Quality of life: A way to buttress crisis program evaluations?

To test the applicability of the quality of life concept (QoL) in evaluations of financial assistance programs to sovereigns, we apply the OECD well-being framework to the programs in a euro area country, and find that the multidimensional framework promises policy-relevant findings, capable of informing other approaches for evaluating program relevance and effectiveness. The framework's headline indicators nevertheless, needed to be complemented with additional indicators owing to data challenges. The well-being dimensions demonstrate that our primary country case and other assisted euro area countries struggled to protect some vulnerable groups before and during the crisis years, although many QoL indicators depict improvement once program completion approached. In many cases, gender, age and education level related differences were apparent, and should be better considered in future crisis programs. The framework also facilitates considering governance elements with our enhancements. It offers good grounds for deepening the understanding of stakeholders' perception of reform benefits or shortcomings, thus of program ownership. By using the OECD framework we explore some interpretative limits of QoL in evaluation, and underscore that a full program evaluation would require careful integration in primary case data. Further research and data set improvements would enhance this approach's utility.