Abstract
Cooperatively owned Raiffeisen banks first emerged in the Netherlands in the late 1890s and spread rapidly across the country. Using a new dataset, we investigate the determinants of their market entry and early performance. We find the cooperative organisational form, when allied to a change in the structure of Dutch agriculture and the socioreligious pillarisation of Dutch society, was an important factor explaining their entry into rural financial markets. While religious organisations provided a necessary impetus for the emergence of Raiffeisen banks, the economic advantages associated with cooperative enterprises ensured the subsequent survival and success of these banks.
“We will now discuss in a little more detail the Struggle for Existence.”
From Charles Darwin, The Origins of the Species (1859)
“We will now discuss in a little more detail the Struggle for Existence.”
From Charles Darwin, The Origins of the Species (1859)
Original language | English |
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Pages (from-to) | 749-782 |
Number of pages | 34 |
Journal | European Review of Economic History |
Volume | 24 |
Issue number | 4 |
Early online date | 14 Jan 2020 |
DOIs | |
Publication status | Published (in print/issue) - 30 Nov 2020 |
Bibliographical note
Publisher Copyright:© 2020 Oxford University Press. All rights reserved.
Copyright:
Copyright 2020 Elsevier B.V., All rights reserved.
Keywords
- Cooperative banking
- the Netherlands
- Raiffeisen
- religion
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Stuart Henderson
- Department of Acc, Finance & Economics - Senior Lecturer in Financial Services
- Ulster University Business School - Senior Lecturer
Person: Academic