The Debt Crisis, Austerity Measures, and Suicide in Greece

Abstract

Background: How are economic downturns and suicide related?

Objective: This study examines the link between economically driven austerity measures implemented during a recent economic downturn—the Greek debt crisis—and suicide for the population as a whole, as well as for men and women separately.

Methods: Utilizing a 50-nation panel containing annual suicide counts and population demographics for the years 1995–2015 from the World Health Organization's Mortality archive, the analysis employs a synthetic control design, a quasi-experimental approach that allows us to causally model the relationship between Greece's International Monetary Fund-imposed austerity measures and suicide, something that has hampered prior research efforts.

Results: Findings show austerity policies corresponded with increased suicide rates in Greece for the population as a whole and for men and women. Robustness tests confirm these results.

Conclusions: We discuss the implications of the findings for the current economic crisis associated with the COVID-19 pandemic.

Note: Funding Information: None. Declaration of Interests: None.

Keywords: suicide, Greece, economic recessions, economic downturns, synthetic control group methods