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What effect did the global financial crisis have upon youth wellbeing? Evidence from four Australian cohorts.

Philip D Parker; John Jerrim; Jake Anders

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Title: What effect did the global financial crisis have upon youth wellbeing? Evidence from four Australian cohorts.
Author: Philip D Parker; John Jerrim; Jake Anders
Source: Developmental Psychology · DOI 10.1037/dev0000092 Published 2016-02-08 · Open source record
License: CC BY 3.0 deed

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Abstract Recent research has suggested significant negative effects of the Global Financial Crisis (GFC) on mental health and wellbeing. In this article, the authors suggest that the developmental period of late adolescence may be at particular risk of economic downturns. Harmonizing 4 longitudinal cohorts of Australian youth (N = 38,017), we estimate the impact of the GFC on 1 general and 11 domain specific measures of wellbeing at age 19 and 22. Significant differences in wellbeing in most life domains were found, suggesting that wellbeing is susceptible to economic shocks. Given that the GFC in Australia was relatively mild, the finding of clear negative effects across 2 ages is of international concern. Keywords: wellbeing, Global Financial Crisis, adolescence

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Original journal: Developmental Psychology
Published: 2016-02-08
DOI: 10.1037/dev0000092
Open record: PMC4819495

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