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New African Economies Study Findings Have Been Reported by Investigators at World Bank (Subjective Wealth and Satisfaction with Policy Reform:...

September 12, 2014



New African Economies Study Findings Have Been Reported by Investigators at World Bank (Subjective Wealth and Satisfaction with Policy Reform: Evidence from the Cotton Reform Experience in Burkina Faso)

By a News Reporter-Staff News Editor at Economics Week -- A new study on African Economies is now available. According to news reporting out of Washington, District of Columbia, by VerticalNews editors, the research stated, "This paper examines the relationship between individual changes in objective and subjective welfare in the context of rural development. Taking the case of the cotton reform in Burkina Faso, I study the determinants of the joint distribution of changes in subjective welfare and subjective appreciation of the welfare effects of a policy reform at the household level."

Our news journalists obtained a quote from the research from World Bank, "A reference-based utility function with personality effects is introduced to explain large increases in experienced subjective welfare with no corresponding increases in consumption and income. Using subjective and objective welfare variables from data collected in cotton areas before and after the cotton reform, several empirical specifications are estimated to explore reference and personality effects at play, while addressing measurement issues related to subjective indicators, i.e. heterogeneity in latent psychological factors."

According to the news editors, the research concluded: "In addition to absolute and relative welfare changes, both the large increase in subjective wealth and the ubiquitous satisfaction with the cotton reform are found to be heterogeneously driven by personality and information effects across income and ethnic groups, which underlies significant but heterogeneous appropriation of the welfare effects and policy content of the cotton reform."

For more information on this research see: Subjective Wealth and Satisfaction with Policy Reform: Evidence from the Cotton Reform Experience in Burkina Faso. Journal of African Economies, 2014;23(4):528-581. Journal of African Economies can be contacted at: Oxford Univ Press, Great Clarendon St, Oxford OX2 6DP, England. (Oxford University Press - www.oup.com/; Journal of African Economies - jae.oxfordjournals.org)

Our news journalists report that additional information may be obtained by contacting J. Kaminski, World Bank, Africa Reg Chief Economist Off, Washington, DC 20433, United States.

Keywords for this news article include: Washington, District of Columbia, United States, North and Central America, African Economies

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Source: Economics Week


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