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Government-incentivized crowdfunding for one-belt, one-road enterprises: design and research issues

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  • Chang Heon Lee

    (City University of Hong Kong)

  • J. Leon Zhao

    (City University of Hong Kong)

  • Ghazwan Hassna

    (City University of Hong Kong)

Abstract

Background Local, state, and federal governments have started exploring the potential of crowdfunding in transforming conventional financing methods used previously to fund public projects and services. While crowdfunding has been applied to improve government financing methods in recent years, little is known about how this new model can be extended and applied in international collaboration among governmentincentivized projects. Methods In this paper, we explores what roles crowdfunding can play as a financial intermediary to support government-incentivized multinational projects in the context of the One-Belt, One-Road initiative. Results We conjecture that crowdfunding can offer an efficient mechanism to improve participatory budgeting and facilitate private–public collaboration while providing a high level of transparency in the budget decision process. Conclusions The paper also discusses research issues and challenges, including features of the crowdfunding platforms that can affect the adoption and use of the crowdfunding platforms in multinational initiatives.

Suggested Citation

  • Chang Heon Lee & J. Leon Zhao & Ghazwan Hassna, 2016. "Government-incentivized crowdfunding for one-belt, one-road enterprises: design and research issues," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-14, December.
    • Handle: RePEc:spr:fininn:v:2:y:2016:i:1:d:10.1186_s40854-016-0022-0
    DOI: 10.1186/s40854-016-0022-0
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    3. Sounman Hong & Jungmin Ryu, 2019. "Crowdfunding Public Projects: Collaborative Governance for Achieving Citizen Co-funding of Public Goods," Papers 1902.02480, arXiv.org.
    4. De Crescenzo, Veronica & Botella-Carrubi, Dolores & Rodríguez García, María, 2021. "Civic crowdfunding: A new opportunity for local governments," Journal of Business Research, Elsevier, vol. 123(C), pages 580-587.
    5. Laura Grassi & Simone Fantaccini, 2022. "An overview of Fintech applications to solve the puzzle of health care funding: state-of-the-art in medical crowdfunding," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-27, December.
    6. Francesca Simeoni & Veronica De Crescenzo, 2018. "Ecomuseums (on Clean Energy), Cycle Tourism and Civic Crowdfunding: A New Match for Sustainability?," Sustainability, MDPI, vol. 10(3), pages 1-16, March.

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