Abstract
The goal of the article is to consider peer-to-peer lending and its interaction with bank lending that creates an aggregate hybrid lending. The article’s objective is the research of development of P2P lending on the financial market and beyond, which is particularly relevant today. This goal is achieved by using the methods of evaluation and comparative analysis of different principles, which makes it possible to structure the general scientific understanding of P2P lending with the help of statistical methods. The study of the dynamics and structure of peer-to-peer lending in various countries for the period 2005-2016 led to the conclusion that in Ukraine, there is a decline in the share of bank lending in favor of peer-to-peer lending in the total amount of loans with an increasing role of non-bank and hybrid forms of len-ding in ensuring economic growth. Keywords: peer-to-peer lending, banking institutions, credit portfolios of banks, investments, financial intermediaries, financial intermediation. JEL Classification: A1, G21, G24
Highlights
The decline in popularity of financial and credit institutions among the population, their inability to meet credit demand of real enterprises under the conditions of inadequacy of investment resources within the national economy creates conditions for the emergence of new types of financial services (The Economist, 2013), which are capable of intensifying the participation of economic entities in the formation of investment flows
Given the necessity of developing new instruments to increase the volumes of internal investments in the national economy, especially from the perspectives of developing small and medium businesses, the research of the problems of P2P lending is of particular relevance and practical significance
Banks should actively participate in this mechanism of lending in order not to lose their positions in the near future. This can be done by introducing new hybrid forms of financial intermediation – multi-participative bank lending. This form of financial intermediation is a combination of characteristics of the traditional bank lending, bank intermediation and a new form of financial relations that have been formed outside the formal financial market – P2P lending
Summary
The decline in popularity of financial and credit institutions among the population, their inability to meet credit demand of real enterprises under the conditions of inadequacy of investment resources within the national economy creates conditions for the emergence of new types of financial services (The Economist, 2013), which are capable of intensifying the participation of economic entities in the formation of investment flows. The contemporary alternative type of financial intermediation is peer-to-peer lending, which is fairly widespread internationally, but which remains a new phenomenon on the domestic financial market making it necessary to study both the theoretical provisions in the functioning of the system of peer-to-peer lending and the improvement of practical peculiarities of its implementation. A new form of private lending is P2P projects. The idea of private P2P lending came from the US and now is very popular in the Western countries – this service is competing with banking lending on equal terms
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