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Credit Card Policy In A Globalized World, Ronald J. Mann
Credit Card Policy In A Globalized World, Ronald J. Mann
Faculty Scholarship
This paper relies on data from countries around the world to present a comprehensive analysis of policy issues related to credit cards. The first part discusses the rise of credit cards and debit cards and how their uses differ from country to country. It closes with a framework for explaining why cards are more and less successful in different countries, focusing in large part on the ready availability of detailed consumer credit information. The second part considers the relation between credit card use and bankruptcy. Relying on a time series of data from the United States, Canada, Great Britain and …
Global Credit Card Use And Debt: Policy Issues And Regulatory Responses, Ronald J. Mann
Global Credit Card Use And Debt: Policy Issues And Regulatory Responses, Ronald J. Mann
Faculty Scholarship
The rise of card-based payments has transformed the landscape of payments in the last half century, from one dominated by government-supported paper-based payments to one dominated by wholly private systems. The rise of those payments presents a number of policy problems, the most serious of which is the empirically demonstrable likelihood that use of the cards here and elsewhere contributes to an undue level of consumer credit and that borrowing on the cards contributes to a rise in the level of consumer bankruptcy. Because increasing financial distress imposes substantial externalities on the economies in which it occurs, the global rise …