Impact of the COVID-19 Pandemic on the Consumer Credit Market in V4 Countries

Abstract

The aim of this article is to analyse and assess the impact of the COVID-19 pandemic on the consumer credit market in the countries of the Visegrad Group (V4, i.e., the Czech Republic, Poland, Slovakia, and Hungary). There is no doubt that the pandemic has determined the amount of household debt due to consumer credit in the V4 group, and thus the question arises of how the pandemic affects the propensity of households to take out loans and the propensity to lend to them, and therefore whether it affects both the behaviour of borrowers and lenders. The study used the time series and multiple linear regression methods. The results of the study show that the Covid-19 pandemic has determined the level of household debt in the V4 group and is not indifferent to household decisions regarding taking out consumer loans. Although the research is preliminary, it has contributed to some extent to a better understanding of household indebtedness at a time of turbulence and instability resulting from health factors in V4 countries. In the future, this research will serve as the basis for future research on the phenomenon of household indebtedness in other countries.

The Impact of the COVID-19 Pandemic on the Consumer Credit Market in Eurozone Countries

“…This is also shown in other studies by the authors in a series of analyses on the impact of the pandemic on the value of consumer credit (e.g. in the V4 countries) (Czech & Puszer, 2021).…”

The Risks of Smart Cities and the Perspectives of Their Management Based on Corporate Social Responsibility in the Interests of Sustainable Development

“…Unlike in previous works (Czech and Puszer 2021;Inshakova et al 2021;Ngo et al 2021;Zhang et al 2021), it was discovered that the impact of the COVID-19 pandemic on the development of smart cities is almost zero (smart cities do not depend on the achievement of SDG 3). Unlike in previous studies (Bibri 2021;Ibrahim et al 2021;Jackson 2021;Mach et al 2021;Sharma et al 2021;Trzeciak 2021), it was proved that the contribution of smart cities to the implementation of the SDGs is wider and goes beyond the limits of SDG 9 "Industry, innovation and infrastructure"-it also extends to SDG 1 (No poverty), SDG 11 (Sustainable cities and communities), SDG 12 (Responsible production and consumption), and SDG 13 (Climate action).…”

“…According to the current concept, under the impact of the COVID-19 pandemic, the additional factor of creation and development of smart cities is healthcare, the high level of which provides opportunities for financing of smart cities (Czech and Puszer 2021;Zhang et al 2021). However, a low level of healthcare and the ensuing serious problems (such as pandemics) slow down the development of smart cities and hinder the creation of new smart cities, causing the movement of resources from telecommunication infrastructure to healthcare and distracting state regulators from the regulatory support of smart cities (Inshakova et al 2021;Ngo et al 2021).…”

Covid Crisis Effects on Lending in the Romanian Banking Market

“…Another study proves that, during the pandemic, there is an increase in debt of non-financial agents, which results mainly of real estate credit growth in the case of Poland (Danilowska, 2022). Czech and Puszer (2021) prove that an increased transmission of the virus results in a low tendency for using consumer credit and a higher tendency, when there is a decline in Covid symptoms. The pandemic also has a negative impact on the credit card use, however this effect becomes smaller over time, but other factors impacting credit use include public health interventions and riskiness of borrowers (Horvath, Kay and Wix, 2021).…”