A comparative analysis of US and EU regulatory frameworks of crowdfunding for the cultural and creative industries
Bibliographic Data
| ID | 12340311 |
|---|---|
| Authors | Elisabetta Lazzaro (0000-0003-1613-7530, Department of Creative Economy, HKU University of the Arts Utrecht, Utrecht, The Netherlands, corresponding author), Douglas S Noonan (0000-0003-4654-9077, School of Public and Environmental Affairs, O’Neill School at IUPUI, Indiana University - Purdue University Indianapolis (IUPUI), Indianapolis, IN, USA) |
| Year | 2020 |
| Volume | 27 |
| Issue | 5 |
| Pages | 590-606 |
| Publication date | 2020-09-08 |
| Open Access | No |
| Type | ARTICLE |
| Venue | International Journal of Cultural Policy (JOURNAL) |
| Journal identifiers | ISSN: 1028-6632 • E-ISSN: 1477-2833 |
| Publisher | Routledge (PUBLISHER • GB) |
| DOI | 10.1080/10286632.2020.1776270 |
| OpenAlex | W3084355283 |
| Language | EN |
| Citations received | 17 |
| References cited | 30 |
In the face of the dramatic shrinking of public and private funding, the arts, culture and creative industries are increasingly relying on crowdfunding (CCCF). Furthermore, crowdfunding is relevant for its informative, promotional, co-creative and democratizing features. Yet CCCF is still a fragmented and below-potential market. Main reasons for this untapped potential include a lack of transparency and trust affected by national regulatory frameworks. We first assess the series of benefits and barriers of CCCF, and we propose and estimate a simple model of startup firms raising capital, pointing to the importance of how CCCF is regulated. We then critically analyze and compare the regulatory frameworks that may enhance CCCF benefits and limit its barriers and risks in both the United States and the European Union. We finally suggest some policy recommendations and future research in this field
Business · Creative industries · Economic policy · Economics · European union · Face (sociological concept · Political science · Public relations · Resizing · Sociology · Transparency (behavior · Blockchain Technology Applications and Security · FinTech, Crowdfunding, Digital Finance · Sharing Economy and Platforms · Marketing
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With a little help from my friends
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Flocking to the crowd
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Evolution, trends, and narratives of cultural crowdfunding
Culture, commerce and crowdfunding
Crowdfunding renewable energy investments
At the juncture of funding, policy, and technology
Digital cultural policy in Japan
The relational forms of cultural-creative crowdfunding
More than raising money
| Citations per year | 3.4 |
|---|---|
| Citation span | 2021 - 2026 (6) |
| Highly cited | No |