The role of information and communication technologies in financing the european economic growth

Abstract

Despite significant progress in recent years in attracting investments in European economy, access to finance for young, innovative firms or SMEs is a problem even in countries where access to bank finance has remained stable throughout the crisis. In order to complement bank financing, the European CMU Action Plan strengthens the different sources of alternative finance, including crowdfunding, P2P Business lending etc. and offers various benefits to firms and investors, which are described in this article. JEL: E52, G18, G23, O33