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Cited by 254Banking stability, regulation, efficiencyCrime Patterns and InterventionsUrban, Neighborhood, and Segregation Studies

Bank Mergers and Crime: The Real and Social Effects of Credit Market Competition

GARMAISE, MARK J., MOSKOWITZ, TOBIAS J.·2006·The Journal of Finance
DOI 10.1111/j.1540-6261.2006.00847.x
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Abstract

Using a unique sample of commercial loans and mergers between large banks, we provide micro‐level (within‐county) evidence linking credit conditions to economic development and find a spillover effect on crime. Neighborhoods that experience more bank mergers are subject to higher interest rates, diminished local construction, lower prices, an influx of poorer households, and higher property crime in subsequent years. The elasticity of property crime with respect to merger‐induced banking concentration is 0.18. We show that these results are not likely due to reverse causation, and confirm the central findings using state branching deregulation to instrument for bank competition.

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  • Garmaise and Moskowitz (2006) find that the competitiveness of the banking market influences crime rates.

    “By influencing economic activity, Garmaise and Moskowitz (2006) find that the competitiveness of the banking market influences crime rates.”

    From Finance, Growth, and Inequality (2021) · cites this paper as Garmaise and Moskowitz (2006)

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Authors
GARMAISE, M. J., & MOSKOWITZ, T. J.
Affiliations
Dartmouth College (US)
ORCID
GARMAISE, MARK J.
Venue
The Journal of Finance
Publisher
Wiley
Published
2006-03-09
Volume
61
Issue
2
Pages
495-538
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2006.00847.x
OpenAlex
W2123820254
Cited by
254
References
0
Citations by year
2026: 14 · 2025: 22 · 2024: 20 · 2023: 14 · 2022: 14 · 2021: 19 · 2020: 12 · 2019: 10 · 2018: 7 · 2017: 10 · 2016: 15 · 2015: 8 · 2014: 15 · 2013: 9 · 2012: 10
FWCI
20.42
Type
journal article
Language
en
Open access
closed
Licence
onlinelibrary.wiley.com/termsAndConditions#vor (vor)
Locations
The Journal of Finance (publishedVersion)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Finance › Banking stability, regulation, efficiency
  • Social Sciences › Sociology and Political Science › Crime Patterns and Interventions
  • Social Sciences › Sociology and Political Science › Urban, Neighborhood, and Segregation Studies
Keywords
bank mergers, credit market competition, property crime, bank concentration, interest rates, local construction, housing prices, neighborhood poverty, economic development, banking deregulation, reverse causality

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