Structural and Value Dimensions of Household Indebtedness in Bulgaria

Dancho Petrov (), Evgeniya Tonkova () and Svetlana Todorova ()
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Dancho Petrov: University of Economics - Varna
Evgeniya Tonkova: University of Economics - Varna
Svetlana Todorova: University of Economics - Varna

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, 2020, vol. 9, issue 1, 17-25

Abstract: The assertion that household indebtedness is directly related to financial macrostability is considered an axiomatic rule in economic theory. The presence of a high level of indebtedness and sharp increases in its values are considered by experts as an indicator of an impending financial crisis and recession. The study of the dynamics and trends in household debt liabilities changes could answer many questions related to households’ financial stability and the measures that regulators should take. This research issue is particularly relevant in the current economic crisis caused by the global Covid-19 pandemic. The analysis of the structural and value dimensions of household indebtedness provides the necessary basis for studying the financial sustainability of households, with which they enter this challenging period.

Keywords: household indebtedness; financial crisis; financial literacy; global pandemic Covid-19; bank loans; consumer lending; mortgages (search for similar items in EconPapers)
JEL-codes: D1 G5 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:vra:journl:v:9:y:2020:i:1:p:17-25

DOI: 10.36997/IJUSV-ESS/2020.9.1.17

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