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The Role of Financial Cooperatives in Building Trust: A Gender Wise Global Analysis

Author

Listed:
  • Dr. Muhammad Asif Shamim

    (Professor, Iqra University Karachi, Pakistan)

  • Dr. Aribah Aslam

    (Department of Economics, The University of Lahore, Lahore, Pakistan)

  • Rashid Hussain

    (Punjab Skills Development Fund, Pakistan)

  • Mr. Tumani Sanneh

    (Scholar, the University of Lahore, Lahore, Pakistan)

Abstract

Financial institutions are crucial for economic development. Lack of trust in financial institutions such as banks can have catastrophic consequences, as observed during past financial crises and the COVID-19 pandemic. Considering the importance of financial institutions, we examine the major factors influencing trust in financial institutions among the female population at a global sample. We explore the potential impact of contextual factors, such as institutional performance and country-level trust, on trust in financial institutions by employing logit and Probit models in a global data set. We find that women tend to trust banks more than men on average. We propose that greater gender equality in society and financial inclusion can decrease the gender gap in trust in banks at the country level.

Suggested Citation

  • Dr. Muhammad Asif Shamim & Dr. Aribah Aslam & Rashid Hussain & Mr. Tumani Sanneh, 2024. "The Role of Financial Cooperatives in Building Trust: A Gender Wise Global Analysis," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 703-708.
    • Handle: RePEc:rfh:bbejor:v:13:y:2024:i:1:p:703-708
    DOI: https://doi.org/10.61506/01.00258
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    References listed on IDEAS

    as
    1. Heyert, Axelle & Weill, Laurent, 2023. "The gender gap in trust in Banks," Research in International Business and Finance, Elsevier, vol. 66(C).
    2. Aggarwal, Raj & Goodell, John W. & Selleck, Lauren J., 2015. "Lending to women in microfinance: Role of social trust," International Business Review, Elsevier, vol. 24(1), pages 55-65.
    3. Filipiak, Ute, 2016. "Trusting financial institutions: Out of reach, out of trust?," The Quarterly Review of Economics and Finance, Elsevier, vol. 59(C), pages 200-214.
    4. Park, Na Young, 2020. "Trust and trusting behavior in financial institutions: Evidence from South Korea," International Review of Economics & Finance, Elsevier, vol. 67(C), pages 408-419.
    5. Carin van der Cruijsen & Jakob de Haan & Ria Roerink, 2021. "Financial knowledge and trust in financial institutions," Journal of Consumer Affairs, Wiley Blackwell, vol. 55(2), pages 680-714, June.
    6. van der Cruijsen, Carin & de Haan, Jakob & Jonker, Nicole, 2022. "Has the COVID-19 pandemic affected public trust? Evidence for the US and the Netherlands," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 1010-1024.
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    Cited by:

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