The national credit act and macroeconomic variables in the context of over-indebtedness in South Africa

Nico Keyser, Cecile Duvenhage and Mohamed Abdulla
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Nico Keyser: University Free State
Cecile Duvenhage: University Free State
Mohamed Abdulla: University of the Free State, Bloemfontein, South Africa

International Journal of Research in Business and Social Science (2147-4478), 2024, vol. 13, issue 6, 182-188

Abstract: This article reports on a study aimed at measuring and characterising consumer over-indebtedness in South Africa, despite the existence of financial regulatory measures and legislation. The study employed quantitative analysis to examine the impact of macroeconomic variables on consumer over-indebtedness. The primary conclusion of the study indicated that the debt-to-disposable-income ratio decreased following the enactment of the National Credit Act; nevertheless, the alterations in debt levels cannot be solely ascribed to the enforcement of regulations and legislation. The study findings indicate that over-indebtedness correlates positively with gross domestic product, consumer expenditure, unemployment, and the debt-to-income ratio, while exhibiting a negative correlation with the interest rate. Key Words:National Credit Act, macroeconomic variables, over-indebtedness, South Africa, , tablets

Date: 2024
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