Dynamic Bank Expansion: Spatial Growth, Financial Access, and Inequality

• 成果类型: Article
• 署名作者: Ji, Yan; Teng, Songyuan; Townsend, Robert M.
• 署名单位: Hong Kong University of Science & Technology; Yale University; Massachusetts Institute of Technology (MIT)
• 刊物名称: JOURNAL OF POLITICAL ECONOMY
• ISSN/ISSBN: 0022-3808
• DOI: 10.1086/724112
• 发表日期: 2023
• 页码: 2209-2275
• 关键词: economic-development; transactions demand; monetary-policy; price dispersion; wal-mart; MODEL; migration; PRODUCTIVITY; entrepreneurship; frictions

摘要

We propose a model with local spatial markets and heterogeneous agents to understand and evaluate the geographic expansion of bank branches after banking deregulation in Thailand. The model features heterogeneity in financial frictions across regions, with the costs of accessing credit and deposits depending on the distance from the nearest branch. Disciplined by micro estimates of the effects of branch openings, the model reproduces salient regional and aggregate patterns concerning occupational choice, financial access, and inequality. We apply the model to study two counterfactual financial sector policies in distant markets, one subsidizing branches and the other subsidizing household deposits.