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Finance in an Age of Austerity

Author

Listed:
  • Johnston Birchall

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.

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Johnston Birchall, 2013. "Finance in an Age of Austerity," Books, Edward Elgar Publishing, number 15074.
  • Handle: RePEc:elg:eebook:15074
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    Citations

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    Cited by:

    1. Mikko MAKINEN & Derek C. JONES, 2015. "Comparative Efficiency Between Cooperative, Savings And Commercial Banks In Europe Using The Frontier Approach," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 86(3), pages 401-420, September.
    2. Noreen BYRNE & Kristina HEINONEN & Iiro JUSSILA, 2015. "The Role and Proximity in Value Preferences: a Study of Consumer Co-operatives," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 86(2), pages 339-361, June.
    3. Silvia Sacchetti & Johnston Birchall, 2018. "The Comparative Advantages of Single and Multi-Stakeholder Cooperatives: Reflections for a Research Agenda," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, vol. 7(2), pages 87-100.
    4. Ameeta JAIN & Monica KENELEY & Dianne THOMSON, 2015. "Customer-Owned Banking In Australia: From Credit Union To Mutual Bank," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 86(3), pages 465-478, September.
    5. Ermanno C. Tortia, 2018. "The Firm as a Common. Non-Divided Ownership, Patrimonial Stability and Longevity of Co-Operative Enterprises," Sustainability, MDPI, vol. 10(4), pages 1-18, March.
    6. Ivana Catturani & Panu Kalmi & Maria Lucia Stefani, 2016. "Social Capital and Credit Cooperative Banks," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 45(2), pages 205-234, July.
    7. Giovanni Ferri, 2018. "Book Review. Marco Migliorelli (Ed.): New Cooperative Banking in Europe. Strategies for Adapting the Business Model Post Crisis," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, vol. 7(2), pages 101-107.
    8. Bülbül, Dilek & Schmidt, Reinhard H. & Schüwer, Ulrich, 2013. "Savings banks and cooperative banks in Europe," SAFE White Paper Series 5, Leibniz Institute for Financial Research SAFE.
    9. Virginia Cecchini Manara & Lorenzo Sacconi, 2019. "Governance, Reforms and Crowding out Risk in Italian CCBs," Econometica Working Papers wp72, Econometica.
    10. Silvia Sacchetti & Marco Faillo, 2017. "The notion of social responsibility across different types of nonprofit and for profit organizations," Econometica Working Papers wp61, Econometica.
    11. Johnston Birchall, 2013. "The potential of co-operatives during the current recession; theorizing comparative advantage," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, vol. 2(1), pages 1-22, May.

    Book Chapters

    The following chapters of this book are listed in IDEAS

    More about this item

    Keywords

    Business and Management; Development Studies; Economics and Finance; Politics and Public Policy;
    All these keywords.

    JEL classification:

    • F5 - International Economics - - International Relations, National Security, and International Political Economy

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