Piotr Białowolski1,2,3, Dorota Węziak-Białowolska4, Tyler J VanderWeele5. 1. Faculty of Arts and Sciences, The Institute for Quantitative Social Science, Harvard University, 1737 Cambridge St, Cambridge, MA, 02138, USA. pbialowolski@hsph.harvard.edu. 2. Department of Environmental Health, Sustainability and Health Initiative (SHINE), Harvard T. H. Chan School of Public Health, 665 Huntington Avenue, Boston, 02115, MA, United States. pbialowolski@hsph.harvard.edu. 3. Department of Management, WSB University, ul. Cieplaka 1C, Dąbrowa Górnicza, Poland. pbialowolski@hsph.harvard.edu. 4. Department of Environmental Health, Sustainability and Health Initiative (SHINE), Harvard T. H. Chan School of Public Health, 665 Huntington Avenue, Boston, 02115, MA, United States. 5. Department of Epidemiology, Harvard T. H. Chan School of Public Health, 677 Huntington Ave, Kresge Bldg, Boston, MA, 02115, USA.
Abstract
OBJECTIVES: This study evaluated decisions related to debt and savings on physical health, emotional health and health behaviours. METHODS: The longitudinal data from the Polish biennial household panel-Social Diagnosis Survey-were used. Evidence for a link between credit/savings and health/health behaviours was presented using three waves of the data and an outcome-wide regression analysis. To circumvent endogeneity, variables temporally prior to exposure were used as controls. Sensitivity analysis for unmeasured confounding, conducted using E-values, provided a check for robustness. RESULTS: Debt proved a significant stressor, affecting three of five physical health measures. Over-indebted individuals suffered even more in terms of physical health outcomes. The role of savings in physical health was much less significant, yet had significant bearing on measures of emotional health. In terms of emotional health, debt (over-indebtedness in particular) influenced loneliness and increased suicidal thoughts. With respect to health behaviours, savings appeared significant in reducing smoking and increasing uptake of sport activities, while debt had no significant effect in these areas. CONCLUSIONS: Recommendations are formulated to foster saving activity and develop institutional solutions for over-indebtedness.
OBJECTIVES: This study evaluated decisions related to debt and savings on physical health, emotional health and health behaviours. METHODS: The longitudinal data from the Polish biennial household panel-Social Diagnosis Survey-were used. Evidence for a link between credit/savings and health/health behaviours was presented using three waves of the data and an outcome-wide regression analysis. To circumvent endogeneity, variables temporally prior to exposure were used as controls. Sensitivity analysis for unmeasured confounding, conducted using E-values, provided a check for robustness. RESULTS: Debt proved a significant stressor, affecting three of five physical health measures. Over-indebted individuals suffered even more in terms of physical health outcomes. The role of savings in physical health was much less significant, yet had significant bearing on measures of emotional health. In terms of emotional health, debt (over-indebtedness in particular) influenced loneliness and increased suicidal thoughts. With respect to health behaviours, savings appeared significant in reducing smoking and increasing uptake of sport activities, while debt had no significant effect in these areas. CONCLUSIONS: Recommendations are formulated to foster saving activity and develop institutional solutions for over-indebtedness.
Keywords:
Credit; Health; Health behaviour; Longitudinal study; Outcome-wide regression; Savings
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