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US national banks and local economic fragility

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journal contribution
posted on 2023-05-05, 15:48 authored by Giovanni Calice, Yong Kyu Gam

We 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 Research

Volume

63

Issue

3

Pages

313-338

Publisher

Springer

Version

  • VoR (Version of Record)

Rights holder

© The Authors

Publisher 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

2022-03-23

Publication date

2022-04-13

Copyright date

2022

ISSN

0920-8550

eISSN

1573-0735

Language

  • en

Depositor

Dr Giovanni Calice. Deposit date: 23 April 2022

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