Details
| Originalsprache | Englisch |
|---|---|
| Seiten (von - bis) | 1-23 |
| Seitenumfang | 23 |
| Fachzeitschrift | Journal of Asian Economics |
| Jahrgang | 56 |
| Frühes Online-Datum | 24 Apr. 2018 |
| Publikationsstatus | Veröffentlicht - Juni 2018 |
Abstract
This study analyzes the determinants of household over-indebtedness and its persistence for rural household borrowers in Thailand and Vietnam. A household is considered to be over-indebted if it is in default or arrears on a loan or if its ratio of debt service to income exceeds 50 percent. The persistence of over-indebtedness was tested using a Heckman random effects dynamic probit model controlling for the effect of household demographic, socioeconomic, and behavioral characteristics. For Thailand, but not for Vietnam, past experience of over-indebtedness increases the probability of being over-indebted in the present, controlling for other household characteristics. Village support systems in Vietnam may be more effective in delivering households out of over-indebtedness than in Thailand where heavy debt burdens are taken more for granted. Household characteristics that significantly increase the probability of over-indebtedness include poverty, household size, low education, overly optimistic forecasting of income, and a sense of being less well off than other villagers.
ASJC Scopus Sachgebiete
- Volkswirtschaftslehre, Ökonometrie und Finanzen (insg.)
- Finanzwesen
- Volkswirtschaftslehre, Ökonometrie und Finanzen (insg.)
- Volkswirtschaftslehre und Ökonometrie
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in: Journal of Asian Economics, Jahrgang 56, 06.2018, S. 1-23.
Publikation: Beitrag in Fachzeitschrift › Artikel › Forschung › Peer-Review
}
TY - JOUR
T1 - Over-indebtedness and its persistence in rural households in Thailand and Vietnam
AU - Chichaibelu, Bezawit Beyene
AU - Waibel, Hermann
N1 - Publisher Copyright: © 2018 Copyright: Copyright 2018 Elsevier B.V., All rights reserved.
PY - 2018/6
Y1 - 2018/6
N2 - This study analyzes the determinants of household over-indebtedness and its persistence for rural household borrowers in Thailand and Vietnam. A household is considered to be over-indebted if it is in default or arrears on a loan or if its ratio of debt service to income exceeds 50 percent. The persistence of over-indebtedness was tested using a Heckman random effects dynamic probit model controlling for the effect of household demographic, socioeconomic, and behavioral characteristics. For Thailand, but not for Vietnam, past experience of over-indebtedness increases the probability of being over-indebted in the present, controlling for other household characteristics. Village support systems in Vietnam may be more effective in delivering households out of over-indebtedness than in Thailand where heavy debt burdens are taken more for granted. Household characteristics that significantly increase the probability of over-indebtedness include poverty, household size, low education, overly optimistic forecasting of income, and a sense of being less well off than other villagers.
AB - This study analyzes the determinants of household over-indebtedness and its persistence for rural household borrowers in Thailand and Vietnam. A household is considered to be over-indebted if it is in default or arrears on a loan or if its ratio of debt service to income exceeds 50 percent. The persistence of over-indebtedness was tested using a Heckman random effects dynamic probit model controlling for the effect of household demographic, socioeconomic, and behavioral characteristics. For Thailand, but not for Vietnam, past experience of over-indebtedness increases the probability of being over-indebted in the present, controlling for other household characteristics. Village support systems in Vietnam may be more effective in delivering households out of over-indebtedness than in Thailand where heavy debt burdens are taken more for granted. Household characteristics that significantly increase the probability of over-indebtedness include poverty, household size, low education, overly optimistic forecasting of income, and a sense of being less well off than other villagers.
KW - Household over-indebtedness
KW - Microcredit
KW - Persistence of over-indebtedness
KW - Random effects dynamic probit model
KW - Thailand
KW - Vietnam
UR - http://www.scopus.com/inward/record.url?scp=85046774286&partnerID=8YFLogxK
U2 - 10.1016/j.asieco.2018.04.002
DO - 10.1016/j.asieco.2018.04.002
M3 - Article
AN - SCOPUS:85046774286
VL - 56
SP - 1
EP - 23
JO - Journal of Asian Economics
JF - Journal of Asian Economics
SN - 1049-0078
ER -