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Self-employment, financial development and well-being: evidence from China, Russia and Ukraine

Pham, T., Talavera, O. and Zhang, M. (2018) Self-employment, financial development and well-being: evidence from China, Russia and Ukraine. Journal of Comparative Economics, 46 (3). pp. 754-769. ISSN 0147-5967

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To link to this item DOI: 10.1016/j.jce.2018.07.006


This study investigates the association between financial development and entrepreneurs’ well-being in China, Ukraine, and Russia. We find that Chinese and Russian entrepreneurs have a higher level of well-being, while Ukrainian self-employed individuals have more dissatisfaction. The link between financial development and the utility of entrepreneurs varies as well. The utility differences between the self-employed and paid workers in Russia reduce with financial development and the effect is stronger for job satisfaction. However, financial development barely correlates with Ukrainian entrepreneurs’ happiness while having no correlation with life satisfaction of Chinese self-employed. Further investigation suggests that the financial development – entrepreneurial utility association works through both monetary and non-monetary channels.

Item Type:Article
Divisions:Arts, Humanities and Social Science > School of Politics, Economics and International Relations > Economics
ID Code:78943


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