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The global financial environment and spanish cooperative banking

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  • Inmaculada Carrasco

Abstract

The phenomenon of globalization has an effect on all the fields of economic and financial activity. In this increasing competitive environment, the majority of the Spanish credit institutions have been integrated in a cooperative banking group: the Grupo Caja Rural. In other countries of long cooperative tradition, important credit institutions have responded to challenges presented by economy internationalization and the increasing competence in financial markets with the abandonment of mutuality and cooperative model. These changes have been justified by companies in order for their own survival and business growth necessities. In Spain, the reaction has been the opposite. In spite of that, some elements can make one think of a possible demutualization process in the Grupo, due to the trivialization of cooperative principles. (JEL G21, O52) Copyright International Atlantic Economic Society 2004

Suggested Citation

  • Inmaculada Carrasco, 2004. "The global financial environment and spanish cooperative banking," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 10(4), pages 265-272, November.
    • Handle: RePEc:kap:iaecre:v:10:y:2004:i:4:p:265-272:10.1007/bf02295139
    DOI: 10.1007/BF02295139
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    1. Woolcock, Michael & Narayan, Deepa, 2000. "Social Capital: Implications for Development Theory, Research, and Policy," The World Bank Research Observer, World Bank, vol. 15(2), pages 225-249, August.
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    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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