The multi‑dimensional effect of household debt on urban individual well‑being in Klang Valley Malaysia
Debt is beneficiary to individuals and households when their consumption can be extended with credit. However, the benefits gained from availability of credit have negative implications, and research on indebtedness has become a focus of many scholars from different fields of study. Therefore, th...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English English |
| Published: |
Springer Science and Business Media B.V.
2021
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/97372/7/97372_The%20multi%E2%80%91dimensional%20effect.pdf http://irep.iium.edu.my/97372/8/97372_The%20multi%E2%80%91dimensional%20effect%20of%20household%20debt_Scopus.pdf http://irep.iium.edu.my/97372/ http://link.springer.com/10.1007/s11205-021-02706-7 |
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| Summary: | Debt is beneficiary to individuals and households when their consumption can be extended
with credit. However, the benefits gained from availability of credit have negative implications,
and research on indebtedness has become a focus of many scholars from different
fields of study. Therefore, this research sought to explore the implications of household
debt on individuals’ social and economic well-being by using 407 sample data collected
from the urban households in Klang Valley, Malaysia. Several regression models were
applied to investigate the impact of household debt on individual’s well-being from various
aspects such as economic, psychological, physical health and family relationships. The
principle finding was that the impact of household debt extended beyond the economic
aspect to all the other three dimensions as well. However, the analysis shows that there
are differences with regard to the extent of the impact across the four aspects. The highest
impact is on the psychological well-being, compared to other dimensions of well-being.
Furthermore, the research also found there is a clear difference between the effect of
secured loan and unsecured loan on the social and economic well-being. |
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