The State of Minority- and Women- Owned ... - Cleveland.com

Table 6.29. Racial Differences in Failing to Apply for Loans Fearing Denial
a) USA
Specification
No Other Control Variables
(n=3,704)
Full Set of Control Variables
(n=3,676)
b) ENC division
No Other Control Variables
(n=3,694)
Full Set of Control Variables
(n=3,666)
c) Construction
No Other Control Variables
(n=705)
Full Set of Control Variables
(n=695)
Source: See Table 6.24.
African
American
0.385
(9.48)
0.166
(4.73)
0.392
(9.11)
0.170
(4.55)
0.492
(4.34)
0.303
(3.16)
Asian/
Pacific
Islander
0.059
(1.95)
0.038
(1.40)
0.061
(1.94)
0.037
(1.33)
-0.022
(0.29)
0.002
(0.04)
Statistical Disparities in Capital Markets
Hispanic
0.138
(4.01)
0.050
(1.82)
0.150
(4.14)
0.061
(2.09)
0.090
(1.22)
-0.009
(0.34)
Native
American
and Other
0.138
(2.14)
0.052
(1.01)
0.128
(1.90)
0.049
(0.93)
0.258
(2.17)
0.137
(1.65)
Nonminority
Female
0.072
(4.47)
0.035
(2.46)
0.060
(3.50)
0.026
(1.73)
0.026
(0.64)
-0.002
(0.11)
Notes: (1) Reported estimates are Probit derivatives with t-statistics in parentheses. (2) Full set of control variables
as in Column 5 of Table 6.27, except for loan amount, year of application, and type of lender. (3) In Panel (b),
interaction terms between race, gender, and ENC were all insignificant.
J. Further Analysis of Credit Market Discrimination: NERA Surveys
1999-2007
NERA has conducted local credit market surveys at nine other times and places since 1999.
These include the Chicago metropolitan area in 1999, the State of Maryland in 2000, the
Jacksonville, Florida metropolitan area in 2002, the Baltimore-Washington, DC metropolitan
area in 2003, the St. Louis metropolitan area in 2004, the Denver metropolitan area in 2005, the
State of Maryland (again) in 2005, the State of Massachusetts in 2005, and the Memphis, TN-
MS-AR metropolitan area in 2007. The Chicago, Jacksonville, Baltimore, St. Louis, and Denver
surveys focused on construction and construction-related industries, while the two Maryland
surveys, the Massachusetts surveys, and the Memphis surveys, included other goods and services
as well.
Our Chicago, Maryland I, and Jacksonville survey questionnaires followed the format of the
1993 NSSBF, while our Baltimore, St. Louis, Denver, Maryland II, Massachusetts, and Memphis
surveys followed the format of the 1998 SSBF questionnaire.
NERA Economic Consulting 231