Cooperative Financial Institutions : Issues in Governance, Regulation, and Supervision
This paper addresses topics on which an agreement is necessary to arrive at consensus guidelines or principles of regulation and supervision of cooperative financial institutions (CFIs) in developing countries. Specifically we identify those aspects related to CFI industry structure, governance, legislation and regulation over which a well established base of knowledge exists; we point out the most important gaps in understanding and those over which a considerable degree of disagreement among stakeholders appears to exist and that require research to consolidate opinions. Three main topics covered are: (i) the fundamental structure of the sector in terms of its internal (micro) and inter-CFI (macro) organization, with focus on the agency conflicts inherent in the mutual structure, the extent to which they contribute to failure risk, and to whether and how these conflicts are controlled by existing governance mechanisms; (ii) the existing legal frameworks in an international context, their origins and the implications for the functioning of CFIs; and (iii) the regulatory frameworks under which CFIs operate and the different propositions by stakeholders about what should be an appropriate regulatory framework and an effective supervision mechanism.
|This book is provided by The World Bank in its series World Bank Publications with number 7107 and published in 2006.|
|Contact details of provider:|| Postal: |
Phone: (202) 477-1234
Web page: https://openknowledge.worldbank.org
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- McKillop, D. G. & Glass, J. C. & Ferguson, C., 2002. "Investigating the cost performance of UK credit unions using radial and non-radial efficiency measures," Journal of Banking & Finance, Elsevier, vol. 26(8), pages 1563-1591, August.
- Cummins, J. David & Rubio-Misas, Maria & Zi, Hongmin, 2004. "The effect of organizational structure on efficiency: Evidence from the Spanish insurance industry," Journal of Banking & Finance, Elsevier, vol. 28(12), pages 3113-3150, December.
- Smith, Bruce D. & Stutzer, Michael J., 1990. "Adverse selection and mutuality: The case of the farm credit system," Journal of Financial Intermediation, Elsevier, vol. 1(2), pages 125-149, June.
- Glenn D. Westley & Sherrill Shaffer, 1997.
"Credit Union Policies and Performances in Latin America,"
IDB Publications (Working Papers)
6430, Inter-American Development Bank.
- Westley, Glenn D. & Shaffer, Sherrill, 1999. "Credit union policies and performance in Latin America," Journal of Banking & Finance, Elsevier, vol. 23(9), pages 1303-1329, September.
- Glenn D. Westley & Sherrill Shaffer, 1998. "Credit union policies and performance in Latin America," Working Papers 98-1, Federal Reserve Bank of Philadelphia.
- Glenn Westley & Sherrill Shaffer, 1997. "Credit Union Policies and Performances in Latin America," Research Department Publications 4086, Inter-American Development Bank, Research Department.
- Martin Desrochers & Klaus P. Fischer, 2003. "Theory and Test on the Corporate Governance of Financial Cooperative Systems: Merger vs. Networks," Cahiers de recherche 0334, CIRPEE.
- Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
- Loretta J. Mester, 1989.
"Testing for expense preference behavior: mutual versus stock savings and loans,"
89-27, Federal Reserve Bank of Philadelphia.
- Loretta J. Mester, 1989. "Testing for Expense Preference Behavior: Mutual versus Stock Savings and Loans," RAND Journal of Economics, The RAND Corporation, vol. 20(4), pages 483-498, Winter.
- Cuesta, Rafael A. & Orea, Luis, 2002. "Mergers and technical efficiency in Spanish savings banks: A stochastic distance function approach," Journal of Banking & Finance, Elsevier, vol. 26(12), pages 2231-2247.
- Arun, Thankom, 2005. "Regulating for development: the case of microfinance," The Quarterly Review of Economics and Finance, Elsevier, vol. 45(2-3), pages 346-357, May.
- repec:oup:qjecon:v:90:y:1976:i:4:p:630-49 is not listed on IDEAS
- Oliver Hart & John Moore, 1998.
"Cooperatives vs. Outside Ownership,"
ESE Discussion Papers
114, Edinburgh School of Economics, University of Edinburgh.
- Oliver Hart & John Moore, 1998. "Cooperatives vs. Outside Ownership," NBER Working Papers 6421, National Bureau of Economic Research, Inc.
- Oliver Hart & John Moore, 1998. "Cooperatives vs. Outside Ownership," STICERD - Theoretical Economics Paper Series 346, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Oliver Hart & John Moore, 1998. "Cooperatives vs. outside ownership," LSE Research Online Documents on Economics 19360, London School of Economics and Political Science, LSE Library.
- Oliver Hart & John Moore, 1998. "Cooperatives vs. Outside Ownership," Harvard Institute of Economic Research Working Papers 1816, Harvard - Institute of Economic Research.
- repec:oup:qjecon:v:109:y:1994:i:2:p:491-515 is not listed on IDEAS
- Edward Kane, 1997.
"Ethical Foundations of Financial Regulation,"
Journal of Financial Services Research,
Springer, vol. 12(1), pages 51-74, August.
- Robert C. Merton & Zvi Bodie, 2004. "The Design of Financial Systems: Towards a Synthesis of Function and Structure," NBER Working Papers 10620, National Bureau of Economic Research, Inc.
- Merton, Robert C., 1977. "An analytic derivation of the cost of deposit insurance and loan guarantees An application of modern option pricing theory," Journal of Banking & Finance, Elsevier, vol. 1(1), pages 3-11, June.
When requesting a correction, please mention this item's handle: RePEc:wbk:wbpubs:7107. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Breineder)
If references are entirely missing, you can add them using this form.