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Crowdfunding and Economic Growth

by Johan Holmberg

Institution:	Umeå University
Year:	2016
Keywords:	Social Sciences; Economics and Business; Economics; Samhällsvetenskap; Ekonomi och näringsliv; Nationalekonomi
Posted:	02/05/2017
Record ID:	2135381
Full text PDF:	http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-124307

Abstract

Crowdfunding is an alternative form of finance that have emerged with the widespread adoption of the internet. With the increasing utilization of crowdfunding, this thesis sets out to theoretically investigate whether crowdfunding could affect economic growth. If the choice of investment allocation mechanism could have any effect on the efficiency of investments made in the economy. The results show that crowdfunding could have a potential effect on the leakage of investments in the economy. The relative accuracy of the screening process and the transaction costs coupled with the method used for conducting the investments could affect the socially optimal proportion of investments conducted using crowdfunding.