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

Productivity, wages and intrinsic motivation in social enterprises

The objective of the report is to examine the relationship between workers' intrinsic motivations and wage differentials within the nonprofit cooperative sector, comparing the static compensating wage differential hypothesis with a dynamic hypothesis that considers productivity as a determining factor in wages. Read More