5 PAGES REPORT First Draft Household IndebtednessWord文档下载推荐.docx

5 PAGES REPORT First Draft Household IndebtednessWord文档下载推荐.docx

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5PAGESREPORTFirstDraftHouseholdIndebtedness@#@Abstract@#@Nowadayshouseholdswholiveinthemodernworldseemhardtoescapefromdebtmoreoverwiththegrowingamountsofproductsandservicethatbankinginstitutionshadofferedsuchasunsecureddebtlikecreditcards.Problemariseswhenhouseholdschoosetoconsumemorethantheamountearn,inwhichcasetheytoborrowwhichismakingloanusuallyfromthebankorotherresources.AccordingtoCreditCounselingandDebtmanagementAgency（AKPK）ofthe50,361casesthatenrolledindebtmanagementprogram,10.6percenthouseholdscouldnotpaytheircreditcarddebtwhiletheremaining74.3percenthadrepaymentproblemwithhousingloans,carloansandcreditcardsoutstanding.Thusitisnecessarytostudyaboutthefactorsthatdeterminehouseholdindebtedness.Thisstudywillexaminetherelationshipbetweeneconomic,socio-demographicandbehavioralfactorsandhouseholdindebtedness.AsurveywillbeconductedbyusingconveniencesamplingofworkinghouseholdsinKualaLumpurtounderstandthemicroexplanationthatunderlieshouseholdindebtedness.Possibly,thiswouldgivesomeinsightsonwhyhouseholdsborrowandgivessomeindicationsonwhatkindofpolicythatisneededtohelpcurbthisproblem.@#@ @#@@#@1.0Introduction@#@Nowadayshouseholdswholiveinthemodernworldseemhardtoescapefromdebtmoreoverwiththegrowingamountsofproductsandservicethatbankinginstitutionshadofferedsuchasunsecureddebtlikecreditcards.Householdsalsofaceaverychallengingtaskinmanagingtheireconomicdecisionwhichbasicallyinvolvesthedecisiontoconsumeortosavetheirmonthlyincome.Problemariseswhenhouseholdschoosetoconsumemorethantheamountearn,inwhichcasetheytoborrowwhichismakingloanusuallyfromthebankorotherresources.@#@@#@Sincethe1997Asianfinancialcrisis,bankinginstitutionsinMalaysiahadreducedthecredittobusinessandfocusedmoreongivingcredittothehouseholdsasapartofbankingbusinessdiversificationstrategy.Governmentpoliciesalsoplayaroleinprovidedgreateraccesstocreditbythehouseholds.Forexamplegovernmentpromoteshomeownershippolicyandthereductionofdutiesoncars.@#@Government’spromotethehomeownershippolicythusbankdirectlybyusingtheircapacityandbusinessstrategyareencouragetoofferhousingloansespeciallytolowincomeclass.AccordingtoNorhanaandHua（2009）intheirresearchon“HouseholdDebtinMalaysia”,bankinginstitutionshavebeenwillingtofinanceresidentialmortgagesbecausesuchloansaretypicallyviewedaslowrisk.LocalpressTheStarreported,studieshaveshownthatNonPerformingLoans（NPL）forhomebuyerswithpropertiesbelowRM150,000werehighercomparedwiththoseinthehigherincome.Thereductionofdutiesoncarsalsocontributestoincreaseinhousehold’scredit.Thusthepurchaseofpassengercarsissecondlargestproportionofhouseholddebt.Astheconsequencethecarloanscontributed23%oftotalhouseholdloansattheendof2007（NorhanaandHua,2009）.@#@@#@CentralBankAnnualReport2009reportedthatthehouseholddebttoGDPratiohadbeenshotupto76.6percentfor2009whichisthehighestinAsia（excludingJapan）.AnotebyCIMBResearchdatedOct28statedthattheratioofhouseholddebttopersonaldisposalincomehit140.4%in2009whichwashigherthanSingapore105.3%andtheUS123.3%.Thissituationshowedthatonaverage,Malaysianhouseholddebtisgreaterthantheirincome.@#@1.1StatementofResearchProblem@#@Kee（2010）reportedthatstudiescarriedoutintheadvancedeconomieshaveshownahigherratioofhouseholddebttodisposableincomeisakeydeterminantoffinancialdistress.Giventherisingtrendinthehouseholddebt,morehouseholdsaregettingintodebtsituationasaresultofhigherspendinglevels.CreditCounselingandDebtmanagementAgency（AKPK）CEOMohamedAkwalSultanstatedthat,“44percentoftheindividualswhojoinedthedebtmanagementprogrambelongtoagegroup30to40yearsoldandsomeoftheindividualsstarttohaverepaymentissueswhentheyareevenyoungerbecausemanyofthemdonothavesalariesthatcommensuratewiththeirlifestyle”.@#@@#@AKPKrecordedfrom50,361casesthatenrolledindebtmanagementprogram,10.6percenthouseholdscouldnotpaytheircreditcarddebtwhiletheremaining74.3percenthadrepaymentproblemwithhousingloans,carloansandcreditcardsoutstanding.BesidesthattheDepartmentofInsolvencyMalaysia（MDL）reportedthatthisagencyhadrestructured80,348bankruptcycasesfrom2005toMay2010.MDLalsolistedsomeofcasesinvolvedindifferenttypeofloansthatcausedthebankruptcywhichare9,464casesforfailingtosettlepersonalloans,6,022casesforfailingtosettlehousingloansand4,417casesforfailingtosettlecreditcarddebts.Thesesituationsaresignsforthegovernm