Personal Loan Companies in Poland: Does Empirical Evidence Justify Regulatory Transition?
Ładowanie...
Data
2017
Inny tytuł
Typ
Artykuł recenzyjny
Redaktor
dc.contributor.advisor
Dyscyplina PBN
Ekonomia i finanse
Czasopismo lub seria
Prague Economic Papers
ISSN
1210-0455
2336-730X
2336-730X
ISBN
DOI
10.18267/j.pep.627
Strona internetowa
Wydawca
Wydawca
Wydanie
Numer
Strony od-do
Tytuł monografii
item.page.defence
Tytuł tomu
Opis
Rodzaj licencji
Abstrakt (en)
We surveyed representative sample of 1,004 adult Poles to check the extent to which they
distinguish among the entities operating in the market for personal loans in Poland, how they
perceive loans and lending entities, and what is their knowledge on lending/borrowing issues.
Particularly, we were interested in getting the insight into the fragment of the market that is
operated by personal loan companies, with special emphasis on the profile of the average
(statistical) borrower. Our examination was motivated by the controversies surrounding the law
amendment started in Poland in 2015 in order to regulate the fraction of the consumer credit
market represented by personal loan companies. By utilizing logistic and multivariate linear
regression models with variables obtained from our survey, we tested whether the legal reform
was well-informed and well-addressed. We found that Polish households have serious problems
with distinguishing various entities that provide loans to private individuals and that such
problems manifest even greater problem of material shortcomings in Poles’ debt literacy. We
also evidenced low public trust to lending entities, particularly to loan companies. In the light
of the findings the law amendment is well-grounded, however it should be supported by actions
aimed at enhancing households’ financial literacy