Examining Global Financial Strain Parameters on Mental Health A Systematic Review and Meta-Analysis. A Systematic Review and Meta-analysis of the Effect of Global Financial Strain Parameters on Mental Health

Abstract

This thesis examined the world connection between financial stress and mental health outcomes among adult groups by conducting a systematic meta-analysis. The search of the Scopus database provided 2,286 records and 98 of them passed the PECOS eligibility criteria, with 74 providing quantitative effect sizes in the meta-analytic aspect. Using a random-effects model, pooled odds ratios were calculated for four primary outcomes: depression (OR = 2.14, 95% CI: 1.87–2.45), anxiety (OR = 1.88, 95% CI: 1.63–2.17), psychological distress (OR = 2.02, 95% CI: 1.74–2.34), and suicidal ideation (OR = 2.31, 95% CI: 1.79–2.98). The heterogeneity was high in all domains (I 2 = 66.2%78.3%), which was, to some extent, documented by subgroup analyses performed to determine country income level, COVID-19 pandemic context, and subjective/objective measurement of financial strain as significant moderators. The effect sizes were always higher in low- and middle-income countries and in the times of the pandemic. The study is grounded using the Stress Process Theory (SPT), Conservation of Resources Theory (CRT), and the Social Determinants of Health Framework (SDHF). The results verify that financial strain is a strong, extensive, and adjustable predictor of mental ill-health. It was hypothesized that the research would lead to the inclusion of financial strain screening into the mental health risk assessment tool and that structural economic policies would be acknowledged as leading mental health interventions.