Gallup World Poll 2013, June
Afghanistan, Angola, Albania...and 183 more, 2005 - 2012
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Reference ID
WLD_2013_GWP-JUN_v01_M
Producer(s)
Gallup, Inc.
Metadata
Created on
Dec 05, 2019
Last modified
Jun 14, 2022
Page views
47527
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- Data files
- The_Gallup_062813
INDEX_FW Financial Wellbeing Index (INDEX_FW)
Data file: The_Gallup_062813
Overview
Valid:
901116
Invalid:
198167
Minimum:
0
Maximum:
100
Type:
Discrete
Decimal:
0
Start:
153
End:
155
Width:
3
Range:
1 - 1
Format:
Numeric
Questions and instructions
Categories
| Value | Category | Cases | |
|---|---|---|---|
| 0 | 227158 |
25.2%
|
|
| 1 | 1 Index Score | 0 |
0%
|
| 16.6666666666667 | 197235 |
21.9%
|
|
| 25 | 18059 |
2%
|
|
| 33.3333333333333 | 148377 |
16.5%
|
|
| 50 | 149425 |
16.6%
|
|
| 66.6666666666667 | 39296 |
4.4%
|
|
| 75 | 5589 |
0.6%
|
|
| 83.3333333333333 | 45245 |
5%
|
|
| 100 | 70732 |
7.8%
|
|
| Sysmiss | 198167 |
Warning: these figures indicate the number of cases found in the data file. They cannot be interpreted as summary statistics of the population of interest.
Description
Definition
The Financial Wellbeing Index measures respondents' personal economic situations and the economics of the community where they live. The subjective measures of financial wellbeing that make up the index are an important complement to traditional macroeconomic indicators such as GDP and unemployment rates, particularly in cases in which these data are difficult to obtain or the quality is suspect.
Even in developed regions where traditional economic indicators are highly reliable, survey data represent complementary measures that can compensate for existing "blind spots." GDP, for instance, is an important measure of rising or falling economic activity in the monetized sector, but an imprecise indicator of how such changes translate to living conditions for the bulk of the country's population. Survey data on satisfaction with living standards, on the other hand, help complete the picture with a bottom-up perspective that accounts for individual-level judgments of welfare. Furthermore, expressions of sentiment often serve as leading indicators of economic conditions. Perhaps the greatest promise of these data is their potential to predict economic progress.
External relationships with World Bank measures are strongest with other economic measures such as wealth distribution and economically active children (children aged 7 to 14 who have jobs).
Also enlightening are the relationships that the index shares with other Gallup Worldwide Research indexes. National Institutions, Community Basics, Physical Wellbeing, Civic Engagement, Youth Development, Corruption, and Optimism are all strongly related to the Financial Wellbeing Index, illustrating the importance of subjective economic circumstances in almost all other facets of everyday life.
INDEX QUESTIONS
- Which one of these phrases comes closest to your own feelings about your household's income these days: living comfortably on present income, getting by on present income, finding it difficult on present income, or finding it very difficult on present income? (WP2319)
- Are you satisfied or dissatisfied with your standard of living, all the things you can buy and do? (WP30)
- Right now, do you feel your standard of living is getting better or getting worse? (WP31)
- Right now, do you think that economic conditions in the city or area where you live, as a whole, are getting better or getting worse? (WP88)
INDEX CONSTRUCTION
Index scores are calculated at the individual record level. For each individual record, the following procedure applies: For WP2319, respondents who say they are "living comfortably on present income" are recoded as "1," and all other answers are recoded as "0." The remaining four items are recoded so that positive answers are scored as a "1" and all other answers (including don't know and refused) are assigned a score of "0." If a record has no answer for an item, then that item is not eligible for inclusion in the calculations. An individual record has an index calculated if it has valid scores for WP2319 and valid scores from at least three of the other four index questions. A record's final index score is the average of the mean for responses to WP2319 and the mean of the three other items multiplied by 100. The final country-level index score is the mean of all individual records for which an index score was calculated. Country-level weights are applied to this calculation.
RELIABILITY
The Financial Wellbeing Index has a Cronbach's alpha of .86 when aggregated at the country level.
Even in developed regions where traditional economic indicators are highly reliable, survey data represent complementary measures that can compensate for existing "blind spots." GDP, for instance, is an important measure of rising or falling economic activity in the monetized sector, but an imprecise indicator of how such changes translate to living conditions for the bulk of the country's population. Survey data on satisfaction with living standards, on the other hand, help complete the picture with a bottom-up perspective that accounts for individual-level judgments of welfare. Furthermore, expressions of sentiment often serve as leading indicators of economic conditions. Perhaps the greatest promise of these data is their potential to predict economic progress.
External relationships with World Bank measures are strongest with other economic measures such as wealth distribution and economically active children (children aged 7 to 14 who have jobs).
Also enlightening are the relationships that the index shares with other Gallup Worldwide Research indexes. National Institutions, Community Basics, Physical Wellbeing, Civic Engagement, Youth Development, Corruption, and Optimism are all strongly related to the Financial Wellbeing Index, illustrating the importance of subjective economic circumstances in almost all other facets of everyday life.
INDEX QUESTIONS
- Which one of these phrases comes closest to your own feelings about your household's income these days: living comfortably on present income, getting by on present income, finding it difficult on present income, or finding it very difficult on present income? (WP2319)
- Are you satisfied or dissatisfied with your standard of living, all the things you can buy and do? (WP30)
- Right now, do you feel your standard of living is getting better or getting worse? (WP31)
- Right now, do you think that economic conditions in the city or area where you live, as a whole, are getting better or getting worse? (WP88)
INDEX CONSTRUCTION
Index scores are calculated at the individual record level. For each individual record, the following procedure applies: For WP2319, respondents who say they are "living comfortably on present income" are recoded as "1," and all other answers are recoded as "0." The remaining four items are recoded so that positive answers are scored as a "1" and all other answers (including don't know and refused) are assigned a score of "0." If a record has no answer for an item, then that item is not eligible for inclusion in the calculations. An individual record has an index calculated if it has valid scores for WP2319 and valid scores from at least three of the other four index questions. A record's final index score is the average of the mean for responses to WP2319 and the mean of the three other items multiplied by 100. The final country-level index score is the mean of all individual records for which an index score was calculated. Country-level weights are applied to this calculation.
RELIABILITY
The Financial Wellbeing Index has a Cronbach's alpha of .86 when aggregated at the country level.