An Exploratory Data Analysis of OECD How’s Life Indicators | Nikita Strelkovskii

Abstract: Multi-dimensional well-being has recently gained traction as a holistic framework to assess the progress of nations towards increasing the quality of life of their citizens. While numerous countries have begun integrating well-being into their policy frameworks, a gap persists in understanding interconnections among various well-being dimensions as well as in patterns of the well-being in different contexts. Recognizing these patterns is pivotal for harnessing synergies and navigating potential trade-offs, ensuring well-being for all. To address this knowledge gap, our study delves into the National Well-being System (NWS) using the OECD Well-being Framework and OECD How’s Life indicators. We analyze a subset of the OECD indicators for multiple countries, based on the data availability and our aim to balance the economic, social, natural, and human capital dimensions. Starting from a detailed correlation analysis, we further employ time series clustering and panel data analysis. Our findings reveal two distinct country clusters each exhibiting different patterns of well-being. Major socio-economic events, such as the Great Recession and the COVID-19 pandemic, alter the composition of these clusters reflecting their deteriorating impact on well-being. Our insights underscore the value of comprehensive NW data and a systems thinking approach in developing informed and impactful well-being policies.

This event is an in-person extension of our Measuring Progress seminar series. Further details of the workshop are available on the website: https://statistiques.public.lu/en/sta...

Details of the seminar series are available on the website: https://statistiques.public.lu/en/sta...