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Factors Affecting the Location of Payday Lending and Traditional Banking Services in North Carolina

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Author Info

  • Burkey, Mark L.

    (NC A&T State U)

  • Simkins, Scott P.

    (NC A&T State U)

Abstract

Payday lending is a relatively new and fast growing segment of the fringe banking industry. This paper offers a comparative, descriptive analysis of the location patterns of traditional banks and payday lenders. Utilizing a dataset at the Zip Code Tabulation Area level in North Carolina, we perform negative binomial regressions and find evidence supporting some, but not all common assertions about the location patterns of both types of institutions. A key finding is that after controlling for many covariates, race is still a powerful predictor of the locations of both banks and payday lenders.

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File URL: http://journal.srsa.org/ojs/index.php/RRS/article/view/86/37
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Bibliographic Info

Article provided by Southern Regional Science Association in its journal Review of Regional Studies.

Volume (Year): 34 (2004)
Issue (Month): 2 ()
Pages: 191-205

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Handle: RePEc:rre:publsh:v:34:y:2004:i:2:p:191-205

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Web page: http://www.srsa.org

Related research

Keywords: Bank; Banking; Payday Lending; Payday Lender;

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Cited by:
  1. Tony E. Smith & Marvin M. Smith & John Wackes, 2007. "Alternative financial service providers and the spatial void hypothesis," Community Affairs Discussion Paper 07-01, Federal Reserve Bank of Philadelphia.
  2. Wilson Bart J & Findlay David W. & Meehan James W. & Wellford Charissa & Schurter Karl, 2010. "An Experimental Analysis of the Demand for Payday Loans," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-31, October.
  3. Taylor J. Canann & Richard W. Evans, 2013. "Determinants of Short-term Lender Location and Interest Rates," BYU Macroeconomics and Computational Laboratory Working Paper Series 2013-06, Brigham Young University, Department of Economics, BYU Macroeconomics and Computational Laboratory.
  4. H. Damar, 2009. "Why Do Payday Lenders Enter Local Markets? Evidence from Oregon," Review of Industrial Organization, Springer, vol. 34(2), pages 173-191, March.
  5. Smith, Tony E. & Smith, Marvin M. & Wackes, John, 2008. "Alternative financial service providers and the spatial void hypothesis," Regional Science and Urban Economics, Elsevier, vol. 38(3), pages 205-227, May.
  6. Robin A. Prager, 2009. "Determinants of the locations of payday lenders, pawnshops and check-cashing outlets," Finance and Economics Discussion Series 2009-33, Board of Governors of the Federal Reserve System (U.S.).
  7. Snarr, Hal W. & Burkey, Mark L., 2006. "A Preliminary Investigation of Welfare Migration Induced by Time Limits," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 36(2).
  8. Wheatley, W. Parker, 2010. "Economic and Regional Determinants of the Location of Payday Lenders and Banking Institutions in Mississippi: Reconsidering the Role of Race and Other Factors in Firm Location," The Review of Regional Studies, Southern Regional Science Association, vol. 40(1), pages 53-69.
  9. Richard W. Evans, 2012. "Determinants of Short-term Consumer Lending Interest Rates," BYU Macroeconomics and Computational Laboratory Working Paper Series 2012-07, Brigham Young University, Department of Economics, BYU Macroeconomics and Computational Laboratory.

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