Finance in an Age of Austerity

Johnston Birchall

in Books from Edward Elgar Publishing

Abstract: This is a book in search of an alternative to the discredited investor-owned banks that have brought the rich countries into crisis and the world economy into a long period of austerity. It finds customer-owned banks – credit unions, co-operative banks, building societies – have hardly been affected by the crisis and continue to operate according to their organisational DNA: low-risk, close to the customer, underpinned by real savings, and still lending to SMEs to protect jobs and local economies. They are big business – in some countries with over 40% of the market – but networked in smaller, democratic societies whose origins go back to 1850s Germany.

Keywords: Business and Management; Development Studies; Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
JEL-codes: F5 (search for similar items in EconPapers)
Date: 2013
ISBN: 9781781951835
References: Add references at CitEc
Citations: View citations in EconPapers (11)

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Chapters in this book:

Ch 1 Introduction , pp 1-6

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Ch 2 The evolution of cooperative banks , pp 7-33

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Ch 3 The evolution of credit unions , pp 34-63

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Ch 4 The evolution of mutual building societies , pp 64-87

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Ch 5 The evolution of banks owned by other types of cooperative , pp 88-93

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Ch 6 The performance of customer-owned banks during the crisis , pp 94-115

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Ch 7 The comparative advantages of customer-owned banks , pp 116-134

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Ch 8 Some alternatives: savings banks and micro-finance institutions , pp 135-148

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Ch 9 Regulation, governance and the need for member participation , pp 149-163

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Ch 10 What motivates members to participate? , pp 164-181

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Ch 11 Customer-owned businesses – the wider picture , pp 182-209

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Ch 12 Conclusion: a cooperative counter-narrative , pp 210-212

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Persistent link: https://EconPapers.repec.org/RePEc:elg:eebook:15074

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