Does the Structure of Banking Markets Affect Economic Growth? Evidence from U.S. State Banking Markets
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We thank participants in the 2009 NBER Summer Institute workshop on the Development of the American Economy and the Federal Reserve System Research Committee on Financial Structure and Regulation (especially Mark Vaughan) for comments on previous versions of this paper, and Nilisha Agrawal, Craig Aubuchon, Lydia Fung, and Daniel McDonald for excellent research assistance. Mitchener acknowledges the generous financial support of the Hoover Institution while in residence as the W. Glenn Campbell and Rita Ricardo-Campbell National Fellow. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.