Discrimination in the Small-Business Credit Market
利用1993和1998年美国小企业金融调查数据，发现黑人拥有的小企业被拒绝贷款的概率约为白人的两倍，即使控制信用状况等因素后差距依然显著，表明种族歧视是主要原因。
We use data from the 1993 and 1998 National Surveys of Small Business Finances to examine the existence of racial discrimination in the small-business credit market. We conduct an econometric analysis of loan outcomes by race and find that black-owned small businesses are about twice as likely to be denied credit even after controlling for differences in creditworthiness and other factors. A series of specification checks indicates that this gap is unlikely to be explained by omitted variable bias. These results indicate that the racial disparity in credit availability is likely caused by discrimination.