When a Balanced Life Leads to a Better Life: Reflections on Innovation, Health, and Wealth

Abstract

Work-life balance and its link to positive outcomes have been limited to the micro-level analysis. This study focuses on it from a macro perspective. Our dataset is a balanced panel composed of 48 countries with 143 observations, combining developing and developed countries and spanning from 2016 to 2018. Only for health variable, data for 2018 is not published yet, and hence, analysis for health includes only 96 observations. Work-life balance is approximated by average work hours per capita data obtained from the International Labour Organization. Happiness is obtained from the World Poll Survey. Finally, wealth and health conditions, approximated by income per capita and life expectancy at birth, respectively, are retrieved from the World Bank. Innovation level is approximated by the Global Innovation Index which is estimated by the World Intellectual Property Organization. Work-life balance was found to be a predictor of health, wealth, and innovation as mediated by happiness. © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021.

Keywords Happiness, Health, Innovation, Wealth, Work-life balance