Making sense of a crank case: monetary diversity in Argentina (1999–2003)

Georgina Gomez () and Paolo Dini

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: Based on empirical data, this study discusses the introduction, acceptance and circulation of two complementary currencies in Argentina that do not fit well in the main approaches to the nature of money. These two monetary circuits, provincial and community currencies, were introduced as units of account to denominate the value of debt and circulated as means of payment to overcome monetary stringency during the crisis of 1999-2003. After discussing several theories on the nature of money, we reflect on the institutional significance of currency circuits as concurrent and rather stable pairs of trade and money. We suggest that several theories of money need to be combined to account for the variety and heterogeneity of daily monetary practices in a broad spectrum of countries.

Keywords: Ontology of money; Monetary plurality; Community currencies; Subnational currencies; Argentina (search for similar items in EconPapers)
JEL-codes: E5 O2 Z1 (search for similar items in EconPapers)
Date: 2016-09-01
New Economics Papers: this item is included in nep-mac, nep-mon and nep-pay
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Citations: View citations in EconPapers (3)

Published in Cambridge Journal of Economics, 1, September, 2016, 40(5), pp. 1421-1437. ISSN: 0309-166X

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Journal Article: Making sense of a crank case: monetary diversity in Argentina (1999–2003) (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:67120

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