Vandone Consumer Credit in Europe

Risks and Opportunities of a Dynamic Industry
1. Auflage 2009
ISBN: 978-3-7908-2101-7
Verlag: Physica-Verlag HD
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 134 Seiten

Reihe: Contributions to Economics

Consumer credit has become a topical issue for researchers, regulators and the banking industry in Europe as a result of increasing market integration, regulatory changes and a growing tendency of households to use debt to finance consumption. This study uses a cross-country approach to look at a broad range of issues related to consumer credit in Europe. Focusing on both the supply and demand sides, it takes into account the structure and performance of financial intermediaries, the socio-demographic and economic profile of households and their risk of over-indebtedness, as well as the regulatory framework, such as the new Consumer Credit Directive. In the light of this analysis, measures for the prevention and management of over-indebtedness are presented. This book is essential for postgraduate students and specialists in financial institutions, for regulators and policy-makers who are in charge of efficiency and stability of financial systems.

Autoren/Hrsg.

Vandone, Daniela

Inhaltsverzeichnis

1;Acknowledgements;6
2;Contents;7
3;List of Tables;9
4;List of Figures;11
5;Introduction;12
5.1;1 Structure of the Book;13
5.2;2 Main Findings;15
6;Chapter 1 The Determinants of Consumer Credit: A Review of the Literature;17
6.1;1.1 Introduction;17
6.2;1.2 The Life-Cycle and Permanent Income Theories;18
6.3;1.3 Empirical Findings;22
6.4;1.4 Behavioural Economics;29
6.5;1.5 Summary of the Determinants of the Demand for and Supply of Consumer Credit;31
7;Chapter 2 Household Consumer Credit Demand;33
7.1;2.1 Introduction;33
7.2;2.2 Consumer Credit in Europe;33
7.3;2.3 Characteristics of Indebted Households;42
7.4;Appendix;53
8;Chapter 3 The Profitability of the Consumer Credit Industry;55
8.1;3.1 Introduction;55
8.2;3.2 The Consumer Credit Industry: Main Features;56
8.3;3.3 Profitability Analysis of a Sample of Specialised Consumer Credit Companies;62
8.4;Appendix;75
9;Chapter 4 From Indebtedness to Over-Indebtedness;79
9.1;4.1 Introduction;79
9.2;4.2 Over-Indebtedness: Defining Features;79
9.3;4.3 Policy Measures for the Prevention and Management of Over-Indebtedness;85
9.4;Appendix;101
10;Chapter 5 Regulatory Framework;108
10.1;5.1 Introduction;108
10.2;5.2 The New Consumer Credit Directive;109
10.3;5.3 Information Requirements for Consumer Credit Agreements;111
10.4;5.4 Assessment of Creditworthiness;121
10.5;5.5 Protection of Other Consumer Rights;123
10.6;5.6 The Supervision of Creditors and Credit Intermediaries;126
10.7;5.7 Further Remarks;130
10.8;Appendix;133