Does psychological well-being mediate economic well-being? short-term evidence from a multifaceted program in the Philippines. Issue 3 (3rd July 2021)

• Record Type: Journal Article
• Authors: Bloem, Jeffrey R.; Gandhe, Rashmita
• Is Part Of: Journal of development effectiveness. Volume 13:Issue 3(2021)
• Page Start: 292
• Page End: 308
• Publication Date: 2021-07-03
• Subjects: Psychological well-being -- poverty alleviation -- mediation -- programme evaluation; Economic development -- Periodicals; Developing countries -- Economic conditions -- Periodicals; Economic development; Economic history; Developing countries; Periodicals; 338.91724
• DOI: 10.1080/19439342.2021.1924834
• Languages: English
• ISSNs: 1943-9342

Abstract

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.