Financial scarcity undermines health across the globe and the life course.

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License: CC BY 4.0
Serval ID
serval:BIB_C5C68B02293E
Type
Article: article from journal or magazin.
Collection
Publications
Institution
Title
Financial scarcity undermines health across the globe and the life course.
Journal
Social science & medicine
Author(s)
Sommet N., Spini D.
ISSN
1873-5347 (Electronic)
ISSN-L
0277-9536
Publication state
Published
Issued date
01/2022
Peer-reviewed
Oui
Volume
292
Pages
114607
Language
english
Notes
Publication types: Journal Article ; Research Support, Non-U.S. Gov't
Publication Status: ppublish
Abstract
The gradient between income and health is well established: the lower the income, the poorer the health. However, low income (having few economic resources) may not be enough to characterize economic vulnerability, and financial scarcity (perceiving having insufficient economic resources) may further reduce health. First, analysis of cross-national data (275,000+ participants from 200+ country-years) revealed that financial scarcity was associated with twice the odds of suffering from reduced self-rated health and feelings of unhappiness; this association was observed in ≈90% of the country-years and explained variance over and above income. Second, analysis of national longitudinal data (20,000+ participants over 20 years of assessment) revealed that facing financial scarcity in the course of one's life decreased self-rated and objective health and increased feelings of depression; again, these effects explained variance over and above income. Two subsidiary findings were obtained: (i) three adverse life events (illness, separation, family conflicts) predicted financial scarcity over the life course, and (ii) self-mastery (a component of sense of control) accounted for the detrimental longitudinal effects of financial scarcity on health. This research suggests that to understand socioeconomic inequality in health, one should consider not only an individual's quantity of monetary resources but also the perceived sufficiency of these resources.
Keywords
Humans, Income, Life Change Events, Socioeconomic Factors, Financial scarcity, Health, Life events, Sense of control, Well-being
Pubmed
Open Access
Yes
Funding(s)
Swiss National Science Foundation
Create date
20/12/2021 14:11
Last modification date
09/04/2022 6:33
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