Nazi gains in Danat-exposed cities emerged only after the bank’s collapse

Evidence

Did voters in cities affected by Danat’s collapse already turn toward the Nazi party before Danatbank’s failure? We test for pre-trends in Figure 5, panel A, which plots coefficients for the dummy danat in regression equation (2) for each federal election between 1924 and 1933, relative to results in the 1930 election. Coefficient estimates are statistically and economically insignificant for all polls prior to the banking crisis, but positive and highly significant thereafter. Here – and in the analogous coefficient plot resulting from a difference-in-difference analysis shown in panel B – there is no evidence of pre-trends. — Sebastian Doerr et al., Financial Crises and Political…, 105

Categorization

• XREF: connects to: Only exposure to Danatbank, not Dresdner, raised Nazi voting despite identical economic losses. — Sebastian Doerr et al., Financial Crises and Political…, 94; Nazi gains in exposed cities appeared only after the banking crisis, not before.; The Danat collapse boosted Nazi votes beyond nationwide crisis effects — Sebastian Doerr et al., Financial Crises and Political…, 150 (+6 more)

Broader Connections

• Nazi gains in exposed cities appeared only after the banking crisis, not before. #corroborates (0.98)
• The Danat collapse boosted Nazi votes beyond nationwide crisis effects #expands (0.85) — Sebastian Doerr et al., Financial Crises and Political…, 150
• Danat-exposed municipalities show a distinct Nazi vote-share shift, 1930 to 1932. #exemplifies (0.82) — Sebastian Doerr et al., Financial Crises and Political…, 239
• Falling local incomes from the banking crisis raised Nazi vote share substantially #qualifies (0.80) — Sebastian Doerr et al., Financial Crises and Political…, 107
• Danatbank-exposed cities saw a 2.9-percentage-point extra rise in Nazi vote share. #expands (0.80)
• Exposure to Danatbank failure raised Nazi vote shares by roughly 3 percentage points #expands (0.80) — Sebastian Doerr et al., Financial Crises and Political…, 101
• Danat-exposed cities had no pre-crisis unemployment divergence from other cities #corroborates (0.80) — Sebastian Doerr et al., Financial Crises and Political…, 144
• Danatbank exposure raised Nazi vote share across multiple federal elections. #expands (0.78) — Sebastian Doerr et al., Financial Crises and Political…, 254