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Rich regions, poor regions and bank branch deregulation in Spain

Author

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  • José Manuel Pastor

    (Ivie, Valencia and Department of Economic Analysis, Universitat de València)

  • José Manuel Pavía

    (Department of Applied Economics, Universitat de València)

  • Lorenzo Serrano

    (Ivie, Valencia and Department of Economic Analysis, Universitat de València)

  • Emili Tortosa-Ausina

    (IVIE, Valencia and Department of Economics, Universidad Jaume I, Castellón, Spain)

Abstract

This paper evaluates the links between financial deregulation and economic performance in a European context. Specifically, we study the relaxation of bank branching restrictions in Spain, which triggered a remarkable inter-regional expansion of savings banks that coincided with an unprecedented period of sustained economic expansion. Although related questions have been widely investigated for the US, experiences in Europe have received far less research attention. An additional contribution of the paper lies in its use of quantile regression, which allows us to investigate the possibility of economic effects taking into account the degree of regional development and we also explicitly consider the potential endogeneity of some of the regressors. Our results do not support the case for a positive effect of bank branch deregulation in Spain. Out-ofregion entry, in particular, does not seem to have had any specific positive effect on regional development and this result is quite homogeneous across provinces regardless of their relative wealth.

Suggested Citation

  • José Manuel Pastor & José Manuel Pavía & Lorenzo Serrano & Emili Tortosa-Ausina, 2016. "Rich regions, poor regions and bank branch deregulation in Spain," Working Papers 2016/02, Economics Department, Universitat Jaume I, Castellón (Spain).
    • Handle: RePEc:jau:wpaper:2016/02
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    More about this item

    Keywords

    bank; branch; development; province; quantile regression;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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