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Mark Klinedinst is an Emeritus Professor of Economics at The University of Southern Mississippi.
Mark Klinedinst joined The University of Southern Mississippi in 1986 as an Assistant Professor in the Department of Economics. Today, more than two decades later, Mark Klinedinst holds the title of emeritus Professor of Economics. Mark Klinedinst specializes in Eastern Europe and Bulgaria, economic participation, U.S. cooperative organizations, and transition economies. The recipient of multiple awards, Mark Klinedinst received research grants from the National Council for Eurasian and East European Research, The William Davidson Institute at the University of Michigan, and the Filene Research Institute. Mark Klinedinst served as the Chair of the Department of Economics, Finance, and International Business at The University of Southern Mississippi College of Business from 2003 through 2005 and acted as President of The University of Southern Mississippi Chapter of the American Association of University Professors from 2009 to 2010. A respected authority on economics, Mark Klinedinst penned articles for scholarly publications such as the Journal of Money, Investment and Banking; the International Research Journal of Finance & Economics; and the Journal of Comparative Economics. Mark Klinedinst also contributed to The Bulgarian Economy: Lessons from Reform During Early Transition, the New Economy Handbook, and other textbooks. In addition to writing, Mark Klinedinst reviews content for several highly regarded publications, including Economic Development Quarterly, Industrial and Labor Relations Review, the Journal of Comparative Economics, Decision Sciences, and Economic Systems. Mark Klinedinst sits on the Board of Directors of the International Association for the Economics of Participation and belongs to the Association for Evolutionary Economics, the Labor and Employment Relations Association, the Econometric Society, The American Economic Association, and the Association for Comparative Economic Studies. Mark Klinedinst attended Clark University in Worcester, Massachusetts, and graduated with a Bachelor of Arts in Government in 1976. In 1983, Mark Klinedinst earned his Master’s degree in Economics at Cornell University in Ithaca, New York, and continued his studies at the prestigious institution until he received his Ph.D. in 1987. Prior to accepting a position at The University of Southern Mississippi in 1986, Mark Klinedinst served as a Teaching Assistant at Cornell University for five years and as an Instructor at Carleton College for one year.
Mark Klinedinst's Schools
Mark Klinedinst's Publications
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Mark Klinedinst (2007): “Cooperative Comebacks: Resilience in the Face of the Hurricane Katrina Catastrophe”, Mark Klinedinst
April, 2011
by Mark Klinedinst
In the aftermath of Hurricane Katrina, many businesses in Louisiana and southern Mississippi were severely affected. Within the financial industry, however, credit unions showed particular resiliency to the effects of the disaster. Using both case studies and aggregate comparisons, this study attempts to identify some of the factors that made credit unions more resilient, with the hope of extracting guidelines that would help other credit unions and financial institutions develop emergency contingency plans.
The study found that the major factors influencing the resiliency of credit unions were an increase in assets, hard work on the part of employees, and the presence of volunteers. Not all the credit unions fared equally well, but the majority improved their standing over the course of the disaster recovery period.
During the recovery period, the assets of credit unions in the area increased collectively by almost 28 percent. Part of this increase relates to insurance payouts, while another part comes from consolidation efforts. In New Orleans, in particular, some 16 credit unions ceased operations, most of these by merging with other credit unions.
In addition, the return on assets experienced by Mississippi credit unions affected by the disaster averaged approximately 107 percent for the period. Among low-income credit unions, that figure rose to more than 160 percent. Mississippi banks, on the other hand, saw a return that was an order of magnitude smaller at 8.8 percent. Credit unions also saw increased membership.
Interviews with credit union staff also demonstrated that the organizations received non-monetary assistance from other branches, ranging from credit union associations and volunteers. The intangibles, combined with significant increases in assets and a growing customer base, allowed credit unions to rebuild more quickly and efficiently than banks.
The entire text of “Cooperative Comebacks: Resilience in the Face of the Hurricane Katrina Catastrophe,” is available online at MPRA.ub.uni-muenchen.de/28521/.
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