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Regulation, supervision and deposit insurance for financial cooperatives: an empirical investigation

Amr Khafagy ()
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Amr Khafagy: Ruhr-University

Annals of Finance, 2018, vol. 14, issue 2, 143-193

Abstract: Abstract This paper analyses the impact of different regulation and supervision approaches, as well as deposit insurance schemes, on the development of financial cooperatives in developing countries, using random and fixed effects estimators. Information on laws regulating financial cooperatives, the supervisory approaches adopted, and deposit insurance schemes in sixty-five developing countries were collected—mostly—from original legislations for the period 1995–2014. Key findings suggest that indicators of financial cooperative development are positively correlated with the existence of a specialized regulation; supervision under non-bank financial supervisory authorities; and the presence of deposit insurance schemes, while general cooperative society’s regulations and banking regulations are negatively correlated with financial cooperatives’ indicators. These results are robust after controlling for economic and institutional factors as well as potential endogeneity bias.

Keywords: Financial regulations; Financial supervision; Financial cooperatives; Deposit insurance (search for similar items in EconPapers)
JEL-codes: G21 G28 P13 (search for similar items in EconPapers)
Date: 2018
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