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Financial Evolution in Core and Peripheral Areas: Tracking Ohio's Metropolitan Experience


  • Kozlowski, Paul J.


The wave of mergers, acquisitions and consolidations in the financial industry since 1994 changed the spatial environment. This paper investigates features of core and peripheral metropolitan areas in Ohio. From a spatial perspective, the Cleveland metropolitan area possesses financial characteristics more closely matched to those of a high-end benchmark financial- core such as Charlotte, North Carolina than to those of medium-size MSAs within the state. Findings suggest that medium-size MSAs are unlikely to be financial-core areas and that they are not evolving in that direction. Although peripheral areas lack a comparative advantage for developing depth and breath of financial services and are subject to a retailing function from large out-of-market institutions, there was no explicit evidence of funds drainage from medium- size peripheral areas because of compliance with the Community Reinvestment Act.

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  • Kozlowski, Paul J., 2006. "Financial Evolution in Core and Peripheral Areas: Tracking Ohio's Metropolitan Experience," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 36(1).
  • Handle: RePEc:ags:jrapmc:132310

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    References listed on IDEAS

    1. Collender, Robert N. & Shaffer, Sherrill, 2003. "Local bank office ownership, deposit control, market structure, and economic growth," Journal of Banking & Finance, Elsevier, vol. 27(1), pages 27-57, January.
    2. Mark G. Guzman, 2000. "The economic impact of bank structure: a review of recent literature," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q2, pages 11-25.
    3. Kozlowski, Paul J., 1999. "Financial Analysis After the Riegle-Neal Interstate Banking and Branching Efficiency Act," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 29(1).
    4. Jith Jayaratne & Philip E. Strahan, 1997. "The benefits of branching deregulation," Economic Policy Review, Federal Reserve Bank of New York, issue Dec, pages 13-29.
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    Financial Economics;


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