Pub Date : 2023-05-17DOI: 10.1177/08912424231174836
C. Wen
Criticisms against tax incentives typically come from either the regional inequality perspective that compares a locality with others in terms of the amount of revenues foregone or the opportunity cost perspective that compares a locality with itself in an alternate reality where it foregoes less or none. How foregone/hypothetical revenues affect collected/actual revenues and related fiscal outcomes is less understood. This article examines the association between the amount of abated taxes and school district revenues and expenditures in 2019 for the nine U.S. states that have sufficient tax abatement data for such analyses. Findings show that districts experiencing greater incentive cost burden have fewer overall revenues per pupil, depend more on local sources besides property tax, spend less on teaching salaries, and are more likely to be underfunded. Some of these effects vary by district wealth, suggesting the need to fine-tune the incentive award levels according to local conditions.
{"title":"Do Economic Development Tax Abatements Affect School Finances?","authors":"C. Wen","doi":"10.1177/08912424231174836","DOIUrl":"https://doi.org/10.1177/08912424231174836","url":null,"abstract":"Criticisms against tax incentives typically come from either the regional inequality perspective that compares a locality with others in terms of the amount of revenues foregone or the opportunity cost perspective that compares a locality with itself in an alternate reality where it foregoes less or none. How foregone/hypothetical revenues affect collected/actual revenues and related fiscal outcomes is less understood. This article examines the association between the amount of abated taxes and school district revenues and expenditures in 2019 for the nine U.S. states that have sufficient tax abatement data for such analyses. Findings show that districts experiencing greater incentive cost burden have fewer overall revenues per pupil, depend more on local sources besides property tax, spend less on teaching salaries, and are more likely to be underfunded. Some of these effects vary by district wealth, suggesting the need to fine-tune the incentive award levels according to local conditions.","PeriodicalId":47367,"journal":{"name":"Economic Development Quarterly","volume":" ","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44578778","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-04DOI: 10.1177/08912424231171847
I. Demko, A. Sant’Anna
The Paycheck Protection Program helped to preserve employment relationships during the sudden shutdown of economic activity due to the COVID-19 pandemic. This paper analyzes whether small business owners’ race, ethnicity, or gender played a role in the PPP loan amount received. In 2020 and 2021, non-White-, Hispanic-, and female-owned small businesses received smaller PPP loans than their business counterparts of the same size. Larger companies displayed increased discrepancies in loan amounts. From 2020 to 2021, disparities among non-White business owners decreased; however, female and Hispanic owners continued to receive less in PPP loans than male and non-Hispanic owners. Lee bounds estimates show that female-owned businesses in rural counties received smaller PPP loans per employee than female-owned businesses in urban counties. Structural interviews with PPP loan recipients in Northeast Ohio showed that businesses receiving smaller loan amounts had more difficulties and less knowledge about the loan application process compared to larger loans recipients.
{"title":"Impact of Race, Ethnicity, and Gender on the SBA Paycheck Protection Program (PPP) Loan Amounts","authors":"I. Demko, A. Sant’Anna","doi":"10.1177/08912424231171847","DOIUrl":"https://doi.org/10.1177/08912424231171847","url":null,"abstract":"The Paycheck Protection Program helped to preserve employment relationships during the sudden shutdown of economic activity due to the COVID-19 pandemic. This paper analyzes whether small business owners’ race, ethnicity, or gender played a role in the PPP loan amount received. In 2020 and 2021, non-White-, Hispanic-, and female-owned small businesses received smaller PPP loans than their business counterparts of the same size. Larger companies displayed increased discrepancies in loan amounts. From 2020 to 2021, disparities among non-White business owners decreased; however, female and Hispanic owners continued to receive less in PPP loans than male and non-Hispanic owners. Lee bounds estimates show that female-owned businesses in rural counties received smaller PPP loans per employee than female-owned businesses in urban counties. Structural interviews with PPP loan recipients in Northeast Ohio showed that businesses receiving smaller loan amounts had more difficulties and less knowledge about the loan application process compared to larger loans recipients.","PeriodicalId":47367,"journal":{"name":"Economic Development Quarterly","volume":"37 1","pages":"211 - 229"},"PeriodicalIF":1.5,"publicationDate":"2023-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47651340","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-01Epub Date: 2023-03-20DOI: 10.1177/08912424231163151
Chun Song, Lionel J Beaulieu, Indraneel Kumar, Roberto Gallardo
The COVID-19 pandemic may have spurred automation, especially in critical occupations. This article explores the potential of each detailed Standard Occupational Classification System (SOC) occupation being automated due to COVID-19. The authors explore two key elements of each occupation: its exposure to diseases such as COVID-19 and the probability of that occupation being automated. The results reveal that food preparation, service, and cleaning-related occupations have a higher chance of pandemic-induced automation. Using monthly U.S. job postings from 2016 to 2021, the estimates show that the potential pandemic-induced automation is associated with a statistically significant decrease in job postings. A higher Automation Index is associated with fewer job postings since the pandemic. Such trends remain robust after accounting for posting duration and excluding health-related occupations. These findings contribute to the early assessment of the impact of COVID-19 on the potential integration of automation in the labor force and offer insights into building a resilient and labor-centric post-pandemic labor market.
{"title":"COVID-19-Induced Automation: An Exploratory Study of Critical Occupations.","authors":"Chun Song, Lionel J Beaulieu, Indraneel Kumar, Roberto Gallardo","doi":"10.1177/08912424231163151","DOIUrl":"10.1177/08912424231163151","url":null,"abstract":"<p><p>The COVID-19 pandemic may have spurred automation, especially in critical occupations. This article explores the potential of each detailed Standard Occupational Classification System (SOC) occupation being automated due to COVID-19. The authors explore two key elements of each occupation: its exposure to diseases such as COVID-19 and the probability of that occupation being automated. The results reveal that food preparation, service, and cleaning-related occupations have a higher chance of pandemic-induced automation. Using monthly U.S. job postings from 2016 to 2021, the estimates show that the potential pandemic-induced automation is associated with a statistically significant decrease in job postings. A higher Automation Index is associated with fewer job postings since the pandemic. Such trends remain robust after accounting for posting duration and excluding health-related occupations. These findings contribute to the early assessment of the impact of COVID-19 on the potential integration of automation in the labor force and offer insights into building a resilient and labor-centric post-pandemic labor market.</p>","PeriodicalId":47367,"journal":{"name":"Economic Development Quarterly","volume":"37 1","pages":"183-197"},"PeriodicalIF":1.7,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10028686/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43370883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-24DOI: 10.1177/08912424231168331
Brett Barkley, Mark Schweitzer
Disparities in access to small business financing through loan denials and discouragement are estimated using Federal Reserve Small Business Credit Survey data from 2016 to 2020. Substantial differences in credit denial rates continue to exist despite the growth of fintech lenders, which prior research has shown to have expanded the set of small businesses receiving credit. The pandemic period brought many direct additional changes to the business and lending environment, but these results show no evidence of trends in credit access over this period. The Paycheck Protection Program loans represented unprecedented support for small businesses that was not dependent on the credit worthiness of businesses, but minority-owned businesses are estimated to have received a smaller fraction of the funds that they applied for from the program in its 2020 implementation.
{"title":"Credit Availability for Minority Business Owners in an Evolving Credit Environment","authors":"Brett Barkley, Mark Schweitzer","doi":"10.1177/08912424231168331","DOIUrl":"https://doi.org/10.1177/08912424231168331","url":null,"abstract":"Disparities in access to small business financing through loan denials and discouragement are estimated using Federal Reserve Small Business Credit Survey data from 2016 to 2020. Substantial differences in credit denial rates continue to exist despite the growth of fintech lenders, which prior research has shown to have expanded the set of small businesses receiving credit. The pandemic period brought many direct additional changes to the business and lending environment, but these results show no evidence of trends in credit access over this period. The Paycheck Protection Program loans represented unprecedented support for small businesses that was not dependent on the credit worthiness of businesses, but minority-owned businesses are estimated to have received a smaller fraction of the funds that they applied for from the program in its 2020 implementation.","PeriodicalId":47367,"journal":{"name":"Economic Development Quarterly","volume":"96 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135277130","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-06DOI: 10.1177/08912424231164387
Benjamin Armstrong, E. Reynolds
High-wage regions have frequently been models for economic development policy. However, these places have also been more likely to experience a “hollowing out” of the middle of the labor market, whereby college-educated residents experience high-wage growth, while residents without a college degree do not. This paper studies regions where—in contrast to hollowing out—the share of middle-wage jobs has grown since 1980. Its aim is to understand how—if at all—the characteristics of these regions could suggest a model of economic development that prioritizes opportunities for noncollege graduates. The authors find that regions with a growing share of middle-wage jobs have been associated with higher levels of upward mobility and wage growth for workers without a college degree. These places, such as Wausau, Wisconsin, and Manhattan, Kansas, are associated with higher local school performance and have experienced comparatively high growth in production jobs.
{"title":"A Middle Model of Economic Development? Revisiting the Economic Geography of Middle-Wage Occupations in the United States","authors":"Benjamin Armstrong, E. Reynolds","doi":"10.1177/08912424231164387","DOIUrl":"https://doi.org/10.1177/08912424231164387","url":null,"abstract":"High-wage regions have frequently been models for economic development policy. However, these places have also been more likely to experience a “hollowing out” of the middle of the labor market, whereby college-educated residents experience high-wage growth, while residents without a college degree do not. This paper studies regions where—in contrast to hollowing out—the share of middle-wage jobs has grown since 1980. Its aim is to understand how—if at all—the characteristics of these regions could suggest a model of economic development that prioritizes opportunities for noncollege graduates. The authors find that regions with a growing share of middle-wage jobs have been associated with higher levels of upward mobility and wage growth for workers without a college degree. These places, such as Wausau, Wisconsin, and Manhattan, Kansas, are associated with higher local school performance and have experienced comparatively high growth in production jobs.","PeriodicalId":47367,"journal":{"name":"Economic Development Quarterly","volume":" ","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-04-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43202544","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-28DOI: 10.1177/08912424231165004
N. Theodore
Day-labor worker centers are labor market intermediaries that target their interventions to underregulated segments of residential construction and allied industries. As sites of rulemaking in the informal economy, worker centers raise standards and enforce worker protections in sectors that lie beyond the reach of government enforcement. In addition to strengthening wage floors, worker centers are now acting as “disaster recovery hubs” that can help local communities following natural disasters. As the economy was shuttered by the COVID-19 pandemic, worker centers pivoted to provide emergency assistance to unemployed workers. This paper assesses these two emerging areas of worker center activity through a survey of disaster-recovery workers in Houston in the aftermath of Hurricane Harvey and a national survey of worker centers that administered emergency assistance to immigrant workers during the COVID-19 pandemic. These case studies reveal promising new interventions that could lead to more inclusive forms of workforce development.
{"title":"Day-Labor Worker Centers: Advancing New Models of Equity and Inclusion in the Informal Economy","authors":"N. Theodore","doi":"10.1177/08912424231165004","DOIUrl":"https://doi.org/10.1177/08912424231165004","url":null,"abstract":"Day-labor worker centers are labor market intermediaries that target their interventions to underregulated segments of residential construction and allied industries. As sites of rulemaking in the informal economy, worker centers raise standards and enforce worker protections in sectors that lie beyond the reach of government enforcement. In addition to strengthening wage floors, worker centers are now acting as “disaster recovery hubs” that can help local communities following natural disasters. As the economy was shuttered by the COVID-19 pandemic, worker centers pivoted to provide emergency assistance to unemployed workers. This paper assesses these two emerging areas of worker center activity through a survey of disaster-recovery workers in Houston in the aftermath of Hurricane Harvey and a national survey of worker centers that administered emergency assistance to immigrant workers during the COVID-19 pandemic. These case studies reveal promising new interventions that could lead to more inclusive forms of workforce development.","PeriodicalId":47367,"journal":{"name":"Economic Development Quarterly","volume":" ","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47642177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-27DOI: 10.1177/08912424231161593
Taner Osman
Although references to an urban resurgence are pervasive, on average, the share of regional jobs found in central business district (CBD) areas has fallen since the 1990s. Yet, this fact masks great variation in the performance of CBD economies. In several metropolitan regions, the share of jobs found in CBD areas increased over this period. This paper seeks to understand the factors that explain such variation. Relying on a panel of metropolitan regions for the period 1995 to 2019, the paper finds that, as a regional economy increasingly comprises tasks that are more cognitive in nature, the share of its jobs found in CBD areas increases. Although the “great divergence” has been linked to an increasing dispersion of incomes, health care outcomes, and cultural identities among regions, the paper's findings suggest it may also be associated with divergent economic performance among CBD areas.
{"title":"Understanding Divergence in the Performance of Central Business District Economies Among U.S. Metropolitan Regions, 1995–2019","authors":"Taner Osman","doi":"10.1177/08912424231161593","DOIUrl":"https://doi.org/10.1177/08912424231161593","url":null,"abstract":"Although references to an urban resurgence are pervasive, on average, the share of regional jobs found in central business district (CBD) areas has fallen since the 1990s. Yet, this fact masks great variation in the performance of CBD economies. In several metropolitan regions, the share of jobs found in CBD areas increased over this period. This paper seeks to understand the factors that explain such variation. Relying on a panel of metropolitan regions for the period 1995 to 2019, the paper finds that, as a regional economy increasingly comprises tasks that are more cognitive in nature, the share of its jobs found in CBD areas increases. Although the “great divergence” has been linked to an increasing dispersion of incomes, health care outcomes, and cultural identities among regions, the paper's findings suggest it may also be associated with divergent economic performance among CBD areas.","PeriodicalId":47367,"journal":{"name":"Economic Development Quarterly","volume":"37 1","pages":"143 - 153"},"PeriodicalIF":1.5,"publicationDate":"2023-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43566849","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-20DOI: 10.1177/08912424231163485
Mark K. Cassell, M. Schwan, Marc Schneiberg
How do differences in bank or lending institution type shape access to credit for small businesses in poor and/or minority communities in the United States? Banking systems are populated by lenders that differ qualitatively in their organizational forms, business models and missions, and that connect—or fail to connect—to small business borrowers and local communities in divergent ways. The authors analyze data on the Paycheck Protection Program and its over 11 million loans made to businesses across the United States to trace how these differences shaped the flow of credit to poor and minority communities. The authors find substantial differences across seven lender types, both in their propensities to avoid or lend to firms in traditionally marginalized communities, and in how much they lend to poor and majority–minority communities relative to their nonpoor and majority White counterparts. From this variety within American banking, the authors identify two potential pathways for more inclusive lending.
{"title":"Bank Types, Inclusivity, and Payroll Protection Program Lending During COVID-19","authors":"Mark K. Cassell, M. Schwan, Marc Schneiberg","doi":"10.1177/08912424231163485","DOIUrl":"https://doi.org/10.1177/08912424231163485","url":null,"abstract":"How do differences in bank or lending institution type shape access to credit for small businesses in poor and/or minority communities in the United States? Banking systems are populated by lenders that differ qualitatively in their organizational forms, business models and missions, and that connect—or fail to connect—to small business borrowers and local communities in divergent ways. The authors analyze data on the Paycheck Protection Program and its over 11 million loans made to businesses across the United States to trace how these differences shaped the flow of credit to poor and minority communities. The authors find substantial differences across seven lender types, both in their propensities to avoid or lend to firms in traditionally marginalized communities, and in how much they lend to poor and majority–minority communities relative to their nonpoor and majority White counterparts. From this variety within American banking, the authors identify two potential pathways for more inclusive lending.","PeriodicalId":47367,"journal":{"name":"Economic Development Quarterly","volume":" ","pages":""},"PeriodicalIF":1.5,"publicationDate":"2023-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48077384","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-09DOI: 10.1177/08912424231158051
Adam Scavette
The designation of enterprise zones is a place-based policy that seeks to revitalize economically blighted areas. The literature on place-based policies has found mixed results regarding their effects on local payroll employment. This paper examines the causal effects of five of New Jersey's Urban Enterprise Zones (UEZs) on local payroll employment: Bayonne, Gloucester City, New Brunswick, Roselle Borough, and The Wildwoods (Wildwood City, Wildwood Crest, North Wildwood, and West Wildwood). All were designated as UEZs by the state in the 2000s, and none have been previously evaluated in the academic literature. The program offers reduced local sales tax, tax credits for newly hired employees, subsidized unemployment insurance costs, worker training assistance, and tax-free purchases on capital equipment and facilities. A synthetic control approach is used with the industrial composition of local firms and poverty rate as the covariate group and no impact of UEZ status on local employment in the treatment periods of the five areas is found. These results suggest that enterprise zones may not be effective job creators for treated areas, particularly for those zones that were added long after the program's inception.
{"title":"The Impact of New Jersey's Urban Enterprise Zones on Local Employment: A Synthetic Control Approach","authors":"Adam Scavette","doi":"10.1177/08912424231158051","DOIUrl":"https://doi.org/10.1177/08912424231158051","url":null,"abstract":"The designation of enterprise zones is a place-based policy that seeks to revitalize economically blighted areas. The literature on place-based policies has found mixed results regarding their effects on local payroll employment. This paper examines the causal effects of five of New Jersey's Urban Enterprise Zones (UEZs) on local payroll employment: Bayonne, Gloucester City, New Brunswick, Roselle Borough, and The Wildwoods (Wildwood City, Wildwood Crest, North Wildwood, and West Wildwood). All were designated as UEZs by the state in the 2000s, and none have been previously evaluated in the academic literature. The program offers reduced local sales tax, tax credits for newly hired employees, subsidized unemployment insurance costs, worker training assistance, and tax-free purchases on capital equipment and facilities. A synthetic control approach is used with the industrial composition of local firms and poverty rate as the covariate group and no impact of UEZ status on local employment in the treatment periods of the five areas is found. These results suggest that enterprise zones may not be effective job creators for treated areas, particularly for those zones that were added long after the program's inception.","PeriodicalId":47367,"journal":{"name":"Economic Development Quarterly","volume":"37 1","pages":"127 - 142"},"PeriodicalIF":1.5,"publicationDate":"2023-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46685336","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-27DOI: 10.1177/08912424231157693
T. Lester, Matthew D. Wilson
The Paycheck Protection Program (PPP), with spending of nearly $800 billion, was the largest component in the United States’ economic response to the COVID-19 pandemic. The intention of the program was to provide emergency economic relief to small businesses and help them keep employees on their payroll. Critics of the PPP program feared that its reliance on private lending institutions would exacerbate racial and spatial injustice by mirroring existing inequalities in access to capital by race and across space. The authors compare PPP to existing residential and small business lending patterns, and test whether Black and Latinx neighborhoods were disadvantaged in receiving PPP loans. The authors find that majority Black and Latinx neighborhoods received disproportionately fewer PPP loans than majority White and Asian neighborhoods, but that policy changes during the third phase of the PPP resulted in better targeting of lending to lower-income areas, minority borrowers, and smaller businesses.
{"title":"The Racial and Spatial Impacts of the Paycheck Protection Program","authors":"T. Lester, Matthew D. Wilson","doi":"10.1177/08912424231157693","DOIUrl":"https://doi.org/10.1177/08912424231157693","url":null,"abstract":"The Paycheck Protection Program (PPP), with spending of nearly $800 billion, was the largest component in the United States’ economic response to the COVID-19 pandemic. The intention of the program was to provide emergency economic relief to small businesses and help them keep employees on their payroll. Critics of the PPP program feared that its reliance on private lending institutions would exacerbate racial and spatial injustice by mirroring existing inequalities in access to capital by race and across space. The authors compare PPP to existing residential and small business lending patterns, and test whether Black and Latinx neighborhoods were disadvantaged in receiving PPP loans. The authors find that majority Black and Latinx neighborhoods received disproportionately fewer PPP loans than majority White and Asian neighborhoods, but that policy changes during the third phase of the PPP resulted in better targeting of lending to lower-income areas, minority borrowers, and smaller businesses.","PeriodicalId":47367,"journal":{"name":"Economic Development Quarterly","volume":"37 1","pages":"243 - 258"},"PeriodicalIF":1.5,"publicationDate":"2023-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44936130","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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