Upload
vanesa-chesson
View
214
Download
0
Tags:
Embed Size (px)
Citation preview
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
Credit Cooperatives and Savings Banks
A template for SME finance and development?
-An approach in historical perspective
Paul Thomes
Business • Technology Innovation • Society
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
Agenda
Relevance and objective: A historical approach, why?
history as dialogue between present and past about future
perspective by retrospectiveexploiting the „history lab“
Broadening the methodological perspective Process and orientational knowledge,
Creative capacity = combining strengths
Business Model Analysis
Assessment
Conclusion and Message
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
Data and Knowledge Base
- Knowledge 35 years of research in economic and social history
- banking history esp. savings banks and credit coops- regional development and structural change - change management processes
economic and business mixed method holistic approach
- Data
quantitative and qualitative data from banks all over Germany and beyond (1778-2012)
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
MF =Inclusive
Regionally Integrated Banking
IRIB
Yunus Nobel-PrizeGrameen Bank
disappointment
need for optimization
Adaption of concepts
self-reflectionimpertinence
searching for alternatives
euphoriahype
Coop BanksSavings banks
Circle of Sentiment„New“ MF-Models vs. „Old“ MF-Models
Roodman, 2012
Bateman, 2010
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
MF as Change Management Instrument CM Model: Lewin/Schumpeter/Thomes
Kurt Lewin (1890-1947), Drei-Phasen-Veränderungs-Modell (1947) Joseph Schumpeter (1883-1950), Theorie der Innovation (1911)
Changing
MFCOOP Banks
Savings BanksRefreezing Unfreezing
Old Structure/Paradigme
New Structure/ Paradigme
InnovationDiffusion
Invention
Structures =Institutionsconventions
arrangements to optimize transaction costs and
interaction
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
Plausibility Check in Historical Perspective
18th/19th century Europe 20/21th century developing countries
no or limited financial integration of large social groups
general problems to be solved
fast growing populationrural exodus – urbanization
structural change from agrarian to industrial societymelting social institutions
pauperism infrastructure
Individual perspective: poverty, lack of finance, unsecurity
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
Cooperative Banks as Financial Inclusion Scheme
Raiffeisen (1850s): Credit-Unions Darlehenskassen-Vereine Aims: „poverty relief of rural population“
„material and moral improvement“ Concept: paternalistic-christian approach
including the whole parish or borrough – rich and poor
Schulze Delitzsch and Haas (1850s): Credit Societies, Banks for the Mass Vorschussvereine, Volksbanken
Aims: „Welfare of the mass“ Concept: liberal grass roots democratic
„A Coop means freedom, economic freedom, too“ (Haas)„It … aims at the credit needs of the small firm sector , rural and urban …
It cares for the tiniest credit need as well for big firms ....“ (SD, 1855) =
spatial and social inclusionStarting with credits, adding savings since 1870s
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
§ 1 Purpose of the association Furthering industriousness (Arbeitsamkeit) among the poor by creating occasions to improve their options
Aachen Fire Insurance (est. 1825)
Pension scheme
Savings bank (1834)including regional branches and bonuses on savings
Kindergardens
Girl schools
Acquirement of knowledgeguide books nationalregional
50% of profits until 1874
Process designdirect indirect
Verein zur Beförderung der Arbeitsamkeit (1834)
Non-profit PPP interplant organisation“innovation-lab“
Undertaking - Sponsoring
Fröbelseminar
Sponsoringeducation and
sciences RWTH (1870)
Sponsoringhealth care
Relief fund
Endowments
Holistic Regional Change Management Schemesmoothening industrialization
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
Volume of credits Number of credits
credit-portfolio Delitzscher-Vorschussverein (according to Schulze-Delitzsch), 1854-1858
Impact 1850s
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
Minimizing Usury
Access to FS
for alltransparent & fair
SME Finance
Money transferImprovingeducation and social security
CharityWelfare Infrastructure
Enablement by saving
Impact around 1900
Economic stability
Mobilizing hoarded money
MFCOOP Banks
Savings Banks
Individual and societal impact
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
Delivering Results - MF matters and MF works Parameters to achieve results above average
Parameters that do matter Parameters that do not matter
INTEGRATEDREGIONAL CONCEPTS
organisational design
Local reinvestment consumption of
profits
education
cross institutional cooperation
PPPflexibel legal
frame profit vs. non profittop down
vs. bottom up
general pre-conditions: growing economy and population
competition
private vs. public
Implicit welfare
orientation
transpa-rency
integrated finance
SCI
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
About terminology and content Towards an inclusive MF-Definition
Concept …, offering basic financial services (credit and saving facilities, insurance) to clients, who are not in the focus of normal banking institutions
… Quality of Services: transparent and fair … Goals of Services: participation, inclusion, prevention… Scope of Business Model: regional, including investment or
consumption of earnings
Key Concept Features: integrative, inclusive, sustainable, resilient, regional
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
Success factors – „Innovative“ Socio-Economic Inclusion
saving and credit
sustainable – price worthiness
bearer - SME
PPP
rivlary - regionality
transparency - reliability
flexible legal framework
bandage building
responsability
Leadership
Diversity
Innovation
Protection
Empowerment
Cooperation
Knowledge
Proportionality and Framework(G20 Principles for Innovative financial Inclusion, 2011)
Past / Future Commonplace
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
• Kredit• basisdemokratisch• Eigeninitiative• gewinnorientiert• Individualität• privat• filiallos• lokal
• individueller wirtschaftlicher Erfolg
• Sparen• patriarchalisch• Verordnung• sozial orientiert• Gemeinwohl• öffentlich• filialhaft• regional
• gesellschaftspolitisch motivierte Daseinsvorsorge
Alle einschlägigen MF-Kriterien erfüllt !
Divergenz und Konvergenz
VR Banken Sparkassen
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
Time incongruity and growing competition
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
Asset buisness of the prussian savings banks 1860-1914
[email protected] www.e-mfp.eu
www.wiso.rwth-aachen.de
© 2012
ImpactInklusion:
1913 every German household with a bank account at a savings or cooperative bank
Mobilization of hoarded money until then deprived of the economy
Structural change: market integration and merket entry through finance of traffic and supply infrastructure
stability in crises
Mix of individual and social Impact