Financial Inclusion and Crowdfunding -A study of European Countries

Hasnan Baber
Additional contact information
Hasnan Baber: Endicott College of International Studies, Woosong University, Daejeon, South Korea

Review of Applied Socio-Economic Research, 2021, vol. 22, issue 2, 37-48

Abstract: Financial Inclusion appears to be a means of achieving the millennium development goals (MDGs) w h ic h can exterminate poverty and help populaces to come out of the trap known as “poverty trap†. Crowdfunding, on the otherhand, helps people find investors or contributors for their business or cause. They are usually people who do no t have access to the formal financial market or do not want to borrow money athighinterest rates. The study was aime d to review the position of European countries in terms of financial inclusion and Fintechfrom the Findex data 2017 from the World Bank.The crowdfunding data was gathered from the website of the European Crowdfunding Network whi c h helps to propagate the idea of crowdfunding in European countries. The study found that most countries in Europe have a high number of populationsinclusive in the formal financial system and thus can access various fi nanc ia l se rv i ce s offered by these institutions. Also, crowdfunding has seen a sharp increase in the amount of money raisedand proj ec t s funded in the last few years which was possible through the penetration of Fintechservices in these countries. The study will be helpful for the companies which want to launch their crowdfunding platforms and also for the people who like to project their business on these platforms.

Keywords: Crowdfunding; Fina ncial Inclusion; Fintech; Europe; Poverty (search for similar items in EconPapers)
JEL-codes: O33 P36 (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://reaser.eu/RePec/rse/wpaper/REASER22_03Baber_P37-48.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rse:wpaper:v:22:y:2021:i:2:p:37-48

Access Statistics for this article

Review of Applied Socio-Economic Research is currently edited by Ruxandra Vasilescu

More articles in Review of Applied Socio-Economic Research from Pro Global Science Association Contact information at EDIRC.
Bibliographic data for series maintained by Manuela Epure ().