Alternative banking: Theory and evidence from Europe

Kurt Von Mettenheim () and Olivier Butzbach ()

Brazilian Journal of Political Economy, 2012, vol. 32, issue 4, 580-596

Abstract: Since financial liberalization in the 1980s, non-profit maximizing, stakeholder-oriented banks have outperformed private banks in Europe. This article draws on empirical research, banking theory and theories of the firm to explain this apparent anomaly for neo-liberal policy and contemporary market-based banking theory. The realization of competitive advantages by alternative banks (savings banks, cooperative banks and development banks) has significant implications for conceptions of bank change, regulation and political economy. JEL Classification: G21.

Keywords: cooperative banks; savings banks; development banks; banking theory; banking systems; bank performance; bank ownership (search for similar items in EconPapers)
Date: 2012
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