Munich Personal RePEc Archive

The growth of consumer credit in Asia

He, Dong and Yao, Effie and Li, Kim-hung (2005): The growth of consumer credit in Asia. Published in: Hong Kong Monetary Authority Quarterly Bulletin No. March 2005 (March 2005)

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Abstract

Consumer credit has shown strong growth in emerging and newly industrialised Asian economies in recent years. While credit card lending has helped smooth consumer spending and improved the profitability of financial institutions, it also represents a new source of risk.

Preventing financial and macroeconomic instability associated with consumer lending requires policy makers to be confident that lenders have proper risk management systems in place and consumers have sustainable debt burdens. Public policy also needs to ensure that essential infrastructure for consumer credit is available and set up properly, such as credit information bureaux and personal debt workout systems.

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