Economic freedom and suicide rates: A cross-national analysis of 123 countries between 2000-2021

The present study investigates how economic freedom affects suicide rates across gender and developmental context. Using the Mundlak hybrid fixed- and random-effects models with a sample of 123 countries from 2000 to 2021, findings show that economic freedom measured by the Fraser Institute has heterogeneous within-country and between-country effects on suicide rates, which vary considerably across developmental contexts. The most notable result regards market-oriented legal protections. These have negative within-effects on suicide rates in OECD countries, while positive within- and between-effects on suicide rates in non-OECD countries. Other aspects of economic freedom index partially show statistical significance. Overall gender differences are not pronounced, though the size of government exhibits nuanced gender-specific effects. The present study highlights that it is important to consider various aspects of free-market institutions and policies in combination with developmental contexts and gender.