Scholarlink

<p>Using data from 18 countries in the WVS-EVS database from 2011 to 2022, this paper explores the impact of currency internationalization on residents’ happiness. Our findings indicate that currency internationalization generally enhances residents’ happiness, but its marginal positive effect diminishes at higher levels, consistent with an inverted “U-shaped” relationship. Specifically, currency internationalization improves individual well-being in both trade surplus and trade deficit countries, as well as in countries whose currencies are included in the SDR basket, reflecting their greater international influence. In contrast, for countries with underdeveloped financial systems or currencies not included in the SDR basket, higher levels of currency internationalization may generate financial volatility and liquidity risks, leading to a significantly negative impact on residents’ happiness. Furthermore, during periods of heightened uncertainty, such as the COVID-19 pandemic, the effect of currency internationalization on well-being is not statistically significant, suggesting that external shocks may dampen its benefits. These results imply that policymakers should strategically harness the positive effects of currency internationalization on residents’ welfare while implementing safeguards to mitigate potential adverse consequences, particularly in financially underdeveloped countries or under conditions of greater uncertainty.</p>

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

Could a more internationalized currency bring residents more happiness?

  • 期刊论文

  • 发表日期：

    2026年5月22日

查看全文
  • Xiao Yu,
  • Ming Su,
  • Jingxian Li

摘要

Using data from 18 countries in the WVS-EVS database from 2011 to 2022, this paper explores the impact of currency internationalization on residents’ happiness. Our findings indicate that currency internationalization generally enhances residents’ happiness, but its marginal positive effect diminishes at higher levels, consistent with an inverted “U-shaped” relationship. Specifically, currency internationalization improves individual well-being in both trade surplus and trade deficit countries, as well as in countries whose currencies are included in the SDR basket, reflecting their greater international influence. In contrast, for countries with underdeveloped financial systems or currencies not included in the SDR basket, higher levels of currency internationalization may generate financial volatility and liquidity risks, leading to a significantly negative impact on residents’ happiness. Furthermore, during periods of heightened uncertainty, such as the COVID-19 pandemic, the effect of currency internationalization on well-being is not statistically significant, suggesting that external shocks may dampen its benefits. These results imply that policymakers should strategically harness the positive effects of currency internationalization on residents’ welfare while implementing safeguards to mitigate potential adverse consequences, particularly in financially underdeveloped countries or under conditions of greater uncertainty.