engleski

Measuring Interrelations of Prosperity Pillars Leading Towards Sustainable Success

This paper primary goal is set to measure the interrelations between different Legatum Prosperity Index (LPI) pillars in the global frame. Enterprise Conditions pillar is set as a dependent variable, a measure of sustainable success. The paper observes the relationship towards all other pillars of LPI namely: Social Capital, Safety & Security, Personal Freedoms, Governance, Investment Environment, Market Access and Infrastructure, Economic Quality, Living Conditions, Health, Education and Natural Environment. Pillars themselves are categorised into three main domains: Inclusive Societies, Open Economies and Empowered People aiming to ensure a holistic approach to the topic investigated. The panel sample included 167 world countries analysis for a period between 2007 and 2020. The overall number of observations is 2338 and the analysis included two methods: bivariate correlation and hierarchical multiple linear regression (through three models). The results gained show that Investment Environment, Market Access and Infrastructure strong and positively affect Enterprise Conditions. Health, Natural Environment, Governance and Social Capital pillars also show positive, but slightly weaker relation, while Education and Living Conditions as well as Safety and Security show negative relation towards entrepreneurship. Statistically significant but weak negative link between Personal Freedom towards Enterprise Conditions is also shown.

Prosperity index ; Enterprise conditions ; Social capital ; Sustainability ; Wellbeing

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