WP 83 | 15 The Spirit of the Law over its Letter: The Role of Culture and Social Norms in Shielding Cooperative Banks from Systemic Shocks

The macroeconomic impact of bank misconduct has deterred users of financial services from using the system, to the detriment of market integrity, and has prompted policymakers and supervisors to turn to "culture" as a tool to regain public trust. This paper addresses the definitional deficit on what "culture" is by exploring the illustrative case of cooperative banks. Read More

WP 46 | 13 Cooperative’s concern for the community: from members towards local communities’ interest

This article discusses the relationship between cooperatives and their communities, one of the standard ways in which the "cooperative difference" is explained. What are the origins of this special relationship? Why and how did it receive so much attention in the 1990s, when the international cooperative movement undertook a major and sustained effort to articulate its core values and principles? Read More