This paper investigates the role of social capital (SC) in subjective quality of life using a large-scale survey of 100,956 respondents across 37 countries. Results suggest a stronger association between higher SC and better subjective health/satisfaction in low-income countries. Low-income countries showed lower perceived economic inequality with higher SC, unlike high-income countries. Higher education increased perceived inequality, but this impact decreased with SC. Enhancing SC may improve quality of life in low-income countries, with lifestyle/cultural factors also playing a significant role. The findings highlight the importance of non-economic factors in well-being, suggesting a need for further research on social aspects of life.

Janaki Imbulana Arachchi, Shunsuke Managi