The competitive edge of credit unions in Costa Rica
From financial repression to the risks of a new financial environment
Bibliographic Data
| ID | 12969558 |
|---|---|
| Authors | Miguel Jauregui Rojas (Université de Moncton, corresponding author), Sébastien Deschênes (Université de Moncton), Lovasoa Ramboarisata (0000-0002-0098-2070, Université du Québec à Montréal), André Leclerc (0000-0002-4823-5883, Université de Moncton) |
| Year | 2019 |
| Volume | 9 |
| Issue | 2 |
| Publication date | 2019-02-06 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Canadian journal of nonprofit and social economy research (JOURNAL) |
| Journal identifiers | ISSN: 1920-9355 • E-ISSN: 1920-9355 |
| Publisher | University of Alberta Libraries (PUBLISHER) |
| DOI | 10.22230/cjnser.2018v9n2a289 |
| OpenAlex | W2913783093 |
| Language | EN |
| References cited | 13 |
This article argues that financial repression played a key role in the emergence of credit unions (CUs) in Costa Rica, along with other institutional factors. Credit unions took advantage of the opportunity to serve borrowers whose requests had been refused by banks. Given the sweeping reforms of the Costa Rican financial system aimed at reducing the scope of financial repression, this article poses the question of how those reforms impacted the competitiveness of CUs. Previous literature suggests that financial reform may lead to concentration in the financial sector, and not to the promotion of a more competitive environment. This article presents data showing that CUs in Costa Rica exhibited an enhanced ability to gain market share and also provides an explanation for the observed trend.RÉSUMÉL’article soutient que la répression financière avec d’autres facteurs institutionnels a joué un rôle clé dans l’émergence des coopératives financières (CF) au Costa Rica. Les CF ont profité de l’occasion pour servir les emprunteurs dont les demandes avaient été refusées par les banques. Compte tenu des réformes radicales du système financier costaricien, visant à réduire l’étendue de la répression financière, l’article pose la question de l’incidence de ces réformes sur la compétitivité des CF. La littérature précédente suggère que la réforme financière peut conduire à une concentration du secteur financier et non à la promotion d’un environnement plus compétitif. Notre article démontre que les CF du Costa Rica présentent une capacité à accroître leurs parts de marché. Nous fournissons une explication de la tendance observée
Business · Business administration · Economics · Economy · Financial repression · Financial sector · Financial system · Interest rate · Non profit · Political science · Promotion (chess · Welfare economics · Banking stability, regulation, efficiency · Cooperative Studies and Economics · Corporate Finance and Governance · Law · Finance
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| Citation velocity | historical |
|---|---|
| Highly cited | No |