The Philippine credit cooperatives have grown in financial resources and membership over the last three decades. These cooperatives are self-reliant and self-sustaining. This paper is an attempt to assess the importance and potential impact of any further sectoral development and to identify...

One of the important weapons the government has used to alleviate poverty is its credit policy aimed to mitigate destitution among small farm households. However, its intended recipients have not properly received the effort. Convinced that credit availability can be sustained to achieve poverty...

We estimate a structural profit model for 956 matched pairs of US credit unions and commercial banks, using the results to examine how the subsidies associated with credit unions' income tax exemptions and non-profit status are allocated across various stakeholders. We find economically large...

This paper examines differences in institutional risk profiles based on credit union membership type and membership expansion via "select employee groups," or SEGs, which are now expressly allowed by the Credit Union Membership Access Act of 1998. A cross-sectional statistical model is specified...

The paper describes the microfinance environment in Uzbekistan, with an emphasis on two types of non-bank microfinance institutions - Credit Unions and Microcredit Organizations. The specific nature of these institutions provides new evidence of the commercially oriented microcredit model and...

The Clean Development Mechanism (CDM) under the Kyoto Protocol to the UN Framework Convention on Climate Change (UNFCCC) enables industrialized countries to meet a part of their emission reduction requirements through purchase of emission reduction credits from projects in developing countries....

The recent financial crisis has led to a major debate about fair-value accounting. Many critics have argued that fair-value accounting, often also called mark-to-market accounting, has significantly contributed to the financial crisis or, at least, exacerbated its severity. In this paper, we...

The recent financial crisis has led to a vigorous debate about the pros and cons of fair-value accounting (FVA). This debate presents a major challenge for FVA going forward and standard setters' push to extend FVA into other areas. In this article, we highlight four important issues as an...

The level of default in financial institutions is a key piece of information in the activity of these organizations and reveals their level of risk. This in turn explains the growing attention given to variables of this kind, during the crisis of these last years. This paper presents a method to...

Motivated by the variety of bank risk proxies, our analysis reveals that nonperforming assets are a well-suited complement to the Z-score in studies of bank risk.