Beyond Economic Gains: Asset Transfer Programs and Psychological Well‐Being of Ultra‐Poor Women in Bangladesh

ABSTRACT This study explores how asset transfer programs influence the psychological well‐being (PWB) of ultra‐poor women in rural Bangladesh. Using an adapted version of Ryff's PWB model, culturally tailored to this population, the study analyses data from 1800 households. Results show significant gains in self‐acceptance, autonomy and environmental mastery among program participants. These improvements are closely tied to enhanced economic well‐being such as increased income and asset ownership. The findings highlight the broader benefits of asset transfer programs beyond economic gains on mental well‐being and offer a novel, context‐specific tool for assessing the psychological health of women in low‐income settings.