Abstract
In this study, an empirical analysis was conducted using SEM(Structural Equation Modeling) to analyze the influencing factors that affect the causal relationship between the quality of life and economic growth. As an independent variables for economic development, the World Governance Index, the Sustainable Development Goals Index, Trade and Foreign Direct Investment ware chosen to characterize the factors such as political, social and environmental, and economic factors, respectively. According to the result of the study, economic growth has a statistically positive effect on the Human Development Index, which is an objective criterion for quality of life, and does not directly affect subjective quality of life, but it is significant in analysis through the Human Development Index. In addition, the World Governance Index and the Sustainable Development Goals Index were found to have direct and indirect effects on both economic growth and subjective and objective quality of life.
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