Abstract
South Korea has the highest suicide rate in the world, while Bangladesh, China, Hong Kong, Japan, Sri Lanka and Taiwan also report relatively high suicide rates. The reasons behind the higher suicide rates in these countries remain a complex issue. Conversely, Muslim countries such as Iran, Pakistan, Saudi Arabia and Turkey had relatively lower suicide rates in the world. This study aims to identify the key reasons behind the high suicide rates. Therefore, analysis revealed that there are gender impacts and economic factors that cause suicide trends mainly in South Korea, Japan, Sri Lanka and Asia. Using quantitative methodology and secondary data, the study first performed a comparative analysis of suicide rates in three selected countries, identifying trends and underlying reasons. Next, the study performed an econometric analysis using time series panel data from 2000 to 2019, focusing on a sample of 12 Asian countries. This analysis utilized pooled ordinary least-squares estimation, panel fixed effects and random effects estimation, accompanied by the Hausman test. Key findings indicate that there is an increasing trend in the suicide rate in South Korea, while there are decreasing trends in Japan and Sri Lanka. Remarkably, the study observed that the female suicide rate is higher than the male suicide rate in South Korea, while in Japan and Sri Lanka, it is the opposite. Moreover, the empirical results show that unemployment, inflation and remittances are significant economic factors influencing the suicide rate in Asia. Specifically, remittances have a significantly negative impact on suicide rates, whereas unemployment and inflation have a significantly positive effect.
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