Small firm credit market discrimination, small business administration guaranteed lending, and local market economic performance

Annals of the American Academy of Political and Social Science

Volumn 612, Issue 2, 2007, Pages 73-94

  Craig, Ben R ^a   Jackson, William E ^b   Thomson, James B ^a  

^a FEDERAL RESERVE BANK OF CLEVELAND   (United States)

^b UNIVERSITY OF ALABAMA   (United States)

Author keywords

Credit rationing; Discrimination; Employment rates; Loan guarantees; Small firm credit markets

Indexed keywords

EID: 34548640628     PISSN: 00027162     EISSN: 15523349     Source Type: Journal    
DOI: 10.1177/0002716207303579     Document Type: Article

References (25)

1. Becker, G.S. 1971. The economics of discrimination. 2 nd ed. Chicago: University of Chicago Press.
2. Berger, A.N. 1995. The profitstructure relationship in banking-tests of market-power and efficient-structure hypotheses. Journal of Money, Credit, and Banking 27: 404-31.
3. Berger, A.N., and T.H. Hannon. 1989. The price-concentration relationship in banking. Review of Economics and Statistics 71: 291-99.
4. - -. 1995. Relationship lending and lines of credit in small firm finance. Journal of Business 68 (3). 351-81.
5. Blanchflower, D.G., P.B. Levine, and D.J. Zimmerman. 2003. Discrimination in the small business credit market. Review of Economics and Statistics 85 (4). 930-43.
6. Calem, P.S., and G.A. Carlino. 1991. The concentration/conduct relationship in bank deposit markets. Review of Economics and Statistics 73: 268-76.
7. Cavalluzzo, K.S., L.C. Cavalluzzo, and J.D. Wolken. 2002. Competition, small business financing, and discrimination: Evidence from a new survey. Journal of Business 75 (4). 641-79.
8. Craig, Ben R., William E. Jackson III, and James B. Thomson. 2007. Small firm finance, credit rationing, and the impact of SBA guaranteed lending on local economic growth. Journal of Small Business Management 47 (1). 116-132.
9. Guiso, Luigi, Paola Sapienza, and Luigi Zingales. 2004. Does local financial development matter? Quarterly Journal of Economics 119: 929-69.
10. Jackson, W.E., III. 1992 a. Is the market well defined in bank merger and acquisition analysis ? Review of Economics and Statistics 74: 655-61.
11. - -. 1992 b. The price-concentration relationship in banking: A comment. Review of Economics and Statistics 74: 373-76.
12. Jayaratne, Jith, and Philip Strahan. 1996. The finance-growth nexus: Evidence from bank branch deregulation. Quarterly Journal of Economics 111 (3). 639-70.
13. Kane, Edward J., and Burton G. Malkiel. 1965. Bank portfolio allocation, deposit variability, and the availability doctrine. Quarterly Journal of Economics 79 (1). 113-34.
14. King, Robert G., and Ross Levine. 1993 a. Finance and growth: Schumpeter might be right. Quarterly Journal of Economics 108 (3). 717-37.
15. - -. 1993 b. Finance, entrepreneurship, and growth: Theory and evidence. Journal of Monetary Economics 32 (3). 513-42.
16. Lang, W.W., and L.I. Nakamura. 1993. A model of redlining. Journal of Urban Economics 33: 233-38.
17. Petersen, Mitchell, A., and Raghuram G. Rajan. 1994. The benefits of lending relationships: Evidence from small business data. Journal of Finance 49 (1). 3-37.
18. - -. 1995. The effect of credit market competition on lending relationships. Quarterly Journal of Economics 110 (2). 407-43.
19. Rajan, Raghuram G., and Luigi Zingales. 1998. Financial dependence and growth. American Economic Review 88 (3). 559-86.
20. Robinson, Joan. 1952. The generalization of the general theory: The rate of interest and other essays. London: Macmillan.
21. Schumpeter, Joseph. 1911. A theory of economic development. Cambridge, MA: Harvard University Press.
22. Shaffer, Sherrill. 1994. Bank competition in concentrated markets. In Business review, 3-16. Philadelphia: Federal Reserve Bank of Philadelphia.
23. - -. 2004. Patterns of competition in banking. Journal of Economics and Business 56: 287-313.
24. Small Business Administration (SBA). 2005. Small and micro business lending for 2003-2004. Report no. 266, November. Washington, DC: U.S. Small Business Administration, Office of Advocacy.
25. Stiglitz, Joseph E., and Andrew Weiss. 1981. Credit rationing in markets with imperfect information. American Economic Review 71 (3). 393-410.