International Journal of Business, Management and Economics
Vol. 3 No. 3 (2022): International Journal of Business, Management and Economics

The Homo-Hetero Pairing Effect Correlation Coefficient : A Modified Correlation Technique for Social Science Studies

Bundala, Ntogwa Ng’habi (Unknown)



Article Info

Publish Date
11 Jul 2022

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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Journal Info

Abbrev

ijbmer

Publisher

Subject

Economics, Econometrics & Finance Social Sciences

Description

International Journal of Business, Management & Economics Research (IJBMER) is a peer-reviewed journal which publishes original research papers. IJBMER has been published since 2020. It is currently published quarterly (February, May, August and November). e-ISSN: 2746-1351. The Digital Object ...