Relationship between economic stress factors and stress, anxiety, and depression: Moderating role of social support

Abstract

The economic crisis had a detrimental impact on the economies of several European countries, namely in Portugal. The literature emphasizes that periods of economic turmoil potentiate the appearance of mental health issues, such as stress, anxiety, and depression, and decrease populations’ well-being. The present study, conducted in Portugal, was performed with a sample of 729 individuals, 33.9% males and 66.1% females, with an average age of 36.99 years old. Its’ aim was to assess the relationship between economic stress factors (economic hardship, financial threat, and financial well-being) and stress, anxiety, and depression, as well as to test the moderating effect of social support on this relationship. Structural equation modeling (SEM) was used to examine the relationships defined. When comparing the results obtained in the models without and with social support as a moderator, statistically significant differences were observed on the relationships between financial threat and depression and between economic hardship and stress, anxiety, and depression. Regarding the association between financial threat and stress and anxiety, the effect of the economic stressor decreased in the presence of social support, but the differences were not statistically significant. The implications of these results are discussed and strategies to foster social support are proposed.