The determinants of unsecured borrowing: evidence from the BHPS
- 15 October 2006
- journal article
- research article
- Published by Informa UK Limited in Applied Financial Economics
- Vol. 16 (15), 1119-1144
- https://doi.org/10.1080/09603100500438791
Abstract
The British Household Panel Survey (BHPS) for 1995 and 2000 is used to examine the determinants of participation in the unsecured debt market and the amount borrowed. Age, income, positive financial prospects and housing tenure are found to be significant in probit models for participation. Income is the main variable explaining cross-sectional differences in unsecured debts.Keywords
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