Tackling vulnerability to debt. Affordable lending alternatives and financial education:An evidence review

Mosedale, Sarah and Simpson, Glenn and Popay, Jennie and McGill, Rory and Cooper, Paula and Taylor, Catherine and Fisher, Kate and Sant, Helen (2018) Tackling vulnerability to debt. Affordable lending alternatives and financial education:An evidence review. Journal of Poverty and Social Justice, 26 (3). pp. 315-333. ISSN 1759-8273

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Abstract

The pathways to vulnerability to debt and what works to reduce such vulnerability are poorly understood. To address this knowledge gap, we conducted an evidence review. Many low-income borrowers have little alternative but to resort to high interest lending. Developing 'affordable' lending alternatives has been a challenge. Policy-makers have advocated person-centred approaches (for example, financial education) despite little evidence supporting the efficacy of such behavioural measures. Arguably this has shifted the burden of social responsibility and risk for managing problem debt primarily onto borrowers. While better regulation of the credit industry is needed, ultimately policymakers need to look beyond market-based solutions. © Policy Press 2018.

Item Type:
Journal Article
Journal or Publication Title:
Journal of Poverty and Social Justice
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/3300/3321
Subjects:
ID Code:
129508
Deposited By:
Deposited On:
28 Feb 2020 14:00
Refereed?:
Yes
Published?:
Published
Last Modified:
07 Oct 2020 07:15