%0 Report
        %A Kim, Mee Jung
%A Lee, Kyung Min
%A Earle, John S.
        %T Does the Community Reinvestment Act Increase Small Business Lending in Lower Income Neighborhoods?
        %D 2021
        %8 2021 Aug
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 14681
        %U https://www.iza.org/index.php/publications/dp14681
        %X We estimate the impact of the Community Reinvestment Act (CRA) on small business lending in lower-income neighborhoods. Using 2004-2016 panel data on census tracts, we apply a combined regression discontinuity and fixed effect method. We find that the number of small business loans increases by about 3 to 4 percent and the total dollar amount of small business loans by about 6 to 10 percent in tracts becoming treated by the CRA. The results are robust along many dimensions and suggest that the CRA has a positive impact on access to finance for small businesses in lower income areas.
        %K community reinvestment act
%K small business lending
%K financial constraints
%K lower income neighborhood