Households’ Debt and Financial Sustainability in South Africa
|Author(s)||by Elvis Munyaradzi Ganyaupfu|
|Keywords||household debt, household financial behaviour, financial sustainability, disposable income|
|Open Access||Access PDF Open in New Tab|
The objective of this study was to analyse South African household sectors’ financial behaviour in respect of how households historically reacted to their aggregate debt position during the period 1990-2013. Following diagnostic assessment of stationarity and co integration properties of time series data, a saving reaction function was estimated to examine whether households’ financial behaviour was sustainable subject to the lifecycle model. A standard four-variable framework of the Vector Error Correction Model (VECM)was estimated using E-views. Inconformity to the lifecycle model, the results provide evidence that households indeed behaved in a financially sustainable manner during the period under review.
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