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Factors affecting the location of payday lending and traditional banking services in North Carolina

Author

Listed:
  • Burkey, Mark L.
  • Simkins, Scott P.

Abstract

Payday lending is a relatively new and fast growing segment of the “fringe banking” industry. This paper offers a comparative, descriptive analysis of the location patterns of traditional banks and payday lenders. Utilizing a dataset at the Zip Code Tabulation Area level in North Carolina, we perform negative binomial regressions and find evidence supporting some, but not all common assertions about the location patterns of both types of institutions. A key finding is that after controlling for many covariates, race is still a powerful predictor of the locations of both banks and payday lenders.

Suggested Citation

  • Burkey, Mark L. & Simkins, Scott P., 2004. "Factors affecting the location of payday lending and traditional banking services in North Carolina," MPRA Paper 36043, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:36043
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    References listed on IDEAS

    as
    1. Cameron, A Colin & Trivedi, Pravin K, 1986. "Econometric Models Based on Count Data: Comparisons and Applications of Some Estimators and Tests," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(1), pages 29-53, January.
    2. Elizabeth Handlin & Doug Tillett, 2003. "Tapping the potential of the unbanked - private sector interest increases," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Dec.
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    More about this item

    Keywords

    payday lending; fringe banking; location analysis;
    All these keywords.

    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • L89 - Industrial Organization - - Industry Studies: Services - - - Other
    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models

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