About crowdfunding, with special regard to the institution of medical crowdfunding
DOI:
https://doi.org/10.32978/sjp.2025.019Keywords:
crowdfunding, crowdfunding in healthcare, Jobs ActAbstract
The financial crisis that erupted at the end of 2008 in the wake of the bankruptcy of the American bank Lehman Brothers resulted in the worst economic downturn worldwide since the Great Depression of the early 1930s, which brought with it a critical and trying period for states, businesses and the population alike, in which falling demand, regionally varying but increasing unemployment and more than half a decade of economic stagnation before the end of the crisis had to be Face.
“Crowdfunding”, the subject of our article, became widespread due to the lack of funds that developed as a result of the 2008 crisis, first in the United States.
The institution was essentially developed as a result of technological development and capital market imbalances as a result of business financing innovation in the midst of the economic shocks of the 21st century. In order to present the institution at a sufficient level and to deepen its knowledge, we have divided our study into two main parts. Thus, the primary objective of the first part is to provide a comprehensive picture of the form of financing under consideration, defining the basic concepts and expressions, presenting the most popular models of the scheme that differ from traditional forms of bank and capital market financing, examining all its advantages and disadvantages in an unbiased manner, and examining the positions of the European Commission and the European Banking Authority on the subject. The study of the regulations and directives born from the American JOBS Act and the European Union’s regulatory efforts and their effects is a particularly important part, thus creating the necessary theoretical background that allows the understanding of the rest of the study. The second part attempts to analyse medical crowdfunding in the healthcare sector, covering the reasons for the emergence of crowdfunding for healthcare expenditures, its most important forms and its role in the highly centralised healthcare system with a single health insurance fund characteristic of Hungary.
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