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This paper provides evidence that financial markets can directly affect economic growth by studying the relaxation of bank branch restrictions in the United States over the past 25 years. We find that the rates of real, per-capita growth in income and output increase significantly following...
Persistent link: https://www.econbiz.de/10005512232
When the Riegle-Neal Interstate Banking and Branching Efficiency Act went into effect in June 1997, it marked the final stage of a quarter-century-long effort to relax geographic restrictions on banks. This article examines an earlier stage of the deregulatory process-the actions taken by the...
Persistent link: https://www.econbiz.de/10005499079
This paper shows that bank performance improves significantly after restrictions on bank expansion are lifted. We find that operating costs and loan losses decrease sharply after states permit statewide branching and, to a lesser extent, after states allow interstate banking. The improvements...
Persistent link: https://www.econbiz.de/10005420646
Bank branches in New York City tend to be spatially clustered. For instance, of the 221 branches that were opened in New York City between July, 1990 and June, 1995, 181 (or 82 percent) were opened in census tracts that already had at least one other branch. A number of recent theoretical papers...
Persistent link: https://www.econbiz.de/10005387265
This paper provides evidence that financial markets can directly affect economic growth by studying the relaxation of bank branch restrictions in the United States. The authors find that the rates of real, per capita growth in income and output increase significantly following intrastate branch...
Persistent link: https://www.econbiz.de/10005075896
Following the investment-cash flow literature, we test whether bank lending is constrained by the availability of insured deposits--a necessary condition for the existence of a bank lending channel of monetary policy. We treat insured deposits as a type of "internal fund," similar to cash flows....
Persistent link: https://www.econbiz.de/10005814110
This article shows that bank performance improves significantly after restrictions on bank expansion are lifted. We find that operating costs and loan losses decrease sharply after states permit statewide branching and, to a lesser extent, after states allow interstate banking. The improvements...
Persistent link: https://www.econbiz.de/10005613921
This paper shows that bank performance improves significantly after restrictions on bank expansion are lifted. We find that operating costs and loan losses decrease sharply after states permit statewide branching, and--to a lesser extent--after states allow interstate banking. The improvements...
Persistent link: https://www.econbiz.de/10005794466
The consolidation rate in the Federal Reserve's Second District banking markets generally outpaced the national average between 1989 and 1994. Nevertheless, these banking markets remain relatively unconcentrated, with midsized banks increasing their market share at the expense of large banks.
Persistent link: https://www.econbiz.de/10005717139
This paper shows that bank performance improves significantly after restrictions on bank expansion are lifted. We find that profits increase and loan quality improves after states permit statewide branching, and--to a lesser extent--after states allow interstate banking. The improvements...
Persistent link: https://www.econbiz.de/10005717209