Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 1, 2017 erstellt
Beschreibung:
Credit markets affect the real economy in multiple ways. This paper utilizes variation in the timing of bank branching deregulation of 39 states between 1970 to 1994 as an exogenous proxy of credit availability to analyze the link between credit markets and educational outcomes. Using CPS data to estimate reduced form models, results indicate a one percentage point increase in the likelihood of graduating high school after bank branching deregulation. Results also suggest heterogeneity of effects over race. The main findings are robust to placebo tests using false deregulation dates