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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

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  • Wheatley, W. Parker

    (St. Johns University)

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    Abstract

    Using data for Mississippi, this paper revisits Burkey and Simkins' (2004) work on factors determining the number of payday lenders and banks. With data at two levels of geographic aggregation, the paper discovers whether empirical results are robust and allows for uncertainty in geographic definition of markets. Demand factors of population, income, and wealth have important impacts. Percentage of population with college education depresses numbers of payday lenders. Evidence indicates that banks are less likely to locate in African American areas, but the results show that race is neither a positive nor a statistically significant determinant of location for payday lenders.

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    File URL: http://journal.srsa.org/ojs/index.php/RRS/article/view/214/169
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    Bibliographic Info

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

    Volume (Year): 40 (2010)
    Issue (Month): 1 ()
    Pages: 53-69

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    Handle: RePEc:rre:publsh:v:40:y:2010:i:1:p:53-69

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

    Related research

    Keywords: Bank; Banking; Firm Location; Race; Regional;

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    1. Edward C. Lawrence & Gregory Elliehausen, 2008. "A Comparative Analysis Of Payday Loan Customers," Contemporary Economic Policy, Western Economic Association International, vol. 26(2), pages 299-316, 04.
    2. 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.
    3. 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.
    4. Bekkerman, Anton & Goodwin, Barry K. & Piggott, Nicholas E., 2008. "Spatio-temporal Risk and Severity Analysis of Soybean Rust in the United States," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(3), December.
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