Lending patterns in poor neighborhoods
Concentrated poverty has been said to impose a double burden on those that confront it. In addition to an individual's own financial constraints, institutions and social networks of poor neighborhoods can further limit access to quality services and resources for those that live there. This study contributes to the characterization of subprime lending in poor neighborhoods by including a spatial dimension to the analysis, in an attempt to capture social – endogenous and exogenous interaction – effects differences in poor and less poor neighborhoods. The analysis is applied to 2004–2006 census tract level data in Cuyahoga County, home to Cleveland, OH, a region that features urban neighborhoods highly segregated by income and race. The patterns found in poor neighborhoods suggest stronger social effects inducing subprime lending in comparison to less poor neighborhoods.
Volume (Year): 95 (2013)
Issue (Month): C ()
|Contact details of provider:|| Web page: http://www.elsevier.com/locate/jebo|
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.:
- J. Paul Elhorst & Sandy Fréret, 2009. "Evidence Of Political Yardstick Competition In France Using A Two-Regime Spatial Durbin Model With Fixed Effects," Journal of Regional Science, Wiley Blackwell, vol. 49(5), pages 931-951.
- Lawrence E. Blume & William A. Brock & Steven N. Durlauf & Yannis M. Ioannides, 2010.
"Identification of Social Interactions,"
Discussion Papers Series, Department of Economics, Tufts University
0754, Department of Economics, Tufts University.
- Blume, Lawrence E. & Brock, William A. & Durlauf, Steven N. & Ioannides, Yannis M., 2010. "Identification of Social Interactions," Economics Series 260, Institute for Advanced Studies.
- Atif Mian & Amir Sufi, 2009. "The Consequences of Mortgage Credit Expansion: Evidence from the U.S. Mortgage Default Crisis," The Quarterly Journal of Economics, Oxford University Press, vol. 124(4), pages 1449-1496.
- Charles F. Manski, 2000. "Economic Analysis of Social Interactions," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 115-136, Summer.
- Charles F. Manski, 2000. "Economic Analysis of Social Interactions," NBER Working Papers 7580, National Bureau of Economic Research, Inc.
- DeanS. Karlan, 2007. "Social connections and group banking," Economic Journal, Royal Economic Society, vol. 117(517), pages 52-84, 02.
- Karlan, Dean S., 2007. "Social Connections and Group Banking," CEPR Discussion Papers 6194, C.E.P.R. Discussion Papers.
- Brown, Jason P. & Florax, Raymond J. G. M. & McNamara, Kevin T., 2009. "Determinants of Investment Flows in U.S. Manufacturing?," The Review of Regional Studies, Southern Regional Science Association, vol. 39(3), pages 269-286.
- Jason P. Brown & Raymond J.G.M. Florax & Kevin T. McNamara, 2009. "Determinants Of Investme??T Flows In U.S. Manufacturing," Working Papers 09-10, Purdue University, College of Agriculture, Department of Agricultural Economics.
- Giorgio Topa, 2001. "Social Interactions, Local Spillovers and Unemployment," Review of Economic Studies, Oxford University Press, vol. 68(2), pages 261-295.
- Topa, Giorgio, 1997. "Social Interactions, Local Spillovers and Unemployment," Working Papers 97-17, C.V. Starr Center for Applied Economics, New York University.
- Patricia A. McCoy, 2007. "The Home Mortgage Disclosure Act: A Synopsis and Recent Legislative History," Journal of Real Estate Research, American Real Estate Society, vol. 29(4), pages 391-398.
- Rajiv Sethi & Rohini Somanathan, 2001. "Racial Income Disparities and the Measurement of Segregation," Urban/Regional 0107001, EconWPA.
- Jane Cooley Fruehwirth, 2014. "Can Achievement Peer Effect Estimates Inform Policy? A View from Inside the Black Box," The Review of Economics and Statistics, MIT Press, vol. 96(3), pages 514-523, July. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:eee:jeborg:v:95:y:2013:i:c:p:197-206. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.