Measuring the effect of economic indicators of low and middle-income countries on suicide rates by using panel data analysis method

ABSTRACTSuicide is the ending of one’s own life for economic, psychological, and social reasons. Suicide cases worldwide occur mostly in low- and middle-income countries. The aim of this study is to examine the effect of economic indicators of low and middle-income countries on suicide rates by panel data analysis method. The dependent variable is the (crude) suicide rate. The independent variables are gross domestic product, per capita income, general unemployment rate, poverty level, and Gini index value. In the study, two different econometric models were developed. In Model 1, it was predicted that a 1% increase in the poverty level of countries in the middle-income group could lead to an increase of 0.66% in the suicide rate. In Model-2, it was estimated that a 1% increase in the per capita income of low-income countries would cause a 0.52% decrease in the suicide rate. It was predicted that a possible increase of 1% in the Gini index value would cause an increase of 0.24% and 0.32% in the suicide rates of middle- and low-income countries, respectively. Although there are various factors affecting the suicide rate in society, there are often economic reasons at the root of the problem. The consequences of the unequal distribution of income in a poorer society can be more devastating. Although the results of the study are important in terms of revealing the effect of economic indicators on suicide rates more research is needed in this area.KEYWORDS: Economic indicatorsincome levelsuicide ratepanel data analysis AcknowledgmentsThe authors would like to extend their sincere thanks to anyone who contributed to this study.Disclosure statementNo potential conflict of interest was reported by the author(s).Author contributionsPlan, design: SK, OS, MK; Material, methods, and data collection: SK, OS; Data analysis and comments: OS; Writing and corrections: SK, MK.Additional informationFundingThis research has not supported any institution.