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The Relationship of Pari‐mutuel Wagering and Casino Gaming to Personal Bankruptcy
Author(s) -
Thalheimer Richard,
Ali Mukhtar M.
Publication year - 2004
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1093/cep/byh031
Subject(s) - bankruptcy , personal income , business , debt , unemployment , population , demographic economics , economics , advertising , actuarial science , labour economics , finance , economic growth , demography , sociology
In this article, the relationship of the availability of pari‐mutuel wagering and casino gaming opportunities to personal (nonbusiness) bankruptcy filings is investigated. An econometric model was developed relating the number of personal bankruptcies to sociodemographic, legal, and economic factors. In addition, a unique measure of access to casino and pari‐mutuel gaming was included. Population, personal income, age, race, divorce rate, unemployment rate, and the ratio of debt to disposable personal income were found to be significant determinants of personal bankruptcies. Access to pari‐mutuel or casino gaming facilities was found not to have a significant impact on personal bankruptcies. (JEL K1 , K4 , D1 , L83 )