05408oam 22011654 450 991096806530332120250426110136.0978661382231497814623951941462395198978145273499614527349929781282558175128255817X97814519101931451910193(CKB)3360000000443266(EBL)1608452(SSID)ssj0000946205(PQKBManifestationID)11573199(PQKBTitleCode)TC0000946205(PQKBWorkID)10893091(PQKB)11026104(OCoLC)535146888(IMF)WPIEE2007002(MiAaPQ)EBC1608452(IMF)WPIEA2007002WPIEA2007002(EXLCZ)99336000000044326620020129d2007 uf 0engur|n|---|||||txtccrCooperative Banks and Financial Stability /Martin Cihak, Heiko Hesse1st ed.Washington, D.C. :International Monetary Fund,2007.1 online resource (50 p.)IMF Working Papers"January 2007."At head of title: Monetary and Capital Markets Department.9781451865660 145186566X Includes bibliographical references (p. 35-36).Cover Page; Title Page; Copyright Page; Contents; I. Motivation and Literature Overview; 1. Cooperative Banks: Retail Market Shares in Selected Countries; II. Data and Methodology; A. Data; B. Measuring Bank Stability; C. Methodology; 1. Summary Statistics of Bank-Specific Variables in the Sample, 1994-2004; III. Results; A. Decomposition of Z-Scores and Correlation Analysis; 2. Decomposition of Z-Scores for the Full Sample, 1994-2004; 3. Decomposition of Z-Scores for Selected Countries, 1994-2004; 4. Sensitivity of the Z-score Decomposition5. Fitch: Long-Term Ratings: Distribution of the Banks in Sample6. Correlation Coefficients between the Z-Score and Selected Key Variables, 1994-2004; B. Regression Analysis; 7. Regression Results (Full Sample); 8. OECD Regressions with Governance Variable; 9. Regression Results (Large Banks); 10. Regression Results (Small Banks); 11. Robust Regressions; 12. Quantile Regressions (Full Sample); IV. Conclusions and Topics for Further Research; I. Data Issues; References; FootnotesCooperative banks are an important, and growing, part of many financial systems. This paper empirically analyzes the role of cooperative banks in financial stability. Contrary to some suggestions in the literature, we find that cooperative banks are more stable than commercial banks. This finding is due to the lower volatility of the cooperative banks' returns, which more than offsets their lower profitability and capitalization. This is most likely due to cooperative banks' ability to use customer surplus as a cushion in weaker periods. We also find that in systems with a high presence of cooperative banks, weak commercial banks are less stable than they would be otherwise. The overall impact of a higher cooperative presence on bank stability is positive on average but insignificant in some specifications.IMF Working Papers; Working Paper ;No. 2007/002Banks and banking, CooperativeEconomic stabilizationBankingimfBanks and BankingimfBanks and bankingimfBanks and banking, CooperativeimfBanksimfCommercial banksimfCooperative banksimfDepository InstitutionsimfFinanceimfIncomeimfInterest ratesimfInterest Rates: Determination, Term Structure, and EffectsimfLong term interest ratesimfMacroeconomicsimfMicro Finance InstitutionsimfMortgagesimfPersonal incomeimfPersonal Income, Wealth, and Their DistributionsimfGermanyimfBanks and banking, Cooperative.Economic stabilization.BankingBanks and BankingBanks and bankingBanks and banking, CooperativeBanksCommercial banksCooperative banksDepository InstitutionsFinanceIncomeInterest ratesInterest Rates: Determination, Term Structure, and EffectsLong term interest ratesMacroeconomicsMicro Finance InstitutionsMortgagesPersonal incomePersonal Income, Wealth, and Their Distributions334.22334.220681Cihak Martin1106217Hesse Heiko1816008International Monetary Fund.Monetary and Capital Markets Dept.DcWaIMFBOOK9910968065303321Cooperative Banks and Financial Stability4372826UNINA