Households’ Borrowing Intentions During the COVID-19 Crisis: The Role of Financial Literacy

• Authors: Łukasz Kurowski , Elżbieta Malinowska-Misiąg

Abstracts

EN

This study aims to determine the role of financial literacy in households’ borrowing intentions during the coronavirus pandemic. Employing a survey of 1,300 Polish citizens conducted during the COVID-19 crisis and an instrumental variable analysis, we found that financial literacy significantly increases households’ borrowing intentions. This applies to financially sound consumers both in crisis and normal times. In terms of sociodemographic features, young adults and the less educated are less willing to borrow during the pandemic.

Keywords

EN

borrowing intentions; financial literacy; instrumental variables; quantile regression

• Publisher: Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
• Journal: Journal of Banking and Financial Economics
• Year: 2022
• Issue: 1(17)
• Pages: 98-113

Dates

published

2022

Contributors

author

Łukasz Kurowski

• Warsaw School of Economics, Poland

• https://orcid.org/0000000233064276

author

Elżbieta Malinowska-Misiąg

• Warsaw School of Economics, Poland

• https://orcid.org/000000018710781X

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Identifiers

DOI

10.7172/2353-6845.jbfe.2022.1.6

Biblioteka Nauki

2162655