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Identification of Local Capital Markets for Policy Research

Author

Listed:
  • Glen Rogers

    (University of Wisconsin-Madison)

  • Ron Schaffer

    (University of Wisconsin-Madison)

  • Glen Pulver

    (University of Wisconsin-Madison)

Abstract

This paper reports the results of a study seeking to identify appropriate geographic units of analysis for research on bank credit for small rural non-farm businesses. Establishment of many rural banks in a historical period of local transportation modes, trade patterns, and state regulatory jurisdiction has left an institutional legacy of geographically small rural bank markets. Availability of secondary data at the state and county level, together with this historical legacy, have led in the past to adoption of county boundaries rather than a service area, as boundaries of local rural credit markets. Frequently this assumption of counties as appropriate units of analysis is not based on observed market patterns. The study being reported addresses the research question of whether local geographic credit markets are better approximated by county boundaries or by the subcounty community units of analysis which lenders reported as their market. Data on 1986 lender portfolio distribution, lending experience and market growth are collected from personal interviews of all formal lenders in four Wisconsin rural counties.

Suggested Citation

  • Glen Rogers & Ron Schaffer & Glen Pulver, 1988. "Identification of Local Capital Markets for Policy Research," The Review of Regional Studies, Southern Regional Science Association, vol. 18(1), pages 55-66, Winter.
    • Handle: RePEc:rre:publsh:v18:y:1988:i:1:p:55-66
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    References listed on IDEAS

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    1. George Hall & Robert C. Holland & Tynan Smith & Wm. Paul Smith, 1964. "Research into banking structure and competition," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Nov, pages 1383-1399.
    2. John D. Wolken, 1984. "Geographic market delineation : a review of the literature," Staff Studies 140, Board of Governors of the Federal Reserve System (U.S.).
    3. Ederington, Louis H & Skogstad, Samuel L, 1977. "Measurement of Banking Competition and Geographic Markets: The Market for Checking Account Services," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 9(3), pages 469-482, August.
    4. Dale K. Osborne & Jeanne Wendel, 1978. "The main fault with traditional research on banking competition," Working Papers 7805, Federal Reserve Bank of Dallas.
    5. Paul A. Meyer, 1967. "Price Discrimination, Regional Loan Rates, And The Structure Of The Banking Industry," Journal of Finance, American Finance Association, vol. 22(1), pages 37-48, March.
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    Cited by:

    1. Glenn Rogers & Ron Shaffer & Glen Pulver, 1990. "The Adequacy of Capital Markets for Rural Nonfarm Businesses," The Review of Regional Studies, Southern Regional Science Association, vol. 20(3), pages 23-32, Fall.
    2. Patrick J. Sullivan & William M. Herr, 1990. "The Effects of FmHa Guaranteed Farm Loans on Rural Credit Markets," The Review of Regional Studies, Southern Regional Science Association, vol. 20(2), pages 50-59, Spring.

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