Racial violence, political representation, and the threat to banks as open access institutions
利用自由民储蓄信托的存款人到达数据，研究发现1866至1873年间，针对非裔美国人的种族暴力事件使同一地区分行新开户数减少25%，而政治代表性和保护措施的增加则使新存款人到达率提高约50%。
Using detailed depositor arrival data from the Freedman’s Savings and Trust, we examine how the failure to prevent racial violence impacts bank participation. From 1866 to 1873, we find that events of racial violence perpetrated against Black Americans decrease new account openings at branches in the same region by 25% relative to other branches in the 30 days after the event. Alternatively, events that increased political representation and protections increase the relative arrival of new depositors at the bank by around 50% for the affected branches. We also show that those who opened accounts in the wake of a violent event were less likely to close an account before the bank’s eventual failure, suggesting that those who were resistant to the impact of political violence may have tragically been more exposed to other institutional failures.