Revisiting the Nexus Between Suicides and Economic Indicators: An Empirical Investigation

Abstract

In India, as of 2021, there was a 7.2% increase in suicides. With the economic burden inflicted by the pandemic and increasing suicides, a systematic investigation needs to be done. This empirical investigation uses the “Autoregressive Distributed Lag (ARDL) model” to obtain long and short-term estimates for the relationship between suicides and prominent economic indicators. The findings suggest that economic indicators like GDP per capita growth, age dependency ratio, and unemployment rate have a significant dynamic relationship with suicides. In this regard, preventive measures can be formulated and implemented in such a way that focuses on improving the country’s economic scenario which will in turn reduce suicides. Organizations and governments can plan training and mental health care programs for farmers, workers, and students. Mental health care services require attention from the government so that at a macro level the problem of increasing suicides can be handled.