FINANCIAL INNOVATION IN CREATIVE SECTOR: TOWARDS RESPONSILBE INVESTMENT AND FINANCING

This paper deals with the genesis of financing the creative sector and with new approaches, practices, and principles of financing and investing in this sector. In the first part of the paper, a brief historical retrospective of models of financing this sector is given with a focus on their characteristics. The second part of the paper explains the concepts of fundamental characteristics and practices of public and private financing, as well matching founds models for financing culture. The last part of the paper analyzes responsible financing, especially their fundamental principles and financial innovations in culture on systematic level.