Locally Owned Bank Concentration and Business Start-Ups and Closures in U.S. Metropolitan, Micropolitan, and Rural Counties from 1980-2010
Access to financial capital is vital for the sustainability of the local business sector. Recent research on the restructuring of the financial industry from local owned banks to interstate conglomerates has raised questions about the impact on local economies, especially in rural areas. We examine...
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| Published in: | The Review of regional studies Vol. 50; no. 1; p. 17 |
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| Main Authors: | , , , |
| Format: | Journal Article |
| Language: | English |
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New Brunswick
Southern Regional Science Association
22-12-2019
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| Abstract | Access to financial capital is vital for the sustainability of the local business sector. Recent research on the restructuring of the financial industry from local owned banks to interstate conglomerates has raised questions about the impact on local economies, especially in rural areas. We examine the impact of bank ownership concentration on business formations, continuations, and deaths in metropolitan, micropolitan, and rural non-core U.S. counties. Using limited-access Census data, we find that local bank concentration is positively related to business births and deaths, or churn, in rural counties, but the opposite effects occur in metropolitan areas. We demonstrate robustness to several specifications and spatial spillover effects. |
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| AbstractList | Access to financial capital is vital for the sustainability of the local business sector. Recent research on the restructuring of the financial industry from local owned banks to interstate conglomerates has raised questions about the impact on local economies, especially in rural areas. We examine the impact of bank ownership concentration on business formations, continuations, and deaths in metropolitan, micropolitan, and rural non-core U.S. counties. Using limited-access Census data, we find that local bank concentration is positively related to business births and deaths, or churn, in rural counties, but the opposite effects occur in metropolitan areas. We demonstrate robustness to several specifications and spatial spillover effects. |
| Author | Carpenter, Craig Wesley Lotspeich, Michael Mencken, F. Carson Tolbert, Charles M. |
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| Copyright | 2019. Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the associated terms available at https://rrs.scholasticahq.com/article/11479-locally-owned-bank-concentration-and-business-start-ups-and-closures-in-u-s-metropolitan-micropolitan-and-rural-counties-from-1980-2010. |
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| Title | Locally Owned Bank Concentration and Business Start-Ups and Closures in U.S. Metropolitan, Micropolitan, and Rural Counties from 1980-2010 |
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