ArticlePsychiatry investigation2023
Financial Hardship, Depression, and Self-Esteem: Temporal Analysis Using a Korean Panel Study.
Article in Psychiatry investigation, 2023. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 5 papers.
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Who cites it
5 citing papers in PubMed, 15 citations in OpenAlex.
- Psychological distress and its associated factors among cancer patients in Nepal: A cross-sectional study.PLOS mental health · 2026Article
- Latent profiles of emotional perceptions of ageing and health promotion lifestyle in older adults with diabetes: the mediating role of frailty.Journal of diabetes and metabolic disorders · 2025Article
- Experience of financial hardship and depression: a longitudinal population-based multi-state analysis.Epidemiology and psychiatric sciences · 2025Article
- Racial/ethnic Variations in the Association Between Financial Strain and Well-Being: Evidence from the United Kingdom Household Longitudinal Survey.Applied research in quality of life · 2025Article
- Health-related quality of life, work ability and disability among individuals with persistent post-dural puncture headache.The journal of headache and pain · 2024Article
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Authors and funding
4 authors at 2 institutions in 1 country.
Funding
Abstract
objectiveFinancial hardship influences depression risk, however, the pathway of the effect of financial hardship on depression and the role of self-esteem remain unclear. This study examined whether changes in financial hardship affected depression, and whether self-esteem mediated by this relationship.
methodsData from 99,588 observations of 15,331 individuals were extracted from 10 waves of the Korean Welfare Panel Study. The association between changes in financial hardship and depression was investigated using a generalized estimation equation, and the extent to which these associations were mediated by self-esteem was assessed.
resultsThe results indicated that changes in financial hardship were associated with depression, with varying magnitude. Experiencing severe financial hardship over two consecutive years (odds ratio [OR]: 3.87, 95% confidence interval [CI]=3.09-4.85) or increased financial hardship over the previous year strongly influenced depression (e.g., OR: 3.88, 95% CI=3.09-4.86 for low financial hardship at t-1 year and high at t year). Self-esteem plays a mediating role in the relationship between changes in financial hardship and depression, where persistent financial hardship is associated with low self-esteem, leading to depression.
conclusionThese findings highlighted the importance of monitoring and intervention for financial hardship and psychological problems to help manage depression.
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