Social and solidarity finance: A conceptual approach |
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| Institution: | 1. University of Ottawa, Canada;2. Royal Military College of Canada, Canada;3. Carleton University, Canada;1. Department of Business and Economics, Ursinus College, 601 East Main Street, Collegeville, PA 19426, United States;2. Department of Economics, Fordham University, 113 West 60th Street, NY, NY 10023, United States;1. University of Evry, France;2. ESSCA School of Management, France;1. University of Evry, 2, rue Facteur Cheval, 91025 Evry, France;2. ESSCA – School of Management, Strategy and Management, 55 quai Alphonse Le Gallo, 92513 Boulogne-Billancourt Cedex, France;3. University of Minho, Department of Economics and Economic Policies Research Unit (NIPE), Campus of Gualtar, 4710-057 Braga, Portugal;4. London School of Economics, LSE Alumni Association, Houghton Street, London WC2 2AE, United Kingdom;1. IPAG Business School, IPAG Lab, 184 Boulevard Saint-Germain, 75006 Paris, France;2. Lombard Odier Asset Management, and University Paris 1 (CES), France;1. Department of Economics, University of Calgary, Calgary, Alberta T2N 1N4, Canada;2. Department of Economics and Finance, University of South Alabama, Mobile, AL 36688, United States |
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| Abstract: | An analysis of the social- and solidarity-finance system of relationships, which has characteristics that differ from those of other financial intermediaries, underpins the conceptual approach of this article. Social and solidarity finance constitutes a set of interdependent financial and social relationships, and partnerships between individuals and organisations, that mesh into an organised whole.This article makes use of institutional economics to understand those mechanisms of interaction between individuals, organisations and institutions that are not strictly economic. First, we offer a new conceptual framework on social and solidarity finance from an institutional point of view. Then, based on this framework, we outline the sustainability of alternative finance and its ability to respond to specific entrepreneurship needs. Finally, we present the French situation regarding social and solidarity finance to highlight the main characteristics of alternative finance. |
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| Keywords: | Alternative finance Credit crunch Institutional economics |
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