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Banking the unbanked: Evidence from the Spanish Banking Expansion Plan

Listed author(s):
  • Pere Arqué-castells

    ()

    (Northwestern University (Searle Center on Law, Regulation and Economic Growth) & Barcelona Institute of Economics (IEB))

  • Elisabet Viladecans-Marsal

    ()

    (Universitat de Barcelona & IEB)

What are the benefits of lifting structural impediments to banking the unbanked? We address this question by studying the Spanish Banking Expansion Plan 1964-1974, a program aimed at extending banking services into unbanked municipalities after decades of banking status quo. We exploit the quasi-experimental nature of the program to identify its effects. Selected municipalities experienced a 9% increase in the number of workers per inhabitant. This effect was driven by the lending channel, primarily through the provision of liquidity and working capital, though not through the savings channel.

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File URL: http://www.ieb.ub.edu/phocadownload/documentostrabajo/2016/Doc2016-24.pdf
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Paper provided by Institut d'Economia de Barcelona (IEB) in its series Working Papers with number 2016/24.

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Length: 34 pages
Date of creation: 2016
Handle: RePEc:ieb:wpaper:doc2016-24
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