IDEAS home Printed from https://ideas.repec.org/a/hpe/journl/y2024v249i2p9-34.html
   My bibliography  Save this article

The Impact of Financial Constraints on Quality of Life and Mental Health in the Elderly: Evidence from Spain

Author

Listed:
  • Sabela Siaba,

    (University of A Coruña)

  • Bruno Casal

    (University of A Coruña)

  • Berta Rivera

    (University of A Coruña)

Abstract

This study analyzes the association between financial difficulties and quality of life and depression in Spain. We apply extended probit models in order to control for potential endogeneity, in a sample of 1,759 people over 65 years of age. The results show that facing financial difficulties is significantly related to a lower quality of life and a higher probability of depression, particularly for women. Negative expectations about future finances are inversely and significantly related to the individual’s quality of life. These findings suggest that financial advisory and public intervention programs focused on the elderly with financial constraints are necessary to mitigate this negative impact.

Suggested Citation

  • Sabela Siaba, & Bruno Casal & Berta Rivera, 2024. "The Impact of Financial Constraints on Quality of Life and Mental Health in the Elderly: Evidence from Spain," Hacienda Pública Española / Review of Public Economics, IEF, vol. 249(2), pages 9-34, June.
    • Handle: RePEc:hpe:journl:y:2024:v:249:i:2:p:9-34
    as

    Download full text from publisher

    File URL: https://hpe-rpe.org/wp-admin/admin-ajax.php?juwpfisadmin=false&action=wpfd&task=file.download&wpfd_category_id=241&wpfd_file_id=5449&token=5f2a735b76ec981f99612054bfc043a4&preview=1
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Larissa L. Wieczorek & Sarah Humberg & Denis Gerstorf & Jenny Wagner, 2021. "Understanding Loneliness in Adolescence: A Test of Competing Hypotheses on the Interplay of Extraversion and Neuroticism," IJERPH, MDPI, vol. 18(23), pages 1-26, November.
    2. Rabia Khalaila, 2016. "Depression statuses and related predictors in later life: A 10-year follow-up study in Israel," European Journal of Ageing, Springer, vol. 13(4), pages 311-321, December.
    3. Yao-Yuan Yeh & Charles K. S. Wu & Wei-hao Huang, 2021. "China’s soft power and US public opinion," Economic and Political Studies, Taylor & Francis Journals, vol. 9(4), pages 447-460, October.
    4. Greg Duncan & Bessie Wilkerson & Paula England, 2006. "Cleaning up their act: The effects of marriage and cohabitation on licit and illicit drug use," Demography, Springer;Population Association of America (PAA), vol. 43(4), pages 691-710, November.
    5. Arup Bose & Debashis Pal & David E. M. Sappington, 2021. "The political economy of voluntary public service," Public Choice, Springer, vol. 186(1), pages 29-61, January.
    6. Lee, Miaw-Chwen & Huang, Nicole, 2015. "Changes in self-perceived economic satisfaction and mortality at old ages: Evidence from a survey of middle-aged and elderly adults in Taiwan," Social Science & Medicine, Elsevier, vol. 130(C), pages 1-8.
    7. Susanna Sandström & Timothy Smeeding, 2005. "Poverty and Income Maintenance in Old Age: A Cross-National View of Low Income Older Women," LIS Working papers 398, LIS Cross-National Data Center in Luxembourg.
    8. Francisca G.-C. Richter & Claudia Coulton & Robert L. Fischer & Nina Lalich, 2021. "Public Assistance and Homeless Shelter Trajectories," The ANNALS of the American Academy of Political and Social Science, , vol. 693(1), pages 123-140, January.
    9. Manzoli, Lamberto & Villari, Paolo & M Pirone, Giovanni & Boccia, Antonio, 2007. "Marital status and mortality in the elderly: A systematic review and meta-analysis," Social Science & Medicine, Elsevier, vol. 64(1), pages 77-94, January.
    10. Walters, K. & Breeze, E. & Wilkinson, P. & Price, G.M. & Bulpitt, C.J. & Fletcher, A., 2004. "Local area deprivation and urban-rural differences in anxiety and depression among people older than 75 years in Britain," American Journal of Public Health, American Public Health Association, vol. 94(10), pages 1768-1774.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fatimah, Alfariany & Britteon, Philip & Turner, Alex J & Anselmi, Laura & Gillibrand, Stephanie & Wilson, Paul & Sutton, Matt & Lau, Yiu-Shing, 2023. "Evaluating whole system reforms: A structured approach for selecting multiple outcomes," Health Policy, Elsevier, vol. 138(C).
    2. Fisher, Hayley, 2012. "Just a piece of paper? The effect of marriage on health," Working Papers 2012-17, University of Sydney, School of Economics.
    3. Robert G. Wood & Brian Goesling & Sarah Avellar, "undated". "The Effects of Marriage on Health: A Synthesis of Recent Research Evidence," Mathematica Policy Research Reports d69bf47785bc4154a4e184aa5, Mathematica Policy Research.
    4. Robert G. Wood & Brian Goesling & Sarah Avellar, "undated". "The Effects of Marriage on Health: A Synthesis of Recent Research Evidence (Issue Brief)," Mathematica Policy Research Reports 2685fc6f3f9a4fbd9e672e524, Mathematica Policy Research.
    5. Requena, Miguel & Reher, David, 2021. "Partnership and mortality in mid and late life: Protection or selection?," Social Science & Medicine, Elsevier, vol. 279(C).
    6. Twigg, Liz & Moon, Graham, 2013. "The spatial and temporal development of binge drinking in England 2001–2009: An observational study," Social Science & Medicine, Elsevier, vol. 91(C), pages 162-167.
    7. Jon Anson, 2010. "Beyond Material Explanations: Family Solidarity and Mortality, a Small Area‐level Analysis," Population and Development Review, The Population Council, Inc., vol. 36(1), pages 27-45, March.
    8. Kasey Buckles & Melanie Guldi & Joseph Price, 2011. "Changing the Price of Marriage: Evidence from Blood Test Requirements," Journal of Human Resources, University of Wisconsin Press, vol. 46(3), pages 539-567.
    9. Kai Hong & Peter A. Savelyev & Kegon T. K. Tan, 2020. "Understanding the Mechanisms Linking College Education with Longevity," Journal of Human Capital, University of Chicago Press, vol. 14(3), pages 371-400.
    10. Sai-fu Fung & Esther Oi-wah Chow & Chau-kiu Cheung, 2020. "Development and Evaluation of the Psychometric Properties of a Brief Wisdom Development Scale," IJERPH, MDPI, vol. 17(8), pages 1-14, April.
    11. Missinne, Sarah & Colman, Elien & Bracke, Piet, 2013. "Spousal influence on mammography screening: A life course perspective," Social Science & Medicine, Elsevier, vol. 98(C), pages 63-70.
    12. María Elena Martínez & Jonathan T Unkart & Li Tao & Candyce H Kroenke & Richard Schwab & Ian Komenaka & Scarlett Lin Gomez, 2017. "Prognostic significance of marital status in breast cancer survival: A population-based study," PLOS ONE, Public Library of Science, vol. 12(5), pages 1-14, May.
    13. Haan, Peter & Hammerschmid, Anna & Schmieder, Julia, 2019. "Mortality in midlife for subgroups in Germany," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 14.
    14. Averett, Susan L. & Sikora, Asia & Argys, Laura M., 2008. "For better or worse: Relationship status and body mass index," Economics & Human Biology, Elsevier, vol. 6(3), pages 330-349, December.
    15. Mikael Nygård & Camilla Härtull & Annika Wentjärvi & Susanne Jungerstam, 2017. "Poverty and Old Age in Scandinavia: A Problem of Gendered Injustice? Evidence from the 2010 GERDA Survey in Finland and Sweden," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 132(2), pages 681-698, June.
    16. Inés Berniell & Dolores de la Mata & Matilde Pinto Machado, 2020. "The Impact of a Permanent Income Shock on the Situation of Women in the Household: The Case of a Pension Reform in Argentina," Economic Development and Cultural Change, University of Chicago Press, vol. 68(4), pages 1295-1343.
    17. Jiangping Li & Lijun Dong & Danian Tian & Yu Zhao & Huifang Yang & Xiaoyu Zhi & Lingqin Zhu, 2018. "Association between pesticide exposure intensity and self-rated health among greenhouse vegetable farmers in Ningxia, China," PLOS ONE, Public Library of Science, vol. 13(12), pages 1-12, December.
    18. Fei Yan & Guangye He & Yunsong Chen, 2018. "The Health Consequences of Social Mobility in Contemporary China," IJERPH, MDPI, vol. 15(12), pages 1-15, November.
    19. Kevin Milligan, 2008. "The Evolution of Elderly Poverty in Canada," Canadian Public Policy, University of Toronto Press, vol. 34(s1), pages 79-94, November.
    20. Pilar Zueras & Roberta Rutigliano & Sergi Trias-Llimós, 0. "Marital status, living arrangements, and mortality in middle and older age in Europe," International Journal of Public Health, Springer;Swiss School of Public Health (SSPH+), vol. 0, pages 1-10.

    More about this item

    Keywords

    Quality of Life; Mental Health; Financial Constraints; Ageing Population.;
    All these keywords.

    JEL classification:

    • I0 - Health, Education, and Welfare - - General
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hpe:journl:y:2024:v:249:i:2:p:9-34. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Miguel Gómez de Antonio (email available below). General contact details of provider: https://edirc.repec.org/data/iefgves.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.