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

• Sabela Siaba ^[1] ; Bruno Casal ^[1] ; Berta Rivera ^[1]
  1. [1] Universidade da Coruña

     Universidade da Coruña

     A Coruña, España

     
• Localización: Hacienda Pública Española / Review of Public Economics, ISSN 0210-1173, Nº 249, 2024 (Ejemplar dedicado a: Health economics), págs. 9-34
• Idioma: inglés
• Enlaces
  • Texto completo
• Resumen
  • español

    Este estudio analiza la asociación entre las dificultades económicas y la calidad de vida y depresión en España. Aplicamos modelos probit extendidos para controlar la posible endogeneidad, en una muestra de 1.759 personas mayores de 65 años. Los resultados muestran que experimentar dificultades económicas está significativamente relacionado con una menor calidad de vida y una mayor probabilidad de depresión, especialmente en mujeres. Las expectativas negativas sobre finanzas futuras están inversa y significativamente relacionadas con la calidad de vida del individuo. Estos resultados sugieren que son necesarios programas de asesoramiento financiero y de intervención en salud pública centrados en las personas mayores con dificultades financieras para mitigar este impacto negativo.

  • English

    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.

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