Is Financial Capability a Determinant of Health? Theory and Evidence

被引:10
|
作者
Sun, Sicong [1 ]
Chen, Yu-Chih [2 ]
机构
[1] Univ Kansas, Sch Social Welf, 1545 Lilac Lane, Lawrence, KS 66045 USA
[2] Univ Hong Kong, Dept Social Work & Social Adm, Hong Kong, Peoples R China
关键词
social determinants of health; financial capability; socioeconomic position; socioeconomic status; financial access; financial literacy; FUNDAMENTAL CAUSE; RACISM; WOMEN; DISPARITIES; LITERACY; ISSUES; WORK;
D O I
10.1007/s10834-022-09869-6
中图分类号
F [经济];
学科分类号
02 ;
摘要
Financial capability, the combination of financial literacy (ability to act) and financial access (opportunity to act), improves people's access to resources, and thus has the potential to improve health and well-being. This paper positions financial capability under the framework of social determinants of health and discusses theory and presents empirical evidence on the link between financial capability and health. Using data from the RAND American Life Panel and the structural equation modeling approach, we distinguish financial capability from the common socioeconomic position indicators such as income and education. We find that financial capability has a positive and longitudinal effect on health, independent of race/ethnicity, gender, income, education, and employment. This study demonstrates that financial capability is an independent social determinant of health. It can be theoretically and conceptually defined, empirically measured, and can inform clinical interventions that may improve population health and well-being. Implications for future research, practice, and policy are discussed.
引用
收藏
页码:744 / 755
页数:12
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