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The Racial Political Economy of Bank Entry Restrictions

In: Empirical Applications of the Median Voter Model

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  • James Dean

    (Western Carolina University)

Abstract

While previous research has shown that branching restrictions reduced overall credit supply, more recent research suggests that some borrowers benefitted from these restrictions as credit was kept within a community. However, the impact of unit banking on racial outcomes is still theoretically ambiguous. On the one hand, unit banks tended to favor the wealthy. Thus, branching restrictions could lead to banks not expanding into primarily Black areas, leading to many being underbanked. On the other hand, branching restrictions led to the creation of many Black-owned banks devoted to serving primarily Black areas. Using data from the 1920s, I empirically test these competing arguments using an empirical median voter model.

Suggested Citation

  • James Dean, 2025. "The Racial Political Economy of Bank Entry Restrictions," Studies in Public Choice, in: Joshua Hall & Katherine Starr (ed.), Empirical Applications of the Median Voter Model, chapter 0, pages 105-114, Springer.
    • Handle: RePEc:spr:stpchp:978-3-031-87179-5_6
    DOI: 10.1007/978-3-031-87179-5_6
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