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KMID : 1001320170440020087
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Social Welfare Policy
2017 Volume.44 No. 2 p.87 ~ p.110
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Indebtedness and Deprivation of Basic Needs: Focusing on Material Hardship, Health, and Housing
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Park Jung-Min
Lee Seung-Ho
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Abstract
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This study examined the relationship of indebtedness with the degree of deprivation of basic needs in the areas of material hardship, health, and housing. The data for the analyses came from the 3rd-10th waves of the Korea Welfare Panel Study, collected from 2008 to 2015. The degree of deprivation was estimated using the fuzzy set theory. Major results are as follows: First, the low-income group had the debt-to-income ratio almost 2 times higher and the proportion of subprime loan 2-6 times higher, compared to the middle- and high-income groups. Second, among the lower income individuals (income deciles 1-3), the degree of deprivation in terms of material hardship and housing was much higher for those with indebtedness. Such differences were not observed for the middle- and high-income groups. The results suggest that a combination of low-income and indebtedness increases the risk of deprivation in basic needs and that there is a need for coordinating social safety net programs and financial counseling, management, and recovery services.
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KEYWORD
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indebtedness, deprivation, basic need, material hardship, housing, health
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