Sustainable but Not Spontaneous: Co-Operatives and the Solidarity Funds in Italy

Andrea Bernardi, Cécile Berranger, Anita Mannella, Salvatore Monni and Alessio Realini
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Andrea Bernardi: Business School, Oxford Brookes University, Oxford OX3 0BP, UK
Cécile Berranger: Economics, Policy and International Business, Business School, Manchester Metropolitan University, Manchester M15 6BH, UK
Anita Mannella: Department of Economics, Università Roma Tre, 00145 Roma, Italy
Alessio Realini: Department of Economics, Università Roma Tre, 00145 Roma, Italy

Sustainability, 2022, vol. 14, issue 8, 1-15

Abstract: This paper aims to highlight the role of solidarity funds in the development and support of national co-operative movements. Those are financial institutions specialized in supporting the start-up and growth of co-operatives. By adopting a case study approach, our analysis shows that solidarity funds emerged globally with similar objectives. Our international comparison focuses on Italy but includes France, the United Kingdom and Québec as a specific Canadian province with a French institutional environment. Despite their crucial importance, there is limited available research on this subject. To this end, our paper has policy implications; we need to consider establishing such institutions in countries where co-operatives are lagging behind as traditional financial institutions are often unable to finance co-operatives because of their property rights regime.

Keywords: non-bank financial institutions; venture capital; co-operatives; labor-managed firms; employee ownership; mutual funds (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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