Does Local Access to Finance Matter? Evidence from U.S. Oil and Natural Gas Shale Booms

Erik P. Gilje
Corresponding Author
Erik P. Gilje
[email protected]
http://orcid.org/0000-0003-3430-5489
The Wharton School, University of Pennsylvania, Philadelphia, Pennsylvania 19104
Search for more papers by this author

Erik P. Gilje

Corresponding Author

Erik P. Gilje

[email protected]

http://orcid.org/0000-0003-3430-5489

The Wharton School, University of Pennsylvania, Philadelphia, Pennsylvania 19104

Search for more papers by this author

Published Online:13 Sep 2017https://doi.org/10.1287/mnsc.2017.2818

Supplemental Material

mnsc.2017.2818-sm.pdf (94 KB)

Cited by
- The real and financial effects of bank privatization: Business groups and the limits of credit expansion
  Global Finance Journal, Vol. 71
- Bank Branching Deregulation and the Deposit Channel of Credit Dislocation
  5 May 2026 | Financial Management, Vol. 117
- Too Many Managers: The Strategic Use of Titles to Avoid Overtime Payments
  24 March 2026 | The Review of Financial Studies, Vol. 37
- Regional Banks, Aggregate Effects
  Journal of Financial Economics, Vol. 176
- Social Transmission of Consumption
  1 January 2026 | SSRN Electronic Journal, Vol. 126
- Regulatory leniency and the cost of deposits
  12 June 2025 | Review of Accounting Studies, Vol. 30, No. 4
- Urban financial institution density and corporate innovation information disclosure
  Finance Research Letters, Vol. 86
- Shared Destinies? Small Banks and Small Businesses
  9 July 2025 | The Review of Financial Studies, Vol. 38, No. 11
- Social Connectedness in Bank Lending
  7 March 2025 | The Review of Financial Studies, Vol. 38, No. 9
- Real options investments: Lessons from the US shale gas industry
  22 January 2025 | Financial Review, Vol. 60, No. 3
- Venture Capital and Startup Agglomeration
  1 April 2025 | The Journal of Finance, Vol. 80, No. 4
- Does protection of trade secrets matter for firms’ access to external capital?
  International Review of Economics & Finance, Vol. 101
- The Geographic Flow of Bank Funding and Access to Credit: Branch Networks, Synergies, and Local Competition
  American Economic Review, Vol. 115, No. 6
- Regional analysis of agricultural bank liquidity
  27 August 2024 | Agricultural Finance Review, Vol. 85, No. 2
- Banking Integration and Capital Misallocation: Evidence from China
  12 August 2023 | The Review of Corporate Finance Studies, Vol. 14, No. 2
- Hand-to-Mouth Banks: Deposit Inflows and the Marginal Propensity to Lend
  1 January 2025 | SSRN Electronic Journal, Vol. 92
- Bridging the credit gap: The influence of regional bank structure on the expansion of peer-to-peer lending
  The British Accounting Review, Vol. 56, No. 6
- The effect of shale gas booms on environmental CSR activity
  International Review of Financial Analysis, Vol. 95
- How connected is the oil-bank network? Firm-level and high-frequency evidence
  Energy Economics, Vol. 136
- Half Banked: The Economic Impact of Cash Management in the Marijuana Industry
  19 June 2024 | The Journal of Finance, Vol. 79, No. 4
- Oil Price Dynamics and Housing Demand in Oil Producing Counties in the U.S.
  11 March 2024 | Journal of Economics and Finance, Vol. 48, No. 2
- Reserve holding and bank lending
  Journal of Empirical Finance, Vol. 77
- Following the crowd? Peer influence on voluntary bank audits
  22 February 2024 | Contemporary Accounting Research, Vol. 41, No. 2
- Decision-Making Delegation in Banks
  Jennifer Dlugosz,
  Yong Kyu Gam,
  Radhakrishnan Gopalan,
  Janis Skrastins
  26 July 2023 | Management Science, Vol. 70, No. 5
- Fiscal windfalls and entrepreneurship: fostering entry or promoting incumbents?
  29 July 2023 | Small Business Economics, Vol. 62, No. 1
- Household Stock Market Participation, Local Banks, and Local Economic Development
  1 January 2024 | SSRN Electronic Journal, Vol. 156
- Navigating the Low-Carbon Shift: Balancing Municipal Finances with Climate Goals
  1 January 2024 | SSRN Electronic Journal, Vol. 128
- Energy Transitions and Household Finance: Evidence from U.S. Coal Mining
  19 September 2022 | The Review of Corporate Finance Studies, Vol. 12, No. 4
- Liquidity Windfalls and Reallocation: Evidence from Farming and Fracking
  Richard T. Thakor
  12 December 2022 | Management Science, Vol. 69, No. 10
- We miss you George Bailey: the effect of local banking conditions on the county-level timing of the Great Recession
  30 November 2022 | Regional Studies, Vol. 57, No. 9
- Positive Bank-to-Bank Spillovers
  11 July 2022 | Journal of Financial and Quantitative Analysis, Vol. 58, No. 5
- The Real Effects of Judicial Enforcement
  4 August 2022 | Review of Finance, Vol. 27, No. 3
- Follow the money: Does the financial sector intermediate natural resource windfalls?
  Journal of International Money and Finance, Vol. 130
- Too Many Managers: The Strategic Use of Titles to Avoid Overtime Payments
  1 January 2023 | SSRN Electronic Journal, Vol. 37
- Reserve Holding and Bank Lending
  1 January 2023 | SSRN Electronic Journal, Vol. 32
- Bank Branch Density and Bank Runs
  1 January 2023 | SSRN Electronic Journal, Vol. 70
- Renewable Energy and Municipal Finance
  1 January 2023 | SSRN Electronic Journal, Vol. 101
- Geographic networks and spillovers between banks
  Journal of Corporate Finance, Vol. 77
- Shale shocked: Cash windfalls and household debt repayment
  Journal of Financial Economics, Vol. 146, No. 3
- Flooded Through the Back Door: The Role of Bank Capital in Local Shock Spillovers
  10 May 2022 | Journal of Financial and Quantitative Analysis, Vol. 57, No. 7
- The Rise of Finance Companies and FinTech Lenders in Small Business Lending
  13 June 2022 | The Review of Financial Studies, Vol. 35, No. 11
- Small Bank Lending in the Era of Fintech and Shadow Banks: A Sideshow?
  14 June 2022 | The Review of Financial Studies, Vol. 35, No. 11
- Young firms, old capital
  Journal of Financial Economics, Vol. 146, No. 1
- Capital Destruction and Economic Growth: The Effects of Sherman’s March, 1850–1920
  American Economic Journal: Applied Economics, Vol. 14, No. 4
- Finance in the New U.S. Economy: Local Finance and Service Job Growth in the Post-industrial Economy
  16 April 2021 | Journal of Financial and Quantitative Analysis, Vol. 57, No. 5
- Deposit-Lending Synergies: Evidence from Chinese Students at U.S. Universities
  13 July 2021 | Journal of Financial and Quantitative Analysis, Vol. 57, No. 5
- Community bank liquidity: Natural disasters as a natural experiment
  Journal of Financial Stability, Vol. 60
- The Cyclicality of Investment Advisor Misconduct
  SSRN Electronic Journal, Vol. 61
- A Tale of Two Cities: The Rural-Urban Divide in Banking
  SSRN Electronic Journal, Vol. 52
- Climate Risk and Capital: Evidence from the Field
  SSRN Electronic Journal, Vol. 345
- Personal Wealth, Self-Employment, and Business Ownership
  9 April 2021 | The Review of Financial Studies, Vol. 34, No. 8
- The Double Trigger for Mortgage Default: Evidence from the Fracking Boom
  Chris Cunningham,
  Kristopher Gerardi,
  Lily Shen
  23 September 2020 | Management Science, Vol. 67, No. 6
- From banking integration to housing market integration - Evidence from the comovement of U.S. Metropolitan House Prices
  Journal of Financial Stability, Vol. 54
- Local banks and the effects of oil price shocks
  Journal of Banking & Finance, Vol. 125
- The relationship between bank size and the propensity to lend to small firms: New empirical evidence from a large sample
  Journal of International Money and Finance, Vol. 110
- Shale Oil Exploration and Regional Innovations
  SSRN Electronic Journal, Vol. 103
- Venture Capitalists' Access to Finance and Its Impact on Startups
  SSRN Electronic Journal, Vol. 71
- The Deposits Channel of Aggregate Fluctuations
  SSRN Electronic Journal, Vol. 80
- Energy Finance
  SSRN Electronic Journal, Vol. 57
- Does Fintech Lending Amplify the Transmission of Monetary Policy?
  SSRN Electronic Journal, Vol. 45
- Banks and the real economy: An assessment of the research
  Journal of Corporate Finance, Vol. 62
- Bank Deposits and the Stock Market
  18 July 2019 | The Review of Financial Studies, Vol. 33, No. 6
- Capital Accumulation and Structural Transformation*
  3 January 2020 | The Quarterly Journal of Economics, Vol. 135, No. 2
- Stress tests and small business lending
  Journal of Financial Economics, Vol. 136, No. 1
- Flooded through the Back Door: The Role of Bank Capital in Local Shock Spillovers
  SSRN Electronic Journal, Vol. 31
- The Rise of Finance Companies and FinTech Lenders in Small Business Lending
  SSRN Electronic Journal, Vol. 107
- Bank Stress Test Results and Their Impact on Consumer Credit Markets
  SSRN Electronic Journal, Vol. 34
- Shale Shocked: Cash Windfalls and Household Debt Repayment
  SSRN Electronic Journal, Vol. 115
- Positive Bank-to-Bank Spillovers
  SSRN Electronic Journal, Vol. 105
- Too Many Managers: Strategic Use of Titles to Avoid Overtime Payments
  SSRN Electronic Journal, Vol. 37
- Do Business Borrowers Benefit from Bank Bailouts?: The Effects of TARP on Loan Contract Terms
  31 July 2018 | Financial Management, Vol. 48, No. 2
- We Miss You George Bailey: The Effect of Local Banking Conditions on the County-Level Timing of the Great Recession
  SSRN Electronic Journal, Vol. 95
- Stress Tests and Small Business Lending
  , Vol. 73
- Decision-Making Delegation in Banks
  SSRN Electronic Journal, Vol. 11
- Deposit-Lending Synergies: Evidence from Chinese Students at US Universities
  SSRN Electronic Journal, Vol. 31
- Capital Accumulation and Structural Transformation
  SSRN Electronic Journal, Vol. 116
- Small Business Lending and the Bank Branch Network
  SSRN Electronic Journal, Vol. 23
- Capital Allocation Across Regions, Sectors and Firms: Evidence from a Commodity Boom in Brazil
  SSRN Electronic Journal, Vol. 116
- Liquidity Windfalls and Reallocation: Evidence from Farming and Fracking
  SSRN Electronic Journal, Vol. 104

Volume 65, Issue 1

January 2019

Pages v, 1-457

Article Information

Supplemental Material

Metrics

Information

Received:December 22, 2015
Accepted:March 17, 2017
Published Online:September 13, 2017

Cite as

Erik P. Gilje (2017) Does Local Access to Finance Matter? Evidence from U.S. Oil and Natural Gas Shale Booms. Management Science 65(1):1-18.

https://doi.org/10.1287/mnsc.2017.2818

Keywords

PDF download

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Does Local Access to Finance Matter? Evidence from U.S. Oil and Natural Gas Shale Booms

Supplemental Material

Volume 65, Issue 1

Article Information

Supplemental Material

Metrics

Information

Cite as

Keywords

Sign Up for INFORMS Publications Updates and News