Neighborhood Development and Local Credit Markets

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Abstract
The author reconsiders the relationship between race and geographic location with the allocation of home credit by private sector lending institutions. Using a national data set for the years 1981 through 1987, the author tests the relative explanatory power of race, location, and a number of market variables. The initial analysis suggests that race is less important than is sometimes asserted in the literature. Several alternative explanations for this weak relationship are discussed.

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