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Impact of financial crisis on mental health: A literature review ‘puzzling’ findings from several countries

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  • Panagiotis Volkos
  • Emmanouil K Symvoulakis

Abstract

Background: During the Great Recession of 2008 many of the European and other western economies had been affected with the unemployment rising and income shrinking. Daily lives of a country’s citizens always are affected by an economic downturn in various ways and mental health problems are expected to be worsen. Aim: The aim of this systematic review is to identify to what extent the economic crisis of the last decade has influenced mental health issues in daily life, by offering an in-depth analysis of such effect. Methods: PRISMA guidelines were followed and PubMed platform was used for the literature research. There were included articles that were published between 2009 and 2019. The search terms used were economic crisis and mental health. An extraction sheet was created to collect the results. Results: Thirty-five studies from several countries were included in this review. The results from this articles point out that specific social groups are more vulnerable during periods of economic crisis in terms of mental health impact. Depression, anxiety and stress are some of the most common outcomes. However, not all the evidence sources agree. Conclusions: Despite the disagreements, the economic downturn and its outcomes can effect negatively the psychological state either of the population as a whole or of specific subgroups. Mental health is largely affected by economy and regulatory adjustments of supportive care services are needed to buffer negative effects. Primary care could be a ‘remote access server’ of specific interventions designed to target vulnerable population groups. The development of strategies at a country level is essential in order to support the most vulnerable groups of the population during a recession period.

Suggested Citation

  • Panagiotis Volkos & Emmanouil K Symvoulakis, 2021. "Impact of financial crisis on mental health: A literature review ‘puzzling’ findings from several countries," International Journal of Social Psychiatry, , vol. 67(7), pages 907-919, November.
    • Handle: RePEc:sae:socpsy:v:67:y:2021:i:7:p:907-919
    DOI: 10.1177/00207640211011205
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    References listed on IDEAS

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