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The contribution of fintech (crowdfunding) to sosio-economic development in Indonesia

Rahman, Maya Puspa (2016) The contribution of fintech (crowdfunding) to sosio-economic development in Indonesia. In: 15th International Convention of the East Asian Economic Association (EAEA 2016), 4th-5th Nov 2016, Bandung, Indonesia. (Unpublished)

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With over 1.6 billion Muslims across the world, the "Halal" market is worth an estimated US$2.1 trillion a year and is growing at US$500 billion annually due to an ever-increasing Muslim population. Indonesia, having the largest Muslim population in the world, have been concentrating on the development of microfinance services, targeting to develop the microenterprises that have limited access to financial services. In line with the development of financial technology (Fintech), concerted efforts have been placed towards the socio-economic development of the low-earning families in Indonesia. One of the successful Fintech contributions is on the development of affordable houses in Jakarta through crowdfunding, which is expected to bring significant changes to the landscape of finance and growth nexus and hence towards the socio-economic development in Indonesia. As such, this paper analyzes the importance of Fintech through crowdfunding mechanism by developing an integrated database consists of all projects that have used crowdfunding platforms to raise funds. An extended analysis by employing the logistic regression is undertaken to assess on the importance of certain factors over the success rate of raising funds through this mechanism. This research documents the growing importance of crowdfunding not only to the Indonesian people, but also acts as a new gateway for entrepreneurs and investors around the world to be part of the economic development in Indonesia.

Item Type: Conference or Workshop Item (Slide Presentation)
Additional Information: 7137/56679
Uncontrolled Keywords: crowdfunding,fintech, Indonesia
Subjects: H Social Sciences > HA Statistics > HA154 Statistical data
H Social Sciences > HG Finance
H Social Sciences > HG Finance > HG4001 Financial management. Business finance. Corporation finance.
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User: Dr Maya Puspa Rahman
Date Deposited: 19 May 2017 14:53
Last Modified: 19 May 2017 14:53
URI: http://irep.iium.edu.my/id/eprint/56679

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