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Explaining Bank Failures: Deposit Insurance, Regulation, and Efficiency

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Author Info
Wheelock, David C
Wilson, Paul W

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Abstract

This paper uses micro-level historical data to examine the causes of bank failure. For state-chartered Kansas banks during 1910-28, time-to-failure is explicitly modeled using a proportional hazards framework. In addition to standard financial ratios, this study includes membership in the voluntary state deposit insurance system and a measure of technical efficiency to explain bank failure. The results indicate that deposit insurance system membership increased the probability of failure and technically inefficient banks were more likely to fail than technically efficient banks. Copyright 1995 by MIT Press.

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Publisher Info
Article provided by MIT Press in its journal Review of Economics & Statistics.

Volume (Year): 77 (1995)
Issue (Month): 4 (November)
Pages: 689-700
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Handle: RePEc:tpr:restat:v:77:y:1995:i:4:p:689-700

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Wheelock, David C & Kumbhakar, Subal C, 1995. "Which Banks Choose Deposit Insurance? Evidence of Adverse Selection and Moral Hazard in a Voluntary Insurance System," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(1), pages 186-201, February. [Downloadable!] (restricted)
  2. Allen N. Berger & Gerald A. Hanweck & David B. Humphrey, 1986. "Competitive viability in banking: scale, scope, and product mix economies," Research Papers in Banking and Financial Economics 82, Board of Governors of the Federal Reserve System (U.S.).
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  3. Espahbodi, Pouran, 1991. "Identification of problem banks and binary choice models," Journal of Banking & Finance, Elsevier, vol. 15(1), pages 53-71, February. [Downloadable!] (restricted)
  4. Charles W. Calomiris, 1989. "Deposit insurance: lessons from the record," Economic Perspectives, Federal Reserve Bank of Chicago, issue May, pages 10-30. [Downloadable!]
  5. Gerald P. O'Driscoll, 1988. "Bank Failures: The Deposit Insurance Connection," Contemporary Economic Policy, Western Economic Association International, vol. 6(2), pages 1-12, 04. [Downloadable!] (restricted)
  6. Ferrier, Gary D. & Lovell, C. A. Knox, 1990. "Measuring cost efficiency in banking : Econometric and linear programming evidence," Journal of Econometrics, Elsevier, vol. 46(1-2), pages 229-245. [Downloadable!] (restricted)
  7. Kareken, John H & Wallace, Neil, 1978. "Deposit Insurance and Bank Regulation: A Partial-Equilibrium Exposition," Journal of Business, University of Chicago Press, vol. 51(3), pages 413-38, July. [Downloadable!] (restricted)
  8. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November. [Downloadable!] (restricted)
  9. Fried, Harold O. & Knox Lovell, C. A. & Eeckaut, Philippe Vanden, 1993. "Evaluating the performance of US credit unions," Journal of Banking & Finance, Elsevier, vol. 17(2-3), pages 251-265, April. [Downloadable!] (restricted)
  10. Grabowski, Richard & Rangan, Nanda & Rezvanian, Rasoul, 1993. "Organizational forms in banking: An empirical investigation of cost efficiency," Journal of Banking & Finance, Elsevier, vol. 17(2-3), pages 531-538, April. [Downloadable!] (restricted)
  11. Mishkin, Frederic S, 1992. "An Evaluation of the Treasury Plan for Banking Reform," Journal of Economic Perspectives, American Economic Association, vol. 6(1), pages 133-53, Winter. [Downloadable!] (restricted)
  12. Gerald P. O'Driscoll, Jr., 1990. "Banking reform," Research Paper 9004, Federal Reserve Bank of Dallas. [Downloadable!]
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