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CONSUMER CREDIT IN AUSTRALIA DURING THE 20TH CENTURY

Pierre van der Eng

ANU Working Papers in Economics and Econometrics from Australian National University, College of Business and Economics, School of Economics

Abstract: This article surveys the growth of consumer credit in Australia during the 20th century, particularly after World War II. Until the 1970s, the regulation of Australia’s financial market caused formal consumer credit to be provided mainly by finance companies under hire-purchase contracts, largely for the purchase of cars and household durables. Deregulation of the financial market since the 1960s allowed banks to gain a dominant share in the market for personal loans. Quantification of long-term trends is difficult, but broad estimates suggest sustained growth in per capita indebtedness during 1945-2007.

JEL-codes: D14 E21 E51 G23 N27 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2008-01
New Economics Papers: this item is included in nep-ban, nep-his and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:acb:cbeeco:2008-489

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