Emergency finance in Australian households: An empirical analysis of capacity and sources. Discussion paper No 163

Worthington, Andrew C. (2003) Emergency finance in Australian households: An empirical analysis of capacity and sources. Discussion paper No 163. [Working Paper] (Unpublished)


This paper examines demographic and socioeconomic characteristics as predictors of emergency finance in Australian households. The data is drawn from the most recent Household Expenditure Survey Confidentialised Unit Record Files (CURF) and relate to 6,892 probability-weighted households. Emergency finance is defined in terms of the ability to raise $2,000 within one week and its potential sources include own savings and loans from deposit-taking institutions, finance companies, credit cards, family and friends and welfare or community organisations. Characteristics examined included family structure and composition, source and level of household income, age, sex and marital status, ethnic background and housing value. Binary logistic models are used to identify the source and magnitude of factors associated with the ability to raise emergency finance and the likelihood of choosing each method of raising finance. The results indicate that the presence of children, the number of dependents and income-earning units, the age, sex and ethnicity of the household head, dependency upon government pensions and benefits, homeownership and disposable income are significant determinants of the capacity to raise emergency finance. However, the demographic and socioeconomic factors examined are generally better at predicting mainstay sources of finance such as own savings and loans from deposit-taking institutions and credit card usage than loans from family and friends and welfare or community organisations.

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ID Code: 8800
Item Type: Working Paper
Refereed: No
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200) > Financial Economics (140207)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Copyright Owner: Copyright 2003 The author
Deposited On: 26 Jul 2007 00:00
Last Modified: 05 Jan 2011 13:32

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