The Origins of the (Cooperative) Species: Raiffeisen Banking in the Netherlands, 1898-1909

Research output: Contribution to journalArticle


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 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 cooperative enterprises ensured the subsequent survival and success of these banks.
Original languageEnglish
Article number782
Pages (from-to)749
Number of pages33
JournalEuropean Review of Economic History
Issue number4
Early online date14 Jan 2020
Publication statusPublished - 01 Nov 2020

ASJC Scopus subject areas

  • History
  • Economics and Econometrics
  • Finance

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