A correlation study examining the relationship between happiness and selected macroeconomic variables of SAARC countries

Interest in the basic happiness or well-being of a person, group of people or nation has grown over the last few decades. In the recent past, it has been observed that the measurement of progress of any nation has gone beyond the conventional economic measures like gross domestic product (GDP) and gross national income (GNI). The present study attempts to gauge the relationship between happiness and economic variables – GDP, GNI and Gross Capital Formation. It is based on secondary data retrieved from the database of the World Bank and World Happiness Report, 2016. The SAARC countries have been included for the purpose of this study.