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Download fileUS national banks and local economic fragility
journal contribution
posted on 2023-05-05, 15:48 authored by Giovanni CaliceGiovanni Calice, Yong Kyu GamWe examine the relationship between US national banks’ local market shares and the economic fragility of the counties in which they operate. We find that counties with national banks that have large local market shares experience a greater fluctuation in their income growth in the subsequent year. Further, an increase in income growth is more pronounced during normal times but declines significantly in a distressed market. We further find that the national banks create greater liquidity during normal times and lower liquidity in distressed times. Overall, our results indicate that national banks may expose local economies to macro-level distress.
History
School
- Business and Economics
Department
- Business
Published in
Journal of Financial Services ResearchVolume
63Issue
3Pages
313-338Publisher
SpringerVersion
- VoR (Version of Record)
Rights holder
© The AuthorsPublisher statement
This is an Open Access Article. It is published by Springer under the Creative Commons Attribution 4.0 International Licence (CC BY 4.0). Full details of this licence are available at: https://creativecommons.org/licenses/by/4.0/Acceptance date
2022-03-23Publication date
2022-04-13Copyright date
2022ISSN
0920-8550eISSN
1573-0735Publisher version
Language
- en