Publication details
Social Innovation Types in Consumer Protection in Alternative Financial Services after the Great Recession
| Authors | |
|---|---|
| Year of publication | 2016 |
| Type | Article in Proceedings |
| Conference | Proceedings of the 20th International Conference Current Trends in Public Sector Research |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | Social innovation; Non-profit organization; Consumer protection; Alternative financial services |
| Description | The impact of the Great Recession on many aspects of our societies, politics and economies has become a frequent theme of research; however, there are still many empty spaces left for the study of economically and politically relevant issues. One of these has been the consequences of recent economic crisis for the social innovation patterns of the field of Consumer Protection in Alternative Financial Services (CPAFS). There are several reasons for this focus. First, the field of Alternative Financial Services (AFS) has recently become one of the quickly developing areas of economic life and existing studies suggest that it was the recession which sped up the transformations and innovations in the field. At the same time, the crisis has had a large socio-economic impact on societies and citizens. Given the previous studies on the characteristics and structure of consumers of AFS, we expect that the crisis affected also the demand for AFS, often at the expense of the traditional banking services, and pushed the demand for social innovations in CPAFS. The combination of economic recession, dynamically developing AFS sector and rising demand for AFS from the part of low-income citizens give rise to the question of what major recent types of social innovations may be observed in the area of CPAFS? |