Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Tackling vulnerability to debt. Affordable lending alternatives and financial education
T2 - An evidence review
AU - Mosedale, Sarah
AU - Simpson, Glenn
AU - Popay, Jennie
AU - McGill, Rory
AU - Cooper, Paula
AU - Taylor, Catherine
AU - Fisher, Kate
AU - Sant, Helen
PY - 2018/10
Y1 - 2018/10
N2 - The pathways to vulnerability to debt and what works to reduce such vulnerability are poorly understood. To address this knowledge gap, we conducted an evidence review. Many low-income borrowers have little alternative but to resort to high interest lending. Developing 'affordable' lending alternatives has been a challenge. Policy-makers have advocated person-centred approaches (for example, financial education) despite little evidence supporting the efficacy of such behavioural measures. Arguably this has shifted the burden of social responsibility and risk for managing problem debt primarily onto borrowers. While better regulation of the credit industry is needed, ultimately policymakers need to look beyond market-based solutions. © Policy Press 2018.
AB - The pathways to vulnerability to debt and what works to reduce such vulnerability are poorly understood. To address this knowledge gap, we conducted an evidence review. Many low-income borrowers have little alternative but to resort to high interest lending. Developing 'affordable' lending alternatives has been a challenge. Policy-makers have advocated person-centred approaches (for example, financial education) despite little evidence supporting the efficacy of such behavioural measures. Arguably this has shifted the burden of social responsibility and risk for managing problem debt primarily onto borrowers. While better regulation of the credit industry is needed, ultimately policymakers need to look beyond market-based solutions. © Policy Press 2018.
KW - Affordable lending
KW - Financial education
KW - Payday loans
KW - Problem debt
U2 - 10.1332/175982718X15299593316586
DO - 10.1332/175982718X15299593316586
M3 - Journal article
VL - 26
SP - 315
EP - 333
JO - Journal of Poverty and Social Justice
JF - Journal of Poverty and Social Justice
SN - 1759-8273
IS - 3
ER -