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 …

-out guarantee. The reason is that the prospect of a bail-out induces the rotected bank to expand, thereby intensifying competition … in the deposit market and depressing other banks' margins. In contrast, the effects on the protected bank's risk taking …

We investigate whether tax avoidance substitutes for external financing. We exploit interstate banking deregulation as … a quasi-external shock to examine whether firms engage in less tax avoidance after banking deregulation, because of …

Exploiting differential interstate branching deregulation across contiguous counties of adjacent states, we investigate …