This paper examines the consequences of branch banking for the Australian economy. There is little evidence to show that branching increased the stability of Australian banking. During the 1893 crisis, banks with more extensive branch networks, particularly those that had rapidly expanded their networks during the long boom of 1866‐89, were more likely to suspend payments. However, it is shown that branching increased the availability of capital and provision of banking services in rural areas. This occurred because, unlike unit banks, which were tied to a specific location, branch banks could internally reallocate capital from urban to rural regions at low cost.

中文翻译：

---

澳大利亚银行分行网络的功能：风险的分散和资本的空间配置

本文考察了分行银行业务对澳大利亚经济的影响。几乎没有证据表明分支机构增加了澳大利亚银行业的稳定性。在 1893 年危机期间，拥有更广泛分行网络的银行，尤其是那些在 1866-89 年的长期繁荣期间迅速扩展网络的银行，更有可能暂停付款。然而，事实表明，分支机构增加了农村地区的资本可用性和银行服务的提供。之所以发生这种情况，是因为与绑定特定地点的单位银行不同，分行可以在内部以低成本将资本从城市地区重新分配到农村地区。