The Cooperative Bank Difference Before and After the Global Financial Crisis
Becchetti LeonardoCiciretti RoccoPaolantonio Adriana
CEIS Research Paper
We compare characteristics of the banks’ specialization (cooperative versus non-cooperative) at world level in a time spell including the global financial crisis. Cooperative banks display higher net loans/total assets ratios, lower shares of derivatives over total assets and lower earning volatility than commercial banks. With a diff-in-diff approach we test whether the global financial crisis produced convergence/divergence in these indicators. We finally document that, in a conditional convergence specification, the net loans/total assets ratio is positively and significantly correlated with value added growth in some manufacturing sectors but not in others.
Keywords: bank specialization;value added;global financial crisis
JEL codes: G21,O40,E44
Date: Thursday 17 April 2014
Revision Date: Monday 23 November 2015