A meta-analytic investigation of consumer over-indebtedness: the role of impulsivity

In the past decade, evidence has been accumulated on the relationship between impulsivity and over-indebtedness. Nevertheless, the magnitude of such association is still considered marginal compared to traditional socio-demographic and economic factors, with the important consequence that impulsivity continues to be ignored in policy interventions for preventing and dealing with over-indebtedness. The aim of this study was to meta-analyse existing studies to answer the question: Are higher levels of impulsivity associated with greater over-indebtedness? Scopus and Web of Science databases were searched for English language studies. Seventeen studies were eligible for the analysis. The random effect model yielded a significant positive association between impulsivity and over-indebtedness (Hedges' g =.40). Type of over-indebtedness (debt holding vs. unmanageable debt) and work status (percentage of employed individuals) significantly moderated this association. Results are discussed in terms of implications and recommendations for future research, policy and practice.