Attitude of Hungarian Young Adults Towards Bank Loans: The Risk Mitigation Trap

IF 0.4 Q4 BUSINESS, FINANCE Public Finance Quarterly-Hungary Pub Date : 2022-01-01 DOI:10.35551/pfq_2022_1_2
Dániel Béres, K. Huzdik
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Abstract

The aim of this study is to examine the attitude of young adults (18–25 years) towards bank loans. For the analysis we used two primary data sources (financial literacy surveys were executed in 2013 and 2020). The samples are non-representatives, the number of involved survey participants exceeded 1,740 in both cases. The survey included 6 sections with open and closed questions, as well as likertscales. It was found that the attitude of young adults towards the loans is negative. Between the 2013 and 2020 surveys the economic cycle showed prosperity. As a result, the respondents devalued the importance of the loans in the economy. Besides, the extreme rejection of having a bank loan was also mitigated. As for the bank loan experiences of the respondents it was found that the purposes of the borrowed loans are along the good criteria of financial literacy – the spendings examined can be considered as an investment for the future. Regarding the satisfaction level of the respondents with the bank loans the most important satisfactory factor was the expectations for the future. The measures taken after 2008 financial crisis such as re-defining consumer friendly lending and executing population supporting policy involving credit institutions resulted a mild positive effect on the attitude of the young adults towards bank loans. Risk avoidance results a trap situation that is against financial inclusion and results disequilibrium in demand and supply of banking services. The effect of the so called ‘risk mitigation trap’ can be reduced by developing the financial literacy.
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匈牙利年轻人对银行贷款的态度:风险缓解陷阱
本研究的目的是调查年轻人(18-25岁)对银行贷款的态度。为了进行分析,我们使用了两个主要数据来源(2013年和2020年分别进行了金融素养调查)。样本是非代表性的,两种情况下参与调查的人数都超过了1740人。该调查包括6个部分,有开放式和封闭式问题,以及类似的量表。调查发现,年轻人对贷款的态度是消极的。在2013年至2020年的调查中,经济周期显示出繁荣。因此,受访者低估了贷款在经济中的重要性。此外,对银行贷款的极端排斥也得到了缓解。至于受访者的银行贷款经历,发现所借贷款的目的是沿着良好的金融素养标准-审查的支出可以被视为对未来的投资。就受访者对银行贷款的满意程度而言,最重要的满意因素是对未来的期望。2008年金融危机后采取的措施,如重新定义消费者友好型贷款和执行涉及信贷机构的人口支持政策,对年轻人对银行贷款的态度产生了温和的积极影响。风险规避造成了不利于普惠金融的陷阱局面,导致银行服务的供需失衡。所谓的“风险缓解陷阱”的影响可以通过发展金融知识来减少。
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来源期刊
CiteScore
0.90
自引率
40.00%
发文量
30
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