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Income transfers and household debt. The advancing collateralization of social policy in the midst of restructuring crises

Author

Listed:
  • Lena Lavinas
  • Eliane Araújo
  • Pedro Rubin

Abstract

The aim of this article is to address how household debt and contemporary creditmarkets seem to be the defining elements in the reshaping of social policy both in developing and developed countries. We start off by recalling how the implementation of incomepolicies as the core of a new social protection paradigm has contributed to promote marketbasedfinance. We take Brazil as a case study to illustrate how this new connection betweenstate guaranteed income policies and credit markets has unfolded resulting in increasinghousehold debt. We show evidence that the connection between household debt and stateprovidedmonetary benefits is effective and significant. JEL Classification: E44; O11; O54.

Suggested Citation

  • Lena Lavinas & Eliane Araújo & Pedro Rubin, 2024. "Income transfers and household debt. The advancing collateralization of social policy in the midst of restructuring crises," Brazilian Journal of Political Economy, Center of Political Economy, vol. 44(2), pages 298-318.
    • Handle: RePEc:ekm:repojs:v:44:y:2024:i:2:p:298-318:id:2455
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    More about this item

    Keywords

    Monetary benefits; collateralization; social policy; credit;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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