Abstract Based on the latest published consumer survey data, this paper examines characteristics and influencing factors of the urban household debt heterogeneity and the results indicate that: the increase of asset holdings will significantly reduce household debt willingness, among which the stronger the assets investment properties are, the greater the impact on household debt willingness is and the contribution changes in descending order in terms of financial assets, real estate and other assets etc.; income significantly increases family debt ratio; family income increase has less impact on low debt family than that on highly-indebted families; the increase of assets will significantly reduce the household debt ratio; future earnings expectations and children’s dependency ratio have significant positive effect on the household debt ratio. Variables including occupation, gender and marriage etc. have no significant effect on household debt. The above conclusions provide decision-making reference for policies including reducing the vulnerability of family finance etc.
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