Models of Credit Behavior and Factors for Their Choice

For the last 6 years, the market of crediting individuals has increased its importance and has been developing rather rapidly every year. Since western countries adopted these processes long ago, their analysis of loan getting behavior started in 1970s. Russian attempts to direct such a research have been very scarce. The majority of Russian citizens have come to realize that a loan authorizes consuming every necessity in young age; and allows carefree life gradually paying off the credit. At the same time the development of credit market in Russia is obviously held back not only with economic but cultural and social factors. As for social and demographic structure of conducted research, the article states that it does not have distinctive patterns either. Consequently, it is safe to affirm that even with very thorough attempt for research, credit market has got a long time to be established and comprehended by Russian citizens due to traditionally skeptical thinking about debts and money in general. Adapted from the source document.