Determinants of investment crowdfunding market development in Europe

The aim of this paper is to investigate the link between regulations and size of country‑level investment crowdfunding markets in Europe. The author discusses the outlook and potential drivers behind the size of investment crowdfunding markets across European countries, with deeper insight into a leading market of the United Kingdom. The con‑clusions are supported by a quantitative analysis. Key findings indicate that regulatory aspects of investment crowdfunding correlate, on average, stronger with market size than non‑regulatory factors. Besides, the size of population matters for crowdfund‑ing market volumes, and British regulatory framework for investment crowdfunding appears as an attractive role model to consider in Poland.