A study of the effects of bank structure and profitability on the births of new firms, arguing that local credit markets potentially affect firm location decisions.

An examination of the effects of price and availability of credit from commercial lending organizations on the start-up rates of new businesses within specific markets, finding that profitable and competitive banking markets are associated with higher rates of firm births.

An examination of the costs and benefits of cutbacks in federal aid to state and local governments during the 1980s, concluding that less reliance on federal funds may result in long-term benefits.