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Cooperative comebacks: resilience in the face of the Hurricane Katrina Catastrophe (New Orleans and Southern Mississippi, May 2005–May 2006)

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  • Klinedinst, Mark

Abstract

Millions of lives were dramatically changed by Hurricane Katrina, the worst natural disaster in U.S. history. Numerous businesses were wiped out. People lost their homes, their livelihoods, their lives. Nearly two years after Katrina, some sectors of the aff ected region have proved to be more resilient than others. Th rough the able data collection and analysis of Mark Klinedinst, an economics professor at the University of Southern Mississippi, this report examines the plight of credit unions in the face of this disaster. Klinedinst compares credit unions with banks in southern Mississippi and in New Orleans at both the aggregate and case study levels. Klinedinst argues that analyzing credit unions under this kind of duress may be useful in identifying cooperative strengths and weaknesses that are not apparent under normal circumstances. These findings may assist credit unions with larger contingency planning as it relates to disaster preparedness.

Suggested Citation

  • Klinedinst, Mark, 2007. "Cooperative comebacks: resilience in the face of the Hurricane Katrina Catastrophe (New Orleans and Southern Mississippi, May 2005–May 2006)," MPRA Paper 28521, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:28521
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    File URL: https://mpra.ub.uni-muenchen.de/28521/1/MPRA_paper_28521.pdf
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    References listed on IDEAS

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    1. Hurlin, Christophe, 2006. "Network effects of the productivity of infrastructure in developing countries," Policy Research Working Paper Series 3808, The World Bank.
    2. Fried, Harold O. & Knox Lovell, C. A. & Eeckaut, Philippe Vanden, 1993. "Evaluating the performance of US credit unions," Journal of Banking & Finance, Elsevier, vol. 17(2-3), pages 251-265, April.
    3. Marvin B. Lieberman & Shigeru Asaba, 1997. "Inventory Reduction and Productivity Growth: A Comparison of Japanese and US Automotive Sectors," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 18(2), pages 73-85.
    4. Greer, Douglas F & Rhoades, Stephen A, 1977. "A Test of the Reserve Labour Hypothesis," Economic Journal, Royal Economic Society, vol. 87(346), pages 290-299, June.
    5. Park, Kang H. & Weber, William L., 2006. "Profitability of Korean banks: Test of market structure versus efficient structure," Journal of Economics and Business, Elsevier, vol. 58(3), pages 222-239.
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    Cited by:

    1. Klinedinst, Mark, 2010. "Bad loans in the meltdown: micro analysis of credit union performance versus banks, an initial investigation," MPRA Paper 27434, University Library of Munich, Germany.
    2. Klinedinst, Mark, 2008. "A strength of credit unions: employee productivity of credit unions versus banks in the U.S.?," MPRA Paper 26296, University Library of Munich, Germany.

    More about this item

    Keywords

    credit unions; banks; hurricane; Katrina; cooperatives; finance;

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • P1 - Economic Systems - - Capitalist Systems
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G01 - Financial Economics - - General - - - Financial Crises
    • P0 - Economic Systems - - General
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • P13 - Economic Systems - - Capitalist Systems - - - Cooperative Enterprises
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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