd ed.). Sage Publications, Inc., 2009.
  • [29]  Crotty, M. The foundations of social research: Meaning and perspective in the research process. Sage Publications, 2009.
  • [30]  Culture. [2014 word of the year] In Merriam-Webster’s collegiate dictionary. n.d. Available: http://www.merriam-webster.com/top-ten-lists/2014-word-of-the year/culture.html
  • [31]  de Mooij, M., and G. Hofstede, “The Hofstede model,” International Journal of Advertising, vol. 29, no. 1, pp.85-110, 2010.
  • [32]  de Mooij, M., and G. Hofstede, Cross-cultural consumer behavior: A review of research findings. Journal of International Consumer Marketing, vol. 23, no. 3/4, pp. 181-192, 2011.
  • [33]  Deaton, A. “In pursuit of happiness,” The Lancet, vol. 376, no. 9754, p. 1729, 2010.
  • [34]  Deaton, A., and A. Stone, “Two happiness puzzles,” The American Economic Review, vol. 103, no. 3, pp. 591-597, 2013.
  • [35]  Deleire, T., and A. Kalil, “Does consumption buy happiness? Evidence from the United States,” International Review of Economics, vol. 57, no. 2, pp. 163-176, 2010.
  • [36]  Del Gatto, M., A. Di Liberto, and C. Petraglia, “Measuring productivity,” Journal of Economic Surveys, vol. 25,no. 5, pp. 952-1008, 2011.
  • [37]  Dent, H. The demographic cliff: How to survive and prosper during the great deflation of 2014-2019. Penguin Random House Company, 2014.
  • [38]  Dey-Chowdhury, S. “International comparisons of productivity: An update to understanding revisions,”Economic and Labour Market Review, vol. 2, no. 3, pp. 34-42, 2008.
  • [39]  Di Tella, R., and R. MacCulloch, “Some uses of happiness data in economics,” The Journal of Economic Perspectives, vol. 20, no. 1, pp. 25-46, 2006.
  • [40]  Domar, E. “Expansion, rate of growth, and employment,” Econometrica, vol. 14, no. 2, pp. 137-147, 1946.
  • [41]  Duarte, M., and D. Restuccia, “The productivity of nations,” Economic Quarterly - Federal Reserve Bank of Richmond, vol. 92, no. 3, pp. 195-223, 2006.
  • [42]  Duarte, M., and D. Restuccia,“The role of the structural transformation in aggregate productivity,” Quarterly Journal of Economics, vol. 125, no. 1, pp. 129-173, 2010.
  • [43]  Dunn, E., and M. Norton, Happy money: The science of happier spending. Simon & Shuster, 2013.
  • [44]  Easterlin, R.” Does economic growth improve the human lot? Some empirical evidence,” in P. David and M.Reder (Ed.), Nations and households in economic growth: Essays in honor of Moses Abramowitz, Academic Press, 2014, pp. 89-125.
  • [45]  Easterlin, R. “Happiness, growth, and public policy. Economic Inquiry,” vol. 51, no. 1, pp. 1-15, 2013.
  • [46]  Economist Intelligence Unit. Long-term macroeconomic forecasts: Key trends to 2050. 2015. Available: http://www.eiu.com/public/topical_report.aspx?campaignid=ForecastingTo2050
  • [47]  Eichengreen, B. “Secular stagnation: The long view,” American Economic Review, vol. 105, no. 5, pp. 66-70, 2015.
  • [48]  Feenstra, R., R. Inklaar, and M. Timmer, “The next generation of the Penn World Table,” American Economic Review, vol. 105, no. 10, pp. 3150-3182, 2015.
  • [49]  Field, A. Discovering statistics using SPSS (3rd Ed.). Sage Publications, 2009.
  • [50]  Field, F. “U.S. economic growth in the gilded age,” Journal of Macroeconomics, vol. 31, pp. 173-190, 2007.
  • [51]  Frey, B., and A. Stutzer, “Happiness, economy and institutions,” Economic Journal, vol. 110, no. 466, pp. 918-938, 2000.
  • [52]  Frey, B., and A. Stutzer, “What can economists learn from happiness research?,” Journal of Economic Literature, vol. 40, no. 2, pp. 402-435, 2002.
  • [53]  Fry, R. Millennials surpass Gen Xers as the largest generation in U.S. labor force. 2015. Available: http://www.pewresearch.org/fact-tank/2015/05/11/millennials-surpass-gen-xers-as-the-largest-generation-in-u-slabor-force/
  • [54]  Gallup. Economic Confidence Index. 2016a. Available: http://www.gallup.com/poll/183095/economic-confidenceindex-rebounds.aspx utm_source=Economy&utm_medium=newsfeed&utm_campaign=tiles
  • [55]  Gallup. How does the Wells Fargo/Gallup Investor and Retirement Optimism Index work? 2016b. Available: http://www.gallup.com/177557/wells-fargo-gallup-investor-retirement-optimism-index-methodology.aspx.
  • [56]  Gallup-Healthways. Gallup-Healthways well-being index. 2015. Available: http://www.well-beingindex.com/
  • [57]  Galson, W., and E. Kamarck, Overcoming corporate short-termism: Blackrock's chairman weighs in. 2015. Available: http://www.brookings.edu/blogs/fixgov/posts/2015/04/17-fink-buybacks-corporate-short-termismgalston-kamarck?utm_campaign=Brookings+Brief&utm_source=hs_email&utm_medium=email&utm_content =17171270&_hsenc=p2ANqtz- 9USAzw43h6K8hlL_7Ll48HPXsW_lI8NGK2AIYs8k5LrIzdpnfqsxbX7OnNbtdekC- 4WT0YqPuuejvQeurSvRZYjZGDMeA&_hsmi=17171270
  • [58]  Geletkanycz, M., “The salience of cultural consequences: The effects of cultural values on top executive commitment to the status quo,” Strategic Management Journal, vol. 18, no. 8, pp. 615-634, 1997.
  • [59]  Gordon, R., Is the U.S. economic growth over? Faltering innovation confronts the six headwinds. NBER working paper 18315. 2012. Available: http://faculty web.at.northwestern.edu/economics/gordon/is%20us%20economic%20growth%20over.pdf
  • [60]  Gordon, R., “Secular stagnation: A supply-side view,” American Economic Review, vol. 105, no. 5, pp. 54-59, 2015.
  • [61]  Gordon, R., “Perspectives on the rise and fall of American growth,” American Economic Review, vol. 106, no. 5, pp. 72-76, 2016.
  • [62]  Goodhart, C., and P. Erfurth, Demography and economics: Look past the past. 2014. Available: http://www.voxeu.org/article/demography-and-economics-look-past-past
  • [63]  Goodridge, P., J. Haskel, and G. Wallis, “Can intangible investment explain the UK productivity puzzle?,” National Institute economic review, vol. 226, no. 1, pp. 42-49, 2013.
  • [64]  Graetz, G., and G. Michaels, Robots at work. Center for Economic Performance at the London School of Economics and Political Science. 2015. Available: http://cep.lse.ac.uk/pubs/download/dp1335.pdf
  • [65]  Graham, C., “Insights on development from the economics of happiness,” World Bank Research Observer, vol.20, no. 2, pp. 201-231, 2005.
  • [66]  Griffiths, W., C. Hill, and G. Judge, Learning and practicing econometrics. John Wiley & Sons, Inc., 1993.
  • [67]  Griliches, Z., “Productivity puzzles and R&D: Another nonexplanation,” The Journal of Economic Perspectives(1986-1998), vol. 2, no. 4, pp. 9-21, 1988.
  • [68]  Guiso, L., P. Sapienza, and L. Zingales, “Corporate culture, societal culture, and institutions,” American Economic Review, vol. 105, no. 5, pp. 336-339, 2015.
  • [69]  Haines, J., and N. Sharif, “A framework for managing the sophistication of the components of technology for global competition,” Competitiveness Review, vol. 16, no. 2, pp. 106-121, 2006.
  • [70]  Hall, R., and C. Jones, “Why do some countries produce so much more output per worker than others?,”Quarterly Journal of Economics, vol. 114, no. 1, pp. 83-116, 1999.
  • [71]  Hansen, A. “Economic progress and declining population growth.,” American Economic Review, vol. 29, no. 1, pp. 1-15, 1939.
  • [72]  Harrod, R., “An essay in dynamic theory,” The Economic Journal, vol. 49, no. 193, pp. 14-33, 1939.
  • [73]  Helliwell, J., R. Layard, and J. Sachs, World happiness report. 2012. Available: http://www.earth.columbia.edu/sitefiles/file/Sachs%20Writing/2012/World%20Happiness%20Report.pdf
  • [74]  Helliwell, J., and R. Putnam, “The social context of well–being,” The Philosophical Transactions of the Royal Society, vol. 359, pp. 1435-1446, 2004.
  • [75]  Hofstede, G., “Culture and organizations,” International Studies of Management and Organization, vol. 10, no. 4, pp. 15-41, 1981.
  • [76]  Hofstede G., “The cultural relativity of the quality of life concept,” Academy of Management Review, vol. 9, no.3, pp. 389-398, 1984.
  • [77]  Hofstede, G., “The business of international business is culture,” International Business Review, vol. 3, no.1, pp.1-14, 1994.
  • [78]  Hofstede, G., “Attitudes, values and organizational culture: Disentangling the concepts,” Organization Studies, vol. 19, no. 3, pp. 477-493, 1998a.
  • [79]  Hofstede, G., “Think locally, act globally: Cultural constraints in personnel management,” Management International Review, vol. 38, no. 2, pp. 7-26, 1998b.
  • [80]  Hofstede, G., Culture’s consequences. Sage Publications, 2001.
  • [81]  Hofstede, G., “Business goals for a new world order: beyond growth, greed and quarterly results,” Asia Pacific Business Review, vol. 15, no. 4, pp. 481-488, 2009.
  • [82]  Hofstede, G., and M. Bond, “The Confucius connection: From cultural roots to economic growth,”Organizational Dynamics, vol. 16, no. 4, pp. 5-21, 1988.
  • [83]  Hofstede, G., and G. Hofstede, Dimension data matrix. n.d. Available: http://www.geerthofstede.nl/dimension-data-matrix
  • [84]  Hofstede, G., and M. Minkov, “Long- versus short-term orientation: New perspectives” Asia Pacific Business Review, vol. 16, no. 4, pp. 493-504, 2010.
  • [85]  Holtz-Eakin, D., “Solow and the states: Capital accumulation, productivity, and economic growth,” National Tax Journal, vol. 46, no. 4, pp. 425-439, 1993.
  • [86]  Inklaar, R., M. Timmer, and B. Van Ark, “Data for productivity measurement in market services: An international comparison,” International Productivity Monitor, vol. 16, pp. 71-81, 2007.
  • [87]  International Monetary Fund. World economic outlook database, October 2005 edition. 2015. Available: http://www.imf.org/external/pubs/ft/weo/2015/02/weodata/index.aspx
  • [88]  Judge, T., and J. Kammeyer-Mueller, “Happiness as a societal value,” Academy of Management Perspectives, vol. 25, no. 1, pp. 30-41, 2011.
  • [89]  Kahneman, D., and A. Krueger, “Developments in the measurement of subjective well-being,” The Journal of Economic Perspectives, vol. 20, no. 1, pp. 3-24, 2006.
  • [90]  Katona, G., “Psychology and consumer economics,” Journal of Consumer Research, vol. 1, no. 1, pp. 1-8, 1974.
  • [91]  Kogel, T., “Youth dependency and total factor productivity,” Journal of Development Economics, vol. 76, no. 1, pp. 147-173, 2005.
  • [92]  Krugman, P., The age of diminished expectations. The MIT Press, 1997.
  • [93]  Lagarde, C., Lift growth today, tomorrow, together. 2015. Available: http://www.imf.org/external/np/speeches/2015/040915.htm
  • [94]  Lenartowicz, T., and K. Roth, “A framework for culture assessment,” Journal of International Business Studies, vol. 30, no. 4, pp. 781-798, 1999.
  • [95]  Lyubomirsky, S., and H. Lepper, “A measure of subjective happiness: Preliminary reliability and construct validation” Social Indicators Research, vol. 46, no. 2, pp. 137-155, 1999.
  • [96]  MacKerron, G., “Happiness economics from 35 000 feet,” Journal of Economic Surveys, vol. 26, no. 4, pp. 705-735, 2012.
  • [97]  Maddison, A., The world economy: A millennial perspective. OECD, 2001.
  • [98]  Mankiw, G., D. Romer, D., and D. Weil, “A contribution to the empirics of economic growth,” Quarterly Journal of Economics, vol. 107, no. 2, pp. 407-437, 1992.
  • [99]  Manyika, J., J. Woetzel, and J. Remes, “A productivity perspective on the future of growth,” McKinsey Quarterly, vol. 3, pp. 136-146, 2014.
  • [100]  Maslow, A., “A theory of human motivation,” Psychological Review, vol. 50, no. 4, pp. 370-396, 1943.
  • [101]  Merriam-Webster's collegiate dictionary (11th ed.). Globalization. Merriam-Webster, 2012a.
  • [102]  Merriam-Webster's collegiate dictionary (11th ed.). Economy. Merriam-Webster, 2012b.
  • [103]  National Archives. U.S. Declaration of Independence. n.d. Available: http://www.archives.gov/exhibits/charters/declaration_transcript.html
  • [104]  National Association of Home Builders. Builder confidence hits highest level since November 2005, 2016. Available: http://www.nahb.org/news_details.aspx?newsID=16899
  • [105]  National Bureau of Economic Research. Business cycle dating committee. 2010. Available: http://www.nber.org/cycles/sept2010.html
  • [106]  National Federation of Independent Business. NFIB Small Business Optimism Index. 2016. Available: http://www.nfib.com/surveys/small-business-economic-trends/
  • [107]  Nobel Prize. Prizes and laureates in economic sciences. 2016. Available: http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/
  • [108]  Nolan, P., “Solving the productivity puzzle,” Public Finance, vol. 6, pp. 34-37, 2014.
  • [109]  Nyce, S. “The aging workforce: Is demography destiny?,” Generations, vol. 31, no. 1, pp. 9-15, 2007.
  • [110]  O'Clock, P. and K. Devine, “The role of strategy and culture in the performance evaluation of international strategic business units,” Management Accounting Quarterly, vol. 4, no. 2, pp. 18-26, 2003.
  • [111]  Ohlin, B. (1957). Interregional and international trade. Cambridge, MA: Harvard University Press.
  • [112]  Oishi, S., M. Koo, and S. Akimoto, “Culture, interpersonal perceptions, and happiness in social interactions. Personality and Social Psychology Bulletin, vol. 34, no. 3, pp. 307-320, 2008.
  • [113]  Oishi, S. and U. Schimmack, “Culture and well-being: A new inquiry into the psychological wealth of nations,” Perspectives on Psychological Science, vol. 5, no. 4, pp. 463-471, 2010.
  • [114]  Organization for Economic Co-operation and Development. OECD Compendium of Productivity Indicators 2013. OECD Publishing, 2013.
  • [115]  Organization for Economic Co-operation and Development. Productivity statistics. 2015. Available: http://www.oecd.org/std/productivity-stats/
  • [116]  Organization for Economic Co-operation and Development. Policymakers: Act now to keep promises! 2016a. Available: http://www.oecd.org/eco/outlook/OECD-Economic-Outlook-June-2016-handout.pdf
  • [117]  Organization for Economic Co-operation and Development. OECD. Stat. 2016b. Available: http://stats.oecd.org/Index.aspx?DataSetCode%3DANHRS
  • [118]  Organization for Economic Co-operation and Development. Glossary. 2016c. Available: http://stats.oecd.org/glossary/index.htm
  • [119]  Oswald, A., “Happiness and economic performance,” Economic Journal, vol. 107, no. 445, pp. 1815-1831, 1997.
  • [120]  Oswald, A., “Emotional prosperity and the Stiglitz Commission,” British Journal of Industrial Relations, vol. 48, no. 4, pp. 651-669, 2010.
  • [121]  Oswald, A., E. Proto, and D. Sgroi, Happiness and productivity. IZA Discussion Paper No. 4645, Germany, Available: http://papers.ssrn.com/sol3/papers.cfm abstract_id=1526075
  • [122]  Ovaska, T., and R. Takashima, “Does a rising tide lift all the boats? Explaining the national inequality of happiness,” Journal of Economic Issues, vol. 44, no. 1, pp. 205-223, 2010.
  • [123]  PNC Financial. Economic outlook survey: Survey of small and middle-market business owners. 2016. Available: https://www.pnc.com/en/about-pnc/media/press-kits/economic-outlook-survey.html
  • [124]  Porter, M., “The competitive advantage of nations,” Harvard Business Review, vol. 68, no. 2, pp. 73-93, 1990.
  • [125]  Porter, M., S. Stern, and M. Green, Social progress index: Executive summary. 2014. Available: http://www.socialprogressimperative.org/system/resources/W1siZiIsIjIwMTQvMDQvMTUvMTQvMjQvNTcvMjJAEF Copyright ? 2017 Isaac Scientific PublishingQ3L1NvY2lhbF9Qcm9ncmVzc19JbmRleF8yMDE0X0V4ZWN1dGl2ZV9TdW1tYXJ5LnBkZiJdXQ/Social%20Progress%20Index%202014%20Executive%20Summary.pdf
  • [126]  Powdthavee, N., “How much does money really matter? Estimating the causal effects of income on happiness,”Empirical Economics, vol. 39, no. 1, pp. 77-92, 2010.
  • [127]  Pressey, A., and H. Selassie, “Are cultural differences overrated? Examining the influence of national culture on international buyer-seller relationships,” Journal of Consumer Behaviour, vol. 2, no. 4, p. 354, 2003.
  • [128]  Ricardo, D., On the principles of political economy and taxation. ElecBook. 1891. Available: https://books.google.com/books?hl=en&lr=&id=_Qg AAAAYAAJ&oi=fnd&pg=PA5&dq=Ricardo,+D.+%282001%29[1821].+On+the+principles+of+political+economy+and+taxation.+ElecBook&ots=osmyaOsYkD&sig=QTjM03QJXfoE7Z55zSAnsSzYiEM#v=onepage&q&f=false (Original work published 1817)
  • [129]  Ross, C., and A. Murray, “Aggregate measures of income and output in Canada and the United States: Implications for productivity and living standards,” International Productivity Monitor, vol. 19, pp. 20-39, 2010.
  • [130]  Sargent, J., “The UK productivity puzzle - or is it?,” Economic Affairs, vol. 33, no. 2, pp. 257-262, 2013.
  • [131]  Siegel, J., “Is productivity plunging?,” Kiplinger’s Personal Finance. Available: http://www.kiplinger.com/article/business/T019-C019-S002-is-productivity-plunging.html
  • [132]  Sly, N., “International productivity differences, trade and the distributions of factor endowments,” Review of International Economics, vol. 20, no. 4, pp. 740-757, 2012.
  • [133]  Smith, A., “An inquiry into the nature and causes of the wealth of nations. ElecBook. 2001. Available: http://site.ebrary.com.library.capella.edu/lib/capella/detail.action?docID=2001574# (Original work published 1776)
  • [134]  Smith, J., “International productivity comparisons: An examination of data sources. International Productivity Monitor, vol. 6, no. 6, pp. 64-71, 2003.
  • [135]  Solow, R., “A contribution to the theory of economic growth,” Quarterly Journal of Economics, vol. 70, no. 1, pp. 65-94, 1956.
  • [136]  Solow, R., “Technical change and the aggregate production function,” The Review of Economics and Statistics, vol. 39, no. 3, pp. 312-320, 1957.
  • [137]  Sondergaard, M., “Research Note: Hofstede's Consequences: A study of reviews, citations and replications,”Organization Studies (Walter De Gruyter Gmbh & Co. KG.), vol. 15, no. 3, pp. 447-456, 1994.
  • [138]  Stiglitz, J., A. Sen, and J.P. Fitoussi, Report by the Commission on the Measurement of Economic Performance and Social Progress. 2009. Available: http://www.stiglitzsen-fitoussi.fr/documents/rapport_anglais.pdf
  • [139]  Swanson, R. A., and E. F. Holton, Research in organizations: Foundations and methods of inquiry. BerrettKoehler, 2005 (Eds.).
  • [140]  Syverson, C., “What determines productivity?,” Journal of Economic Literature, vol. 49, no. 2, pp. 326-365, 2011.
  • [141]  Triandis, H., “The many dimensions of culture,” Academy of Management Executive, vol. 18, no. 1, pp. 88-93, 2004.
  • [142]  Triplett, J., “The Solow productivity paradox: What do computers do to productivity?,” Canadian Journal of Economics, vol. 32, no. 2, pp. 309-334, 1999.
  • [143]  United Nations. World population prospects. 2015. Available: https://esa.un.org/unpd/wpp/
  • [144]  United Nations. The United Nations Statistics Division: The System of National Accounts 2008. 2016a. Available: http://unstats.un.org/unsd/nationalaccount/sna2008.asp
  • [145]  United Nations. International Day of Happiness. 2016b. Available: http://www.un.org/en/events/happinessday/
  • [146]  United Nations. The International Telecommunication Union: Statistics. 2016c. Available: http://www.itu.int/en/ITU-D/Statistics/Pages/stat/default.aspx
  • [147]  University of Michigan. Surveys of consumers. 2016. Available: http://www.sca.isr.umich.edu/
  • [148]  van Ark, B., “International productivity” in Ashish K. Vaidya (eds.), Globalization: Encyclopedia of trade, labor, and politics. 2005. Available: http://library.capella.edu/login?url=http://search.credoreference.com.library. capella.edu/content/entry/abcgetlp/international_productivity/0
  • [149]  van Ark. B., and R. McGuckin, “International comparisons of labor productivity and per capita income,” Monthly Labor Review, vol. 122, no. 7, pp. 33-41, 1999.
  • [150]  Van Boven, L., and T. Gilovich, “To do or to have? That is the question,” Journal of Personality and Social Psychology, vol. 85, no. 6, pp. 1193-1202, 2003.
  • [151]  Veenhoven, R., Conditions of happiness. D. Reidel Publishing Company, 1984.
  • [152]  Veenhoven, R., “Return of inequality in modern society? Test by dispersion of life-satisfaction across time and nations,” Journal of Happiness Studies, vol. 6, no. 4, pp. 457-487, 2005.
  • [153]  Veenhoven, R., “Greater happiness for a greater number: Is that possible or desirable?,” Journal of Happiness Studies, vol. 11, no. 5, pp. 605-629, 2010.
  • [154]  Vogt, P., Quantitative research methods for professionals. Allyn & Bacon, 2007.
  • [155]  Wallis, C., Science of happiness: New research on mood. Time. 2005. Available: http://content.time.com/time/printout/0,8816,1015902,00.html
  • [156]  Weimann, J., A. Knabe, and R. Schob, Measuring happiness: The economics of well-being. The MIT Press, 2015.
  • [157]  Weller, C., and J. Odum, Economic snapshot: June 2015. 2015. Available: https://cdn.americanprogress.org/wp-content/uploads/2015/06/EconSnap_June15.pdf
  • [158]  Wolf, M., Why globalization works. Yale University Press, 2004.
  • [159]  World Trade Organization. International trade statistics 2014. 2015. Available https://www.wto.org/english/res_e/statis_e/its2014_e/its14_toc_e.htm
  • [160]  World Values Survey. Online data analysis. n.d. Available: http://www.worldvaluessurvey.org/WVSOnline.jsp
  • [161]  Yucel, R., H. Elibol, and O. Dagdelen, “Globalization and international marketing ethics problems,” International Research Journal of Finance & Economics, no. 26, pp. 93-104, 2009.
Copyright © 2017 Isaac Scientific Publishing Co. All rights reserved.