The impact of national and international financial crises on mental health and well-being: a systematic review

MARK FORSHAW, Deborah Talamonti, Jekaterina Schneider, Benjamin Gibson

Research output: Contribution to journalReview articlepeer-review

1 Citation (Scopus)
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Background: Evidence suggests that financial crises and poor mental health are reciprocally related, but
no systematic review has been conducted to synthesise the existing literature on the impact of national
and international financial crises on population-level mental health and well-being.
Aims: The aim of this study was to systematically review the available literature on the global impact
of financial crises on mental health and well-being outcomes.
Methods: After registration on PROSPERO, a systematic search was conducted in PsycINFO, MEDLINE,
Wiley, and Web of Science for papers published until 21 November 2022. Following the Preferred
Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) statement, 98 papers were identified
as meeting eligibility criteria. Included studies were assessed using the Mixed Methods Appraisal Tool
(MMAT) and results were presented in a formal narrative synthesis.
Results: Our findings show that financial crises are significantly associated with well-being and
occurrence of psychological conditions. Several socio-demographic, cultural, and country-specific
characteristics played a crucial role in the prevention of population mental health decline in periods of
financial crises.
Conclusions: Based on the findings of this review, evidence-based recommendations were developed
to guide the design of policy actions that protect population mental health during and after financial
Original languageEnglish
Pages (from-to)1-38
Number of pages38
JournalJournal of Mental Health
Early online date7 Nov 2023
Publication statusPublished - 7 Nov 2023


  • Economic crisis
  • emotional health
  • financial crisis
  • mental health
  • well-being


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