Social Determinants of Debt Problems in a Nordic Welfare State: a Finnish Register-Based Study
Atte Oksanen (),
Mikko Aaltonen () and
Kati Rantala ()
Journal of Consumer Policy, 2015, vol. 38, issue 3, 229-246
Many developed Western countries have seen rapid rises in personal debt and consumer credit during recent decades. Debt problems have become a widely recognized and common concern. This study analysed debt problems among the Finnish adult population from 2005 to 2013. Previous research on indebtedness and financial problems has relied on surveys, and studies using precise, register-based information about the most excluded social groups are needed. The primary data were based on a nationally representative random sample of 91 931 Finnish residents aged 19 to 65. The data contained information from several administrative registers, including information about debt enforcement. Low socioeconomic status, male gender, age, marital status, number of children, and prior criminal convictions were associated with debt problems. Income was not associated with the amount of outstanding private receivables, indicating that debt problems do not only boil down to social stratification and poverty. The younger age group had a higher prevalence of debt problems and higher amounts of both private and public receivables. Low levels of education predicted both higher prevalence of debt problems and higher amounts of outstanding receivables. The results underline the importance of understanding the social mechanisms of financial behaviour. Copyright Springer Science+Business Media New York 2015
Keywords: Over-indebtedness; Debt enforcement; Financial problems; SES; Social exclusion; Consumption; Consumer credit (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:kap:jcopol:v:38:y:2015:i:3:p:229-246
Ordering information: This journal article can be ordered from
http://www.springer. ... es/journal/10603/PS2
Access Statistics for this article
Journal of Consumer Policy is currently edited by Hans Micklitz, John Thøgersen, Lucia A. Reisch, Alan Mathios and Christian Twigg-Flesner
More articles in Journal of Consumer Policy from Springer
Bibliographic data for series maintained by Sonal Shukla ().