How the Disappearance of Locally-Owned Banks Hurts Rural Economic Development
In preparation for some upcoming projects with sociologists, including my new collaborator Rob Mayer (Utah) and on another project, Alan Burton (UNM Sociology professors and UNM law student), I am beefing up on my sociology research. Alan directed me to a recent article, Restructuring the Financial Industry: The Disappearance of Locally-Owned Traditional Financial Services in Rural America. This article explains how the loss of small banks in rural America has negatively affected economic development, which has in turn reduced opportunities for rural communities to increase income, reduce poverty, decrease out-immigration, and reduce crime rates.
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