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Consumer Credit In Australia During The 20th Century

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  • Pierre van der Eng

Abstract

This article surveys the growth of consumer credit in Australia during the 20th century, particularly after World War II. Until the 1970s, the regulation of Australia’s financial market caused formal consumer credit to be provided mainly by finance companies under hire-purchase contracts, largely for the purchase of cars and household durables. Deregulation of the financial market since the 1960s allowed banks to gain a dominant share in the market for personal loans. Quantification of long-term trends is difficult, but broad estimates suggest sustained growth in per capita indebtedness during 1945-2007.

Suggested Citation

  • Pierre van der Eng, 2008. "Consumer Credit In Australia During The 20th Century," ANU Working Papers in Economics and Econometrics 2008-489, Australian National University, College of Business and Economics, School of Economics.
    • Handle: RePEc:acb:cbeeco:2008-489
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    File URL: https://www.cbe.anu.edu.au/researchpapers/econ/wp489.pdf
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    References listed on IDEAS

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    1. B. J. Gordon, 1961. "Three Hire Purchase Surveys," The Economic Record, The Economic Society of Australia, vol. 37(79), pages 386-388, September.
    2. Margaret G. Myers, 1961. "The Control Of Consumer Credit In Australia," Journal of Finance, American Finance Association, vol. 16(3), pages 409-422, September.
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      JEL classification:

      • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
      • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
      • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
      • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
      • N27 - Economic History - - Financial Markets and Institutions - - - Africa; Oceania

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