Local Banking and Prosperity: Some Empirical Evidence for Italy

Guglielmo Maria Caporale and Matteo Alessi

No 11926, CESifo Working Paper Series from CESifo

Abstract: The aim of this paper is to investigate the relationship between local banking and prosperity at the municipal level in Italy from 2011 to 2021. The latter variable is measured using an index proposed by Sen (1976). The analysis is based on panel regressions including a measure of local banking and other control variables at the municipality level. The static results indicate a positive and significant association between the presence of local banking and prosperity. They are confirmed by the dynamic panel estimates, and are robust to using different proxies for local bank presence. Their implication is that cooperative banking plays a crucial role in promoting prosperity at the local level.

Keywords: well-neing; cooperative banking; static and dynamic panels; GMM (search for similar items in EconPapers)
JEL-codes: G21 I31 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_11926

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