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What effect did the Global Financial Crisis have upon youth wellbeing? Evidence from four Australian cohorts

Jerrim, JP; Parker, PD; Anders, J; (2016) What effect did the Global Financial Crisis have upon youth wellbeing? Evidence from four Australian cohorts. Developmental Psychology , 52 (4) pp. 640-651. 10.1037/dev0000092. Green open access

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Abstract

Recent research has suggested significant negative effects of the Global Financial Crisis (GFC) on mental health and wellbeing. In this paper we suggest that the developmental period of late adolescence may be at particular risk of economic downturns. Harmonizing four longitudinal cohorts of Australian youth (N = 38, 017), we estimate the impact of the GFC on one general and 11 domain specific measures of wellbeing at age 19 and 22. Significant differences in wellbeing in most life domains were found, suggesting that wellbeing is susceptible to economic shocks. Given that the GFC in Australia was relatively mild, the finding of clear negative effects across two ages is of international concern.

Type: Article
Title: What effect did the Global Financial Crisis have upon youth wellbeing? Evidence from four Australian cohorts
Open access status: An open access version is available from UCL Discovery
DOI: 10.1037/dev0000092
Publisher version: http://dx.doi.org/10.1037/dev0000092
Language: English
Additional information: © The Authors. This article has been published under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/3.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. Copyright for this article is retained by the author(s). Author(s) grant(s) the American Psychological Association the exclusive right to publish the article and identify itself as the original publisher.
UCL classification: UCL
UCL > Provost and Vice Provost Offices > School of Education
UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education
UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education > IOE - Learning and Leadership
UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education > IOE - Learning and Leadership > Centre for Education Policy and Equalising Opportunities
UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education > IOE - Social Research Institute
URI: https://discovery.ucl.ac.uk/id/eprint/1472904
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