Factors Affecting the Location of Payday Lending and Traditional Banking Services in North Carolina
AbstractPayday 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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Bibliographic InfoArticle provided by Southern Regional Science Association in its journal Review of Regional Studies.
Volume (Year): 34 (2004)
Issue (Month): 2 ()
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Bank; Banking; Payday Lending; Payday Lender;
Other versions of this item:
- Burkey, Mark L. & Simkins, Scott P., 2004. "Factors affecting the location of payday lending and traditional banking services in North Carolina," MPRA Paper 36043, University Library of Munich, Germany.
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis
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- 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.
- 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.
- 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.
- 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.
- Snarr, Hal W. & Burkey, Mark L., 2006.
"A preliminary investigation of welfare migration induced by time limits,"
36228, University Library of Munich, Germany.
- 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).
- 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.
- 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.).
- 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.
- 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.
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