Complementary currency systems and their ability to support economic and social changes

Marie Fare () and Pepita Ould Ahmed ()
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Marie Fare: TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique

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Abstract: Complementary Currency Systems (CCS) are accounting systems that define local monetary spaces created by non-bank actors to pay for exchange of goods and services inside a trading network. This article aims to investigate the capability of complementary currency systems to foster social and economic changes. The authors use an analysis of the literature to examine the nature and diversity of CCS in terms of objectives, forms, modes of governance, and degrees of connection with political authorities and economic structures. They also assess the potential of CCS to support local economies based on social and environmental values, working to combat economic vulnerability and social exclusion, and examine how CCS challenge the conventional perception of money. The article ends by summarizing the challenges facing CCS, inquiring into the potential problems and benefits that a change of this sort could entail.

Keywords: complementarity currencies; local economy; social integration; solidarity; ecological values; economic practices; social change (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (14)

Published in Development and Change, 2017, 48 (5), pp.847-872. ⟨10.1111/dech.12322⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01623361

DOI: 10.1111/dech.12322

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