{"title":"Finance and intergenerational mobility: Evidence from US banking reforms","authors":"","doi":"10.1016/j.jebo.2024.106683","DOIUrl":null,"url":null,"abstract":"<div><p>We investigate the impact of US banking industry deregulation on intergenerational mobility. In order to do so, we use a quasi-natural experimental research design to investigate how a change in state level bank competition (following geographic deregulation) affects the intergenerational mobility of individuals born to (poorer) families at the lower end of the income distribution. We find that individuals born to poorer families who spend their first years as adults in an area with a more competitive banking system, experience higher mobility relative to counterparts located in areas characterised by lower levels of bank competition. Increased educational opportunities and entrepreneurship are important underlying factors driving the observed increases in intergenerational mobility.</p></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":null,"pages":null},"PeriodicalIF":2.3000,"publicationDate":"2024-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167268124002798/pdfft?md5=efdb8d9ec48728895aabde84087b6907&pid=1-s2.0-S0167268124002798-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Economic Behavior & Organization","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0167268124002798","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
We investigate the impact of US banking industry deregulation on intergenerational mobility. In order to do so, we use a quasi-natural experimental research design to investigate how a change in state level bank competition (following geographic deregulation) affects the intergenerational mobility of individuals born to (poorer) families at the lower end of the income distribution. We find that individuals born to poorer families who spend their first years as adults in an area with a more competitive banking system, experience higher mobility relative to counterparts located in areas characterised by lower levels of bank competition. Increased educational opportunities and entrepreneurship are important underlying factors driving the observed increases in intergenerational mobility.
期刊介绍：
The Journal of Economic Behavior and Organization is devoted to theoretical and empirical research concerning economic decision, organization and behavior and to economic change in all its aspects. Its specific purposes are to foster an improved understanding of how human cognitive, computational and informational characteristics influence the working of economic organizations and market economies and how an economy structural features lead to various types of micro and macro behavior, to changing patterns of development and to institutional evolution. Research with these purposes that explore the interrelations of economics with other disciplines such as biology, psychology, law, anthropology, sociology and mathematics is particularly welcome.
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