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The Early German Credit Cooperatives and Microfinance Organizations Today: Similarities and Differences

In: The Handbook Of Microfinance

Author

Listed:
  • Timothy W. Guinnane

    (Yale University, USA)

Abstract

Microfinance institutions now occupy a central place in development policy. The economic problems that make special microfinance institutions necessary are not new, and several scholars have drawn attention to the similarities between modern microfinance institutions and older lenders. This paper uses a tight focus on one historical institution (Germany's credit cooperatives) and two of the oldest modern microfinance institutions to make a careful point-by-point comparison. Issues to consider include lending policy, typical loan sizes, sources of finance and the role of larger social and other infrastructure in shaping the institution's conduct. I conclude that despite similar goals, the historical cooperatives were different in ways that might offer lessons for microlenders today.

Suggested Citation

  • Timothy W. Guinnane, 2011. "The Early German Credit Cooperatives and Microfinance Organizations Today: Similarities and Differences," World Scientific Book Chapters, in: Beatriz Armendáriz & Marc Labie (ed.), The Handbook Of Microfinance, chapter 4, pages 77-100, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814295666_0004
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    Cited by:

    1. Anaïs Périlleux & Annabel Vanroose & Bert D'Espallier, 2016. "Are Financial Cooperatives Crowded out by Commercial Banks in the Process of Financial Sector Development?," Kyklos, Wiley Blackwell, vol. 69(1), pages 108-134, February.
    2. Antonio Andreoni, 2013. "Microfinance," Chapters, in: Luigino Bruni & Stefano Zamagni (ed.), Handbook on the Economics of Reciprocity and Social Enterprise, chapter 22, pages 227-237, Edward Elgar Publishing.
    3. Christopher L. Colvin & Stuart Henderson & John D. Turner, 2018. "The Origins of the (Cooperative) Species: Raiffeisen Banking in the Netherlands, 1898–1909," Working Papers 0126, European Historical Economics Society (EHES).

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