Households’ Borrowing Intentions During the COVID-19 Crisis: The Role of Financial Literacy

Lukasz Kurowski () and Elzbieta Malinowska-Misiag ()
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Lukasz Kurowski: Warsaw School of Economics
Elzbieta Malinowska-Misiag: Warsaw School of Economics

Journal of Banking and Financial Economics, 2022, vol. 1, issue 17, 798-113

Abstract: This study aims to determine the role of financial literacy in households’ borrowing intentions during the coronavirus pandemic. Employing a survey of 1,300 Polish citizens conducted during the COVID-19 crisis and an instrumental variable analysis, we found that financial literacy significantly increases households’ borrowing intentions. This applies to financially sound consumers both in crisis and normal times. In terms of sociodemographic features, young adults and the less educated are less willing to borrow during the pandemic.

Keywords: borrowing intentions; financial literacy; instrumental variables; quantile regression (search for similar items in EconPapers)
JEL-codes: D14 D91 G51 G53 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:sgm:jbfeuw:v:1:y:2022:i:17:p:98-113

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