The Global Crisis: Mother of All Warnings

Bajo, Claudia Sánchez; Roelants, Bruno

doi:10.1057/9780230308527_10

Cited by 2 publications

(6 citation statements)

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“…Rather, the observed reduction in the financial leverage ratio shows an improvement in the level of capitalization, providing further evidence of the anti-cyclical nature of cooperative business model. Its resilience is shown, for instance, in Birchall and Ketilson (2009), Allen and Maghimbi (2009), Bajo and Roelants (2011), Roelants et al (2012), Carini and Carpita (2014), Fontanari and Borzaga (2013), Fusco and Migliaccio (2015), Steklá et al (2015), and Costa and Carini (2016). Similar results rather than the present study are stressed by Steklá et al (2015) in Czechoslovakia.…”

Section: Discussionsupporting

confidence: 82%

“…In this field, it is noted that studies focus on specific countries or homogeneous geographic areas, less common are the globally range analyses (i.e. Bajo and Roelants, 2011). This is because the credit system is heavily affected by national discipline, which can provide special facilities for cooperative companies.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

“…As said before, a recent line of research focuses on the resilience of the cooperatives business model to the recent crisis (Birchall and Ketilson, 2009; Allen and Maghimbi, 2009; Accornero and Marini, 2011; Bajo and Roelants, 2011; Boone and Özcan, 2014; Roelants et al , 2012; Carini and Carpita, 2014). For instance, Fontanari and Borzaga (2013) compared the performance of 8,171 cooperatives and 19,466 capitalist enterprises (2006-2010), excluding banks and insurance companies.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

“…So, after a period of neglect, the literature has recently focused again on the cooperative model. Specifically, it has stressed the higher resilience of the cooperative business model rather than the capitalist business model (Birchall and Ketilson, 2009; Allen and Maghimbi, 2009; Bajo and Roelants, 2011; Boone and Özcan, 2014; Roelants et al , 2012; Carini and Carpita, 2014, Fusco and Migliaccio, 2015). Therefore, studies that fit in this line of research have referred to financial and or economic performance – detected using financial statement ratios – to validate the resilience during the crisis period (for instance, Narvaiza et al , 2017; Costa and Carini, 2016).…”

Section: Introductionmentioning

confidence: 99%

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Crisis, sectoral and geographical factors: financial dynamics of Italian cooperatives

Fusco

Migliaccio

2018

EMJB

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Purpose The purpose of this paper is to analyze the financial structure of Italian cooperatives in the period before and during the crisis (2004-2013), in relation to two discriminating factors. At this end, it focuses on two research questions: What financial dynamics the Italian cooperatives have involved before, during and after the 2008 crisis, that is, in the decade 2004/2013? Are there statistically differences between business sectors and geographic area? Design/methodology/approach Secondary data on AIDA database have been used. The financial structure is assessed using two ratios: the financial leverage ratio and quick ratio. The final sample consists of 1,446 cooperatives. The trend and exploratory analysis, analysis of variance and Tukey-Kramer post-hoc test have been used. Findings The financial structure of cooperatives has not been substantially affected by the crisis in any geographic area and business sector, by virtue of resilience of their business model. Moreover, these two factors produce statistically significant differences in the financial structure of cooperatives. Research limitations/implications The study takes into account only the cooperatives that survived the crisis, so, presumably, the strongest. Moreover, another and more ratios should be considered at the end to have a more complete view on the financial dynamics. Originality/value The literature on resilience of cooperatives is still not very rich. Moreover, this work analyses and integrates aspects and approaches that are not usually considered together.

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Section: Discussionsupporting

confidence: 82%

Section: Theoretical Backgroundmentioning

confidence: 99%

Section: Theoretical Backgroundmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Crisis, sectoral and geographical factors: financial dynamics of Italian cooperatives

Fusco

Migliaccio

2018

EMJB

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“…According to Bajo and Roelants (2011: 72), the debt trap results from a systematic path to debt that develops in the context of increasing inequality between countries that provide loans and countries that receive loans, as well as reduced intervention from governments that take debt. Therefore, not so difficult to observe how countries with large debts quickly get into financial trouble because of the trap set up by loan providers through specific regulations and agreements.…”

Section: Debt Trap and Structural Power: A Conceptual Overviewmentioning

confidence: 99%

How China’s Debt-Trap Diplomacy Works in African Countries: Evidence from Zimbabwe, Cameroon, and Djibouti

Al-Fadhat

Prasetio

2022

Journal of Asian and African Studies

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Since the Belt and Road Initiative (BRI) was initiated in 2013, China under Xi Jinping has continued to expand its capital to various countries. This expansion is part of China’s strategy to shore up its position as a major global economic and political power vis-à-vis the United States. As nearly 70 countries have joined the BRI network, this economic cooperation scheme contributes to economic growth and helps close the infrastructure gap. Nevertheless, the case of China’s capital expansion in Africa has shown mixed results, where some economies are becoming more dependent and even facing a debt trap. This article addresses why such economic cooperation has turned into a debt trap for countries in the African region. Applying the concept of Structural Power in examining China’s investment in Zimbabwe, Cameroon, and Djibouti, this article argues that the debt trap has been caused by the structural disparity between China as an investor and African countries as investment recipients. China, in this case, has a more dominant “good” aspect, while African countries are more in “need.” This article also contends that the debt trap is a strategy carried out by the Chinese government to dominate the African economies in the long run. The three case studies are valuable as they represented different geographical locations in the region and portray a border of lower middle-income countries in general.

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The Global Crisis: Mother of All Warnings

Cited by 2 publications

References 0 publications

Crisis, sectoral and geographical factors: financial dynamics of Italian cooperatives

Crisis, sectoral and geographical factors: financial dynamics of Italian cooperatives

How China’s Debt-Trap Diplomacy Works in African Countries: Evidence from Zimbabwe, Cameroon, and Djibouti

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