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KMID : 1001320190460020289
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Social Welfare Policy
2019 Volume.46 No. 2 p.289 ~ p.309
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Analysis of Household's Debt holding Characteristics by poverty status based on income- and asset-criter
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Shin Kyu-Soo
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Abstract
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This study divides poverty status into non-poverty, double poverty, income poverty, and asset poverty by the income and asset based criteria and examines the demographic and financial characteristics and the determinants of holding and the level of household debt by each four poverty classes. As a result, the asset poverty group and the double poverty group use non - institutional financing which they should pay a high-interest rate for the living expenses, and include the households with the highest risk level based on the debt risk index are included. Second, in the case of income poverty, the elderly who have the asset but have no income can belong to this class. However, under the age of 65, the most frequent job status of the income poverty is self-employed, and due to business difficulties are likely to temporarily lead them to this poverty status. Third, in the structural poverty class, unlike other classes, the probability of holding debt is significantly higher for the female householder, and the use of debt is for living expenses such as housing rental cost. Based on the results of this analysis, it seems that institutional support will be needed to establish preventive policies for poverty on a multidimensional level based on these characteristics.
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KEYWORD
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Income poverty, asset poverty, poverty status, determinants of debt holdings, risky asset holding
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