F. Carson Mencken, Craig Wesley Carpenter, Michael Lotspeich-Yadao, Charles M. Tolbert
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引用次数: 0
Abstract
Recent research on the restructuring of the financial industry from local banks to interstate conglomerates has raised questions about the impact on nonmetropolitan economies. In this paper, we develop two competing hypotheses and scrutinize the impact of local bank concentration (percent banks that are locally headquartered) on four measures of economic growth from 1980 to 2010 in metropolitan, micropolitan, and non-core Commuting Zones (CZs). We employ fixed effects panel regression models for the 1980–2010 time frame. We find that local bank concentration is positively related to business births and establishment dynamics in non-core and micropolitan CZs. The effects of local banking on measures of income and wages fail to show consistent effects. There are no positive local banking concentration effects on economic growth in metropolitan CZs during this time frame. Implications for theory, research, and policy are discussed.
期刊介绍:
A forum for cutting-edge research, Rural Sociology explores sociological and interdisciplinary approaches to emerging social issues and new approaches to recurring social issues affecting rural people and places. The journal is particularly interested in advancing sociological theory and welcomes the use of a wide range of social science methodologies. Manuscripts that use a sociological perspective to address the effects of local and global systems on rural people and places, rural community revitalization, rural demographic changes, rural poverty, natural resource allocations, the environment, food and agricultural systems, and related topics from all regions of the world are welcome. Rural Sociology also accepts papers that significantly advance the measurement of key sociological concepts or provide well-documented critical analysis of one or more theories as these measures and analyses are related to rural sociology.