IDEAS home Printed from https://ideas.repec.org/p/kud/kuiedp/9725.html
   My bibliography  Save this paper

Why Danish Credit Co-operatives were so unimportant

Author

Listed:
  • Timothy W. Guinnane

    (Yale University)

  • Ingrid Henriksen

    (Institute of Economics, University of Copenhagen)

Abstract

Denmark's credit cooperatives were introduced relatively late and were never as important to the Danish financial system as credit cooperatives in several similar European countries. This experience stands in contrast to the experience of other cooperative enterprises in Denmark, most notably cooperative creameries. We argue that the Danish experience does not reflect a lack of need for such institutions or an inability to adapt them to Danish conditions. Rather, in the 1860s rural Danish people had succeeded in adapting another form of financial institution, the savings bank, to serve the needs of the small borrowers who elsewhere were the main clientele of the credit cooperative. Thus much of the need for cooperatives had been satisfied by another institution. The Danish experience illustrates both the adaptability of financial institutions and the sensitivity of cooperatives to competition for their niche in the financial system.

Suggested Citation

  • Timothy W. Guinnane & Ingrid Henriksen, 1997. "Why Danish Credit Co-operatives were so unimportant," Discussion Papers 97-25, University of Copenhagen. Department of Economics.
    • Handle: RePEc:kud:kuiedp:9725
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Timothy W. Guinnane, 2001. "A 'Friend and Advisor': Management, Auditors, and Confidence in Germany's Credit Cooperatives, 1889-1914," Working Papers 824, Economic Growth Center, Yale University.
    2. Chloupkova, Jarka, 2002. "European Cooperative Movement - Background and Common Denominators," Unit of Economics Working Papers 24204, Royal Veterinary and Agricultural University, Food and Resource Economic Institute.
    3. Timothy W. Guinnane, 2001. "Delegated Monitors, Large and Small: The Development of Germany's Banking System, 1800-1914," Working Papers 835, Economic Growth Center, Yale University.
    4. Susana Martínez Rodríguez & Ángel Pascual Martínez Soto, 2008. "El Raiffesianismo español: cooperativismo agrícola confesional de crédito en España 1890-1934," UHE Working papers 2008_01, Universitat Autònoma de Barcelona, Departament d'Economia i Història Econòmica, Unitat d'Història Econòmica.
    5. Maixe-Altes, J. Carles, 2009. "The diversity of organisational forms in banking: France, Italy and Spain 1900-2000," MPRA Paper 14838, University Library of Munich, Germany.
    6. Ángel Pascual Martínez Soto & Susana Martínez Rodríguez, "undated". "The difficult and tortuous path of agricultural cooperative networks in Spain, 1890-1935," UHE Working papers 2006_12, Universitat Autònoma de Barcelona, Departament d'Economia i Història Econòmica, Unitat d'Història Econòmica.

    More about this item

    Keywords

    history of credit cooperatives; savings banks;

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • N2 - Economic History - - Financial Markets and Institutions

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kud:kuiedp:9725. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Thomas Hoffmann (email available below). General contact details of provider: https://edirc.repec.org/data/okokudk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.