Racial violence, political representation, and the threat to banks as open access institutions

IF 3.6 2区 经济学 Q1 BUSINESS, FINANCE
Virginia Traweek , Malcolm Wardlaw
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Abstract

Using detailed depositor arrival data from the Freedman’s Savings and Trust, we examine how the failure to prevent racial violence impacts bank participation. From 1866 to 1873, we find that events of racial violence perpetrated against Black Americans decrease new account openings at branches in the same region by 25% relative to other branches in the 30 days after the event. Alternatively, events that increased political representation and protections increase the relative arrival of new depositors at the bank by around 50% for the affected branches. We also show that those who opened accounts in the wake of a violent event were less likely to close an account before the bank’s eventual failure, suggesting that those who were resistant to the impact of political violence may have tragically been more exposed to other institutional failures.
种族暴力,政治代表,以及对银行作为开放机构的威胁
利用弗里德曼储蓄和信托公司的详细存款人到达数据,我们研究了未能防止种族暴力如何影响银行参与。从1866年到1873年,我们发现针对美国黑人的种族暴力事件在事件发生后30天内,同一地区分行的新开户数量相对于其他分行减少了25%。另一方面,增加政治代表性和保护的事件会使受影响分支机构的新存款人相对增加约50%。我们还表明,那些在暴力事件发生后开立账户的人不太可能在银行最终倒闭之前关闭账户,这表明那些对政治暴力的影响有抵抗力的人可能更不幸地暴露在其他制度失败的影响下。
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来源期刊
CiteScore
6.40
自引率
5.40%
发文量
262
期刊介绍: The Journal of Banking and Finance (JBF) publishes theoretical and empirical research papers spanning all the major research fields in finance and banking. The aim of the Journal of Banking and Finance is to provide an outlet for the increasing flow of scholarly research concerning financial institutions and the money and capital markets within which they function. The Journal''s emphasis is on theoretical developments and their implementation, empirical, applied, and policy-oriented research in banking and other domestic and international financial institutions and markets. The Journal''s purpose is to improve communications between, and within, the academic and other research communities and policymakers and operational decision makers at financial institutions - private and public, national and international, and their regulators. The Journal is one of the largest Finance journals, with approximately 1500 new submissions per year, mainly in the following areas: Asset Management; Asset Pricing; Banking (Efficiency, Regulation, Risk Management, Solvency); Behavioural Finance; Capital Structure; Corporate Finance; Corporate Governance; Derivative Pricing and Hedging; Distribution Forecasting with Financial Applications; Entrepreneurial Finance; Empirical Finance; Financial Economics; Financial Markets (Alternative, Bonds, Currency, Commodity, Derivatives, Equity, Energy, Real Estate); FinTech; Fund Management; General Equilibrium Models; High-Frequency Trading; Intermediation; International Finance; Hedge Funds; Investments; Liquidity; Market Efficiency; Market Microstructure; Mergers and Acquisitions; Networks; Performance Analysis; Political Risk; Portfolio Optimization; Regulation of Financial Markets and Institutions; Risk Management and Analysis; Systemic Risk; Term Structure Models; Venture Capital.
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