Open AccessCOMPARATIVE CHARACTERISTICS OF THE AMERICAN AND BRITISH PEER-TO-PEER LENDING MARKETS
Author(s) -
T. G. Bondarenko,
Olga Aleksandrovna Zhdanova,
T. P. Maksimova
Publication year - 2019
Publication title -
federalizm
Language(s) - English
Resource type - Journals
ISSN - 2073-1051
DOI - 10.21686/2073-1051-2019-2-172-192
Subject(s) - peering , legislature , peer to peer , order (exchange) , business , financial market , point (geometry) , economics , political science , finance , distributed computing , geometry , the internet , mathematics , world wide web , computer science , law
Peering lending arose as a response to the challenge of time at the moment when banks showed their weak points: extreme over-regulation and sluggishness. It is the reason leading to the emergence in the global financial market of a new mechanism — peertopeer lending, which requires a comprehensive study, which is advisable to start with an analysis of peer-to-peer lending markets in two founding countries — the United Kingdom and the United States. The stages of development of the peering mechanism in these countries reflect the trends of the world market as a whole. The structural and dynamic analysis made it possible to identify general trends in the development of markets in terms of slowing their growth rates over the next five years, which indicates that markets have reached their maximum and the need to find new ways of qualitative development in order to increase the numbers. Analysis of differences in legislative regulation of markets showed that the main differences are based on the use of different peer-to-peer crediting models in the UK and the USA, which in turn leads to nonidentical regulatory objects from a legal point of view, although in general the concept of peer-to-peer lending does not change.