Theories and Evidence of Financial Vulnerability

Jerry Buckland () and Brenda Spotton Visano
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Jerry Buckland: Redekop School of Business Canadian Mennonite University

Chapter Chapter 2 in Financial Vulnerability in Canada, 2022, pp 15-34 from Springer

Abstract: Abstract This chapter surveys the academic literature related to financial vulnerability, covering theories that are rooted in the assumption of individual agency and those focused on social, institutional, or structural processes to explain financial vulnerability. Behavioral finance has been very influential in recent years, but it can reinforce the attribution of financial difficulties to agent errors and downplay the importance of structures. This gap is addressed by the institutional and structural literature, and we consider the importance of social networks in engendering or preventing financial vulnerability. Penultimately, this chapter examines macroeconomic studies of financial vulnerability in Canada. These studies consider issues of income and asset poverty as important factors in shaping financial vulnerability.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-92581-9_2

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DOI: 10.1007/978-3-030-92581-9_2

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