Call for Papers

The banking industry has traditionally been shaped by the interplay between “innovations” and regulatory trends. The global and sovereign-debt crisis we have observed from 2007 and the harsher regulatory reaction have impacted on banks capacity and willingness to direct financial flows to the real economy in appropriate amounts. The result has been an extremely feeble, and slow “creditless” recovery, that not even the pursuit of a historically low interest-rate monetary policy and QE appear so far capable of influencing. The market’s reaction to this state of affairs has been to develop alternative or complementary ways to commercial banking to channel funds where needed, that is to households, firms and infrastructure projects. Examples are (i)  alternative financing solutions: mini-bonds, SME guarantees, Start-up and Venture Capital/Private Equity, Business Angel financing, payment-by-result bonds, securitization, microfinance and (ii) Digital finance like P2P lending and crowdfunding,  The European Commission’s with the Capital Market Union project plan to foster the diversification of funding sources for enterprises, in particular SMEs.

The organizers encourage submissions of papers on any topic within the overall theme of the conference and in the following areas in particular:

• How alternative and digital financing interplay with the standard funding channels?
• Are alternative financing and financial innovations socially useful and valuable in solving the problem of supplying “quality” resources to the most vulnerable, financially deprived (e.g. households; start-ups; young entrepreneurs) and growth-enhancing (e.g. SMEs; infrastructures) sectors of the economy, thereby supporting social inclusion, sustainable growth and employment?
• Do alternative and digital financial products and credit innovations offer an attractive risk/reward trade-off to potential investors, be consistent with their ALM requirements, yield expectations, risk appetite and wealth preserving objectives.
• What should be the role of the public sector in promoting the emergence and development of alternative financing channels for the real economy?
• What is the role of innovative monetary policies (QE) in promoting these alternative and digital financing channels for the real economy?
• Do alternative and digital financing channels pose the same or bigger potential threats to financial stability? Should they be covered by adequate supervisory frameworks, or else justifiably expect a more lenient treatment

Those wishing to present a paper at the Conference should submit by May 15, 2016 to the address given below (preferably in electronic format).

Please indicate to whom correspondence should be addressed.

Decisions regarding acceptance will be made by July 15, 2016.

The final version of accepted papers must be received by August 31, 2016.

Please send papers to:
GRETA Associati
San Polo, 2605 - 30125 Venice, ITALY
Phone : +39 041 5238178
Fax : +39 041 5286166
E-mail: credit@greta.it