Continuous exposure measures confirm Danat exposure boosted Nazi voting

Evidence

For the period 1930-July 1932, there is a large and significant effect of exposure. Moving a city from the 50th to the 90th percentile in terms of exposure implies an increase of Nazi voting by 1.7 p.p. For the period 1930-November 1932, we find a somewhat smaller and insignificant coefficient on exposure – which nonetheless is not statistically different from the one reported in column (1). For the period 1930-March 1933, the coefficient is again significant and somewhat larger. For the branch dummy in columns (4)–(6) the results are similar to those in panel A: NSDAP vote shares climbed by an additional 1.8 to 2.5 p.p. in cities with a Danat branch. Overall, Table 3 provides evidence that support for the Nazi Party rose in Danat-connected cities after the banking crisis of July 1931. — Sebastian Doerr et al., Financial Crises and Political…, 104

Categorization

• XREF: connects to: The Danat-radicalization result survives many robustness checks. — Sebastian Doerr et al., Financial Crises and Political…, 39; Pre-1921 Danat exposure predicts identical effects to later connections. — Sebastian Doerr et al., Financial Crises and Political…, 35; Exposure to Danatbank failure raised Nazi vote shares by roughly 3 percentage points — Sebastian Doerr et al., Financial Crises and Political…, 101 (+7 more)

Broader Connections

• Danat exposure raised Nazi voting 1.7 to 2.5 percentage points across robustness checks. #expands (0.92) — Sebastian Doerr et al., Financial Crises and Political…, 104
• Danatbank exposure raised Nazi vote share across multiple federal elections. #corroborates (0.90) — Sebastian Doerr et al., Financial Crises and Political…, 254
• The Danat collapse boosted Nazi votes beyond nationwide crisis effects #corroborates (0.88) — Sebastian Doerr et al., Financial Crises and Political…, 150
• Danat exposure radicalized Nazi voting beyond the income losses it caused #expands (0.85) — Sebastian Doerr et al., Financial Crises and Political…, 113
• Danatbank-exposed cities saw a 2.9-percentage-point extra rise in Nazi vote share. #exemplifies (0.85)
• Nazi vote share gained an extra 2.5 percentage points in Danat-exposed cities. #exemplifies (0.85) — Sebastian Doerr et al., Financial Crises and Political…, 96
• Anti-finance sentiment alone cannot explain the Danat effect on Nazi voting #qualifies (0.75) — Sebastian Doerr et al., Financial Crises and Political…, 141