The Effect of Oil Production on Bank Deposits in North Dakota’s Bakken Formation
Overlaps of Private Sector with Public Sector around the Globe
ISBN: 978-1-78441-956-1, eISBN: 978-1-78441-955-4
Publication date: 4 July 2015
Abstract
We examine the link between oil production and bank deposits in North Dakota’s Bakken oil formation. We find that oil production is positively related to bank deposits, even in the presence of gas production, farm production, the level of interest rates, and the term premium of interest rates. The effect is significant even when we “purge” the effect of the other variables from oil production, which indicates a strong relationship between oil production and bank deposits.
Keywords
Acknowledgements
Acknowledgments
We thank Amber Hanson, Patrick Hendrickson, and Laura Davison for valuable research assistance. Any remaining errors are our own.
Citation
Lee, T.K., Dennis, S.A. and Simlai, P. (2015), "The Effect of Oil Production on Bank Deposits in North Dakota’s Bakken Formation", Overlaps of Private Sector with Public Sector around the Globe (Research in Finance, Vol. 31), Emerald Group Publishing Limited, Leeds, pp. 1-16. https://doi.org/10.1108/S0196-382120150000031001
Publisher
:Emerald Group Publishing Limited
Copyright © 2015 Emerald Group Publishing Limited