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Complementary Currency Systems and their Ability to Support Economic and Social Changes
Author(s) -
Fare Marie,
Ahmed Pepita Ould
Publication year - 2017
Publication title -
development and change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.267
H-Index - 93
eISSN - 1467-7660
pISSN - 0012-155X
DOI - 10.1111/dech.12322
Subject(s) - currency , vulnerability (computing) , sort , politics , corporate governance , local currency , diversity (politics) , economics , business , perception , public economics , economic system , sociology , finance , macroeconomics , political science , computer science , computer security , information retrieval , neuroscience , biology , anthropology , law
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.