removing barriers to bank entry on bank competition and economic growth. As governments were not concerned about systemic … stability in this period, we are able to isolate the effects of bank competition from those of state implicit guarantees. We … states that retained state bank chartering policies. We argue that the fiercer bank competition following the introduction of …

We formulate a model to explain why the lack of political competition may stifle economic performance and use the … political competition have quantitatively important effects on state income growth, state policies, and quality of Governors. By … our bottom-line estimate, the increase in political competition triggered by the Voting Rights Act raised long-run per …