Toward New Forms of Cash-Based Social Support for Territorial Resilience? An Examination of Local Currency Initiatives under Covid

Jerome Blanc and Marie Fare ()
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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: Since the 2000s, a few countries have witnessed the emergence of local currency initiatives (LCs) designed as transformative programs with a medium and long-term perspective. The Covid crisis of 2020-2021 prompted a shift toward addressing short-term needs. This paper considers LCs from a territorial resilience standpoint. It presents an analysis of 18 cases in French-speaking regions. Most of them pre-existed the pandemic and launched initiatives to cope with its challenges. A few others were initiated during the pandemic and for its specific challenges. The paper contrasts three forms of resilience: absorptive, adaptive, and transformative. It demonstrates how LCs typically support territorial resilience projects from a transformative standpoint. The scope and evolution of the 18 Covid-related initiatives show that cooperation between local authorities and monetary nonprofits resulted in a more effective response to the short-term challenges and fostered connections that can sustain the adaptive and transformative forms of territorial resilience.

Keywords: Local currencies; territorial resilience; Covid crisis; shock absorption; transformation; covid; COVID-19 (search for similar items in EconPapers)
Date: 2025
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Published in Review of Social Economy, 2025, Published online: 31 Jan 2025, pp.1-25. ⟨10.1080/00346764.2025.2453140⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-04988062

DOI: 10.1080/00346764.2025.2453140

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