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All Journal International Journal of Business, Management and Economics
Bundala, Ntogwa Ng’habi
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Economics, Econometrics & Finance Social Sciences

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The Homo-Hetero Pairing Effect Correlation Coefficient : A Modified Correlation Technique for Social Science Studies Bundala, Ntogwa Ng’habi
International Journal of Business, Management and Economics Vol. 3 No. 3 (2022): International Journal of Business, Management and Economics
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijbme.v3i3.706

Abstract

The study aimed to examine the pairing relationship between economic growth and psychological human behavior (psychological well-being) of the individuals by application of the homo-hetero pairing effect correlation coefficient technique. The cross-sectional data were used. The data were collected from 211 individuals randomly sampled from two regions in Tanzania. The data were analysed by homo-hetero pairing effect correlation coefficient and the results were compared to that of the Pearson correlation coefficient and simple regression model. The study found that economic growth and psychological well-being are positively changing in pairs, and the psychological well-being of the individual is the true enabler (optimal independent) of the linear modelling. The study concluded that the improvement of the psychological well-being of individuals significantly improves economic growth and not vice versa. Therefore, the paper recommended that psychological well-being-based initiatives should be established and encouraged in society as found to have a positive impact on economic growth. Moreover, the study specifically, recommends the application of the homo-hetero pairing correlation coefficient in studies of cardiology, neurology, epidemiology, psychology, economics, anthropology, sociology and other fields of the social sciences.
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