Is philanthropy related to life satisfaction? Cross-country evidence

Abstract

The goal of this study is to investigate the relationship between philanthropy and life satisfaction, using data from 142 countries. The results show that philanthropy rates are significantly and positively associated with subjective wellbeing. A one standard deviation increase in philanthropy rates is associated with slightly less than half-standard deviation rises in life satisfaction. This association remains significant even after the introduction of a rich set of socio-economic controls.