淡江大學機構典藏:Item 987654321/126463
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    Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/126463


    Title: Decomposing the factors influencing household debt: the case of China
    Authors: Hsiao, I-fan
    Keywords: Household debt;quantile regression;quantile regression-based decomposition;financial knowledge
    Date: 2021-10-21
    Issue Date: 2024-11-11 12:05:54 (UTC+8)
    Publisher: Taylor & Francis
    Abstract: This study discusses the issue of household debt in China based on the data of China household finance survey completed in 2015. The quantile regression model is adopted as the key research method, and the conclusions are derived are as follows. The increase in household debt in China is significantly correlated with several financial factors, including household assets and income, as well as the socioeconomic factors of education, age and working unit, in addition to senses of security and happiness. The assets of highly indebted households influence their debt in a positive way; the influence of income on household debt decreases as the quantile increases; the householder age has a negative effect across all household quantiles, and the debt holdings are less at older ages. The influence of household educational background dramatically increases from negative to positive following the indebtedness level, suggesting that enormous debt burdens may be generated from the cross effect of disadvantages in income and educational background. By decomposing the results of the quantile regression estimations, the evidence suggests that sufficient financial knowledge is essential in avoiding the financial distress from household debt.
    Relation: Applied Economics 54(23),　p.2627-2642
    DOI: 10.1080/00036846.2021.1992343
    Appears in Collections:[Graduate Institute & Department of Banking and Finance] Journal Article

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