Chiara Franzoni, Henry Sauermann, Kourosh Shafi, 14 February 2019

Digital crowdfunding platforms that raise money directly from citizens have created an alternative source of research funding. This column analyses data from the largest science crowdfunding platform, It finds that women and young researchers are particularly successful in attracting funding in this way, and that risky projects are not disadvantaged as they are with traditional granting agencies. However, the amounts currently raised through crowdfunding are small, so for now it is only a complementary source of funding for most traditional research projects.

Olena Havrylchyk, 11 December 2018

Lending-based crowdfunding platforms represent an opportunity for financial intermediation that is less leveraged, less prone to runs, and easier to resolve. This column reviews the regulatory regimes for such platforms in OECD countries and the European Commission’s proposal for the EU-wide passporting regime. Regulation requires a balance to be struck between a flexible approach that allows experimentation and strong supervision to address market failures. 


CEPR Policy Research