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The origins of the (cooperative) species: Raiffeisen banking in the Netherlands, 1898-1909

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  • Colvin, Christopher L.
  • Henderson, Stuart
  • Turner, John D.

Abstract

Cooperatively-owned Raiffeisen banks first emerged in the Netherlands in the late 1890s and spread rapidly across the country. Using a new dataset, we investigate the determinants of their market entry and early performance. We find that the cooperative organisational form, when allied to a change in the structure of Dutch agriculture and the socioreligious pillarisation of Dutch society, was an important factor explaining their entry into rural financial markets. While religious organisations provided a necessary impetus for the emergence of Raiffeisen banks, the economic advantages associated with the cooperative organisational form ensured the subsequent survival and success of these banks.

Suggested Citation

  • Colvin, Christopher L. & Henderson, Stuart & Turner, John D., 2018. "The origins of the (cooperative) species: Raiffeisen banking in the Netherlands, 1898-1909," QUCEH Working Paper Series 2018-03, Queen's University Belfast, Queen's University Centre for Economic History.
    • Handle: RePEc:zbw:qucehw:201803
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    1. Suesse, Marvin & Wolf, Nikolaus, 2020. "Rural transformation, inequality, and the origins of microfinance," Journal of Development Economics, Elsevier, vol. 143(C).

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    More about this item

    Keywords

    Cooperative banking; the Netherlands; Raiffeisen; religion;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
    • N83 - Economic History - - Micro-Business History - - - Europe: Pre-1913

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