The Link between Food Security and Life Satisfaction: Panel Data Analysis
Аннотация
The goal of this study is to explore the causal relationship between food (in)security and life satisfaction in a global setting. We explore this relationship using conventional ordinary least squares (OLS) regression and instrumental variable two-stage least squares (IV 2SLS) method. Using data from 105 countries over the period 2012–2019, we found that food insecurity is significantly and negatively related to life satisfaction. The results are robust even after controlling for GDP growth, government size, quality of political and legal institutions. In addition, by adopting natural disaster data, we show that food insecurity has causal negative effect on life satisfaction. In particular, a one standard deviation increase in instrumented food insecurity decreases life satisfaction by 0.8 points (slightly less than one standard deviation). The results remain robust for a series of tests. Future studies should extend our findings by exploring the role of food security in other measures of quality of life.