Files
Abstract
The wave of mergers, acquisitions and consolidations in the financial industry since
1994 changed the spatial environment. This paper investigates features of core and peripheral
metropolitan areas in Ohio. From a spatial perspective, the Cleveland metropolitan area possesses
financial characteristics more closely matched to those of a high-end benchmark financial-
core such as Charlotte, North Carolina than to those of medium-size MSAs within the state.
Findings suggest that medium-size MSAs are unlikely to be financial-core areas and that they
are not evolving in that direction. Although peripheral areas lack a comparative advantage for
developing depth and breath of financial services and are subject to a retailing function from
large out-of-market institutions, there was no explicit evidence of funds drainage from medium-
size peripheral areas because of compliance with the Community Reinvestment Act.