What is the Impact of Casino Gambling on Personal Bankruptcy Filing Rates?
Personal bankruptcies soared in the United States between 1994 and 1998. One activity that can precipitate personal financial crises and that has also experienced dramatic growth is commercial gambling, especially casino gambling. Proximity of casino gambling appears to be associated with higher bankruptcy rates, but that the local impact is far more pronounced than the influence of casino gambling on the national filing rate. John M. Barron, Michael E. Staten and Stephanie M. Wilshusen Barron: Professor, Department of Economics, Krannert Graduate School of Management, Purdue University, West Lafayette, IN 47907. E-mail barron@mgmt.purdue.edu Staten: Director, Credit Research Center, McDonough School of Business, Georgetown University, 3240 Prospect Street NW, Suite 300, Washington, DC 20007. E-mail statenm@msb.edu Wilshusen: Research Associate, Credit Research Center, McDonough School of Business, Georgetown University, 3240 Prospect Street NW, Suite 300, Washington, DC 20007.
Personal bankruptcies soared in the United States between 1994 and 1998. One activity that can precipitate personal financial crises and that has also experienced dramatic growth is commercial gambling, especially casino gambling. Proximity of casino gambling appears to be associated with higher bankruptcy rates, but that the local impact is far more pronounced than the influence of casino gambling on the national filing rate. John M. Barron, Michael E. Staten and Stephanie M. Wilshusen Barron: Professor, Department of Economics, Krannert Graduate School of Management, Purdue University, West Lafayette, IN 47907. E-mail barron@mgmt.purdue.edu Staten: Director, Credit Research Center, McDonough School of Business, Georgetown University, 3240 Prospect Street NW, Suite 300, Washington, DC 20007. E-mail statenm@msb.edu Wilshusen: Research Associate, Credit Research Center, McDonough School of Business, Georgetown University, 3240 Prospect Street NW, Suite 300, Washington, DC 20007. E-mail
