Self-control, financial literacy and consumer over-indebtedness
Self-control, financial literacy and consumer over-indebtedness
复制标题
DOI：
10.1016/j.joep.2011.11.006
复制
发表时间：
2012-06-01
影响因子：
3.5
通讯作者：
Gathergood, John
中科院分区：
文献类型：
--
作者：
Gathergood, John
本文研究了英国消费者的自我控制，金融知识和过度负债之间的关系。缺乏自我控制和金融文盲与不支付消费信贷和自我报告的过度债务财务负担呈正相关。表现出自我控制问题的消费者更多地使用快速获得但成本高的信贷项目，如商店卡和发薪日贷款。我们还发现，有自我控制问题的消费者更有可能遭受收入冲击，信用卡提款和耐用品不可预见的费用，这表明缺乏自我控制增加了各种风险的暴露。在大多数说明中，我们发现在解释消费者过度负债时，缺乏自我控制比金融文盲更重要。我们讨论了这些发现的政策含义。(C)2011爱思唯尔有限公司版权所有。
This paper examines the relationship between self-control, financial literacy and over-indebtedness on consumer credit debt among UK consumers. Lack of self-control and financial illiteracy are positively associated with non-payment of consumer credit and self-reported excessive financial burdens of debt. Consumers who exhibit self-control problems are shown to make greater use of quick-access but high cost credit items such as store cards and payday loans. We also find consumers with self-control problems are more likely to suffer income shocks, credit withdrawals and unforeseen expenses on durables, suggesting that lack of self-control increases exposure to a variety of risks. In most specifications we find a stronger role for lack of self-control than for financial illiteracy in explaining consumer over-indebtedness. We discuss the policy implications of these findings. (C) 2011 Elsevier B.V. All rights reserved.