Financial literacy and consumer credit portfolios
Financial literacy and consumer credit portfolios
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DOI：
10.1016/j.jbankfin.2013.01.013
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发表时间：
2013-07-01
影响因子：
3.7
通讯作者：
Gathergood, John
中科院分区：
文献类型：
--
作者：
Disney, Richard;Gathergood, John
我们使用英国家庭样本的调查数据来分析金融知识和消费信贷组合之间的关系。我们发现，个人谁借消费信贷表现出较差的金融素养比那些谁不。金融知识贫乏的借款人比知识水平较高的借款人拥有更高比例的高成本信贷（如家庭收集信贷、邮购目录债务和发薪日贷款）。我们还表明，金融知识贫乏的人更有可能在解释信贷条款时缺乏信心，并表现出对金融概念的困惑。他们也不太可能从事可能有助于他们提高对信贷市场认识的行为。(C)2013 Elsevier B.V.保留所有权利。
We use survey data from a sample of UK households to analyse the relationship between financial literacy and consumer credit portfolios. We show that individuals who borrow on consumer credit exhibit worse financial literacy than those who do not. Borrowers with poor financial literacy hold higher shares of high cost credit (such as home collected credit, mail order catalogue debt and payday loans) than those with higher literacy. We also show that individuals with poor financial literacy are more likely to lack confidence when interpreting credit terms, and to exhibit confusion over financial concepts. They are also less likely to engage in behaviour which might help them to improve their awareness of the credit market. (C) 2013 Elsevier B.V. All rights reserved.