Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/322488 
Year of Publication: 
2025
Series/Report no.: 
CESifo Working Paper No. 11926
Publisher: 
CESifo GmbH, Munich
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.
Subjects: 
well-neing
cooperative banking
static and dynamic panels
GMM
JEL: 
I31
G21
Document Type: 
Working Paper
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