Does psychological well-being mediate economic well-being? short-term evidence from a multifaceted program in the Philippines

Jeffrey Bloem and Rashmita Gandhe

Journal of Development Effectiveness, 2021, vol. 13, issue 3, 292-308

Abstract: Can changes in psychological well-being lead to changes in economic well-being? Across many settings, the view that inexpensive psychological interventions can lead to meaningful change in economic well-being has become popular. Examining data from participants of a multifaceted program in the Philippines we find that program participants experience (i) positive changes in income and expenditures, (ii) relatively large changes in measures of psychological well-being, but that (iii) these changes in psychological well-being do not mediate changes in economic well-being. This suggests, at least in the short-term, that changes in psychological attributes may have small effects on measures of economic well-being.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:taf:jdevef:v:13:y:2021:i:3:p:292-308

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DOI: 10.1080/19439342.2021.1924834

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