Subjective well-being on different continents

Abstract

This thesis examines whether institutional trust moderates the relationship between economic hardship and subjective well-being (SWB) in Thailand, a country marked by economic inequality, political volatility, and high reported life satisfaction. Drawing on data from the Asian Barometer Survey (Wave 4, 2014–2016), the study constructs composite indices for SWB, economic hardship, and institutional trust, and employs linear regression models to test moderation effects. While economic hardship is found to have a significant negative effect on SWB, institutional trust does not show a direct or statistically significant moderating effect. Visualizations and conditional effect estimates suggest a potential buffering role of trust at higher levels, but these trends are not robust. These findings challenge assumptions derived from Western and Latin American contexts, highlighting the need for more culturally and politically sensitive models of well-being. The study contributes to a growing literature on subjective well-being by exploring how institutional and cultural factors shape resilience under economic strain in underrepresented regions.