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Crowdlending and Financial Inclusion Evidence from EU Countries

Author

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  • Iustina Alina BOITAN

    (Bucharest University of Economic Studies, Romania)

Abstract

The paper focuses on the most recent developments in the field of alternative finance business models, called crowdfunding. Based on most recent data, this paper highlights the market size of this alternative finance segment and its growth prospects across European Union member states. An indirect outcome of the paper consists in revealing the degree of financial exclusion from traditional banking products and services and whether it is linked with a higher incidence of transactions on crowdfunding platforms. The assumption to be further investigated relies on the hypothesis that unbanked people, which are excluded by conventional financial institutions, have a sound opportunity to raise money to fund their small-size investment projects or start-ups by relying on crowdfunding.

Suggested Citation

  • Iustina Alina BOITAN, 2016. "Crowdlending and Financial Inclusion Evidence from EU Countries," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 418-432, December.
    • Handle: RePEc:nwe:eajour:y:2016:i:4:p:418-432
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    References listed on IDEAS

    as
    1. Hemer, Joachim, 2011. "A snapshot on crowdfunding," Working Papers "Firms and Region" R2/2011, Fraunhofer Institute for Systems and Innovation Research (ISI).
    2. Mollick, Ethan, 2014. "The dynamics of crowdfunding: An exploratory study," Journal of Business Venturing, Elsevier, vol. 29(1), pages 1-16.
    3. Gonzalez, Laura & Loureiro, Yuliya Komarova, 2014. "When can a photo increase credit? The impact of lender and borrower profiles on online peer-to-peer loans," Journal of Behavioral and Experimental Finance, Elsevier, vol. 2(C), pages 44-58.
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    Cited by:

    1. Hasnan Baber, 2020. "FinTech, Crowdfunding and Customer Retention in Islamic Banks," Vision, , vol. 24(3), pages 260-268, September.
    2. Saman Adhami & Gianfranco Gianfrate & Sofia Johan, 2023. "Risks and returns in crowdlending," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 13(2), pages 309-340, June.
    3. Evgeni Raykov, 2017. "Analysis of the Weighted Average Cost of Working Capital of Selected Companies on the Bulgarian Stock Exchange During the Financial and Economic Crisis," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 555-572, December.

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    More about this item

    Keywords

    regulation; crowdfunding; risks; financial exclusion;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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