Unraveling the Drivers of Household Debt

An in-Depth Study of Factors

Bibliographic Data

ID22196752
AuthorsPriyanka Sahoo (Central University of Jharkhand), Ajay Pratap Yadav (Central University of Jharkhand)
Year2024
Volume5
Issue6
Publication date2024-06-30
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueShodhKosh: Journal of Visual and Performing Arts (JOURNAL)
Journal identifiersISSN: 2582-7472 • E-ISSN: 2582-7472
PublisherGranthaalayah Publications and Printers (PUBLISHER • IN)
DOI10.29121/shodhkosh.v5.i6.2024.3549
OpenAlexW4406110590
LanguageEN
References cited42

Over the past few decades, Household Debt (HHD) has expanded significantly in conjunction with credit to individuals. This study aims to synthesize information on household debt by identifying its main factors and laying the groundwork for future research. Through a brief study, an exhaustive analysis of 35 research articles based on household debt from 2007 to 2022 has been conducted to categorize the most influential factors affecting household debt. The majority of reviewed papers indicated that socio-demographic factors; income, age and gender, macroeconomic variables; unemployment, inflation, interest rate and behavioural aspects; risk attitude and religious beliefs were observed to be the most important dominating factors in deciding household debts across developed as well as developing nations. The study has also provided an approach for categorizing the key ideas, literature streams, and variables about household debt

Business · Debt · Geography · Household debt · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Housing, Finance, and Neoliberalism · Psychology · Finance

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