1,720,975 research outputs found
Personal Debt in Europe. The EU Financial Market and Consumer Insolvency
No full textPersonal debt remains an important factor in many economic models because it encourages people to use debt to finance consumption. Whether this model is sustainable for individuals or the countries in which they reside is an ongoing question of great complexity and many social and economic implications, not only for the burdened individuals and their countries, but also for the EU as a whole. In Personal Debt in Europe, Federico Ferretti and Daniela Vandone examine the 'dark side' of personal debt, or over-indebtedness, in social and economic terms. They employ cross-country consumer-level data to present the latest empirical studies on the problem, analyse these findings to better understand its nature and causes, and discuss the merits of proposed insolvency legislation and harmonisation initiatives in the EU
European development banks and the political cycle
Full text linkThis paper investigates whether the lending activity of European development banks is affected by opportunistic political behavior, by looking at the change in loans extended by these entities in election years. The empirical analysis leverages on a unique manually collected dataset that includes all the development banks headquartered in Europe, for the period 2002–2015. A comparison with the rest of the European banking system reveals that while the political view of development banks cannot be supported as a general rule, it finds empirical evidence in flawed democracies, where large development banks actually tend to increase their lending activity in election years
Le banche di sviluppo in Europa
Full text linkIl lavoro si propone il duplice obiettivo di mappare le banche di sviluppo presenti in Eu- ropa e analizzarne le performance finanziarie. La principale evidenza empirica riscon- trata è che la redditività delle banche di sviluppo nel periodo 2000-2015 è solo di poco inferiore a quella del benchmark di settore. Inoltre, tale differenza non è statistica- mente significativa nei paesi dell’Europa occidentale e, più in generale, nel periodo suc- cessivo alla crisi del 2008. Le banche di sviluppo tendono a mostrare una maggiore resilienza quando l’economia rallenta, mentre nei paesi dell’Europa orientale svolgono addirittura un ruolo anticiclico. Durante gli anni elettorali, inoltre, si evidenziano dif- ferenze di comportamento fra le banche di sviluppo dell’Europa occidentale, più vir- tuose, e le banche di sviluppo dell’Europa orientale, più accomodanti
"The role of financial position on consumer indebtedness. An empirical analysis in Italy"
No full textThe present paper conducts an empirical analysis of the determinants of consumer credit debt in
Italy using a sample of the Survey of Household and Wealth over the 2002-2010 period. Although
a previous study has used the same survey, but on a different time period, to investigate the
determinants of consumer credit debt, the current paper is the first to investigate the role of
consumer financial position on consumer tendency to load up on more debt. The paper employs a basic pooled probit model in order to evaluate how the measure of the degree of individual
over-indebtednes relates to the main explanatory variable which is the "Economic position" assessing whether a consumer's disposable income is sufficient to cover a month's expenses
Debt advice in Europe: a search of the good practices to fight over-indebtedness
Full text linkPurpose – This paper aims to provide an overview of the current state of debt advisory services and good practices in Europe.
Design/methodology/approach – The authors examine how debt advisory services are organised in different European countries and how they can be used to address the phenomenon of over-indebtedness.
Findings – Debt advisory services seem to be varied and fragmented. There are few good practices that stand out, whereas in some countries there are no services available at all.
Originality/value – This study provides an updated and comprehensive review of good practices and suggests some measures for evaluating the effectiveness of debt advisory services
"The role of financial position on consumer indebtedness. An empirical analysis in Italy"
No full textThe present paper conducts an empirical analysis of the determinants of consumer credit debt in
Italy using a sample of the Survey of Household and Wealth over the 2002-2010 period. Although
a previous study has used the same survey, but on a different time period, to investigate the
determinants of consumer credit debt, the current paper is the first to investigate the role of
consumer financial position on consumer tendency to load up on more debt. The paper employs a basic pooled probit model in order to evaluate how the measure of the degree of individual
over-indebtednes relates to the main explanatory variable which is the "Economic position" assessing whether a consumer's disposable income is sufficient to cover a month's expenses
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