CROWDFUNDING IN THE MIRROR OF THE NON-FINANCIAL ECONOMY

Currently, many economists consider Finance almost as the main source of economic instability and even social instability in General. At the same time, all sectoral elements of financial activity have analogues from the “real” sector of the economy, less “dangerous” for the economy than the first, and in the world, including our country, there is an active process of replacing the first with the second. In these circumstances, the analysis from the point of view of the economy without Finance of a relatively new instrument of project financing, such as crowdfunding, or people’s financing, carried out on the basis of modern information and communication technologies, is of great interest. Crowdfunding is seen as an alternative to traditional “financial” project financing, i.e. financing through financial intermediaries (banks, exchanges, etc.). But at the same time crowdfunding only in a certain part, although very significant, is a “financial” method of project financing. Some of its types, namely crowdfunding for non-financial remuneration, which, in fact, began crowdfunding, and crowdfunding for royalties, are “non-financial” instruments of financing. It is important to note that such financial types of crowdfunding as crowdinvesting and, most importantly, crowdlending, which occupies the main share of the crowdfunding market, can be transformed into non-financial analogues by replacing agreements on participation in capital and on credit with agreements on joint activities, partnership, etc. At the same time, such a transformation has significant prospects, since the factors hindering the development of crowdfunding are “financial” approaches to project financing.

crowdfunding, people’s financing, non-financial economy, economy without Finance, financial crowdfunding, non-financial crowdfunding, crowdfunding for remuneration, crowdfunding for royalties, crowdinvesting, crowdlending.

Budovich Yu. I. Crowdfunding in the mirror of the non-financial economy // Business. Education. Law. 2019. No. 1 (46). Pp. 40–46. DOI: 10.25683/VOLBI.2019.46.141.