ABSTRACT
This chapter examines how cooperatives have managed to compete in the market following the Global Financial Crisis (GFC). It explains how cooperatives fared during this period and the reasons for their continued growth. The chapter compares the economic performance and behaviors of cooperatives and capitalist enterprises and identifies key features of the cooperative firm. It analyzes key factors that enabled cooperatives to perform well during the GFC. The chapter discusses the anti-cyclic role performed by the cooperative banks. It also examines the negative impact that the crisis had on the cooperative sector and summarizes the key findings. Many factors explain why the cooperative sector managed to compete and grow before and after the GFC. These include: an enabling legislative environment; leadership from the Central Associations; the capacity to access capital; cooperative business culture and business strategies; flexible management practices; and the role performed by the financial network structures.
