Local Currency Systems Research Articles

Money and the Regularisation of African Soldiers in the Early Phase of Italian Colonialism in Eritrea

The article focusses on transformations in the military labour regimes brought about by the recruitment of African soldiers during the early years of the Italian colony of Eritrea, by analysing colonial reports, correspondence and official regulations. On the one hand, it demonstrates that the lack of complete political control forced the Italians to adapt to the local multiple currency system for the building and maintenance of the indigenous corps. On the other hand, it shows that money was employed in colonial discourse and practice as a tool to facilitate the regularisation of indigenous soldiers.

The Complementary Currency Zielony in Poland and Its Importance for the Development of Local Economy Entities during the COVID-19 Pandemic Lockdown

The article aims to present how the COVID-19 pandemic lockdown affects the functioning and circulation of complementary currencies in entities that have joined the complementary currency system with a special focus on the complementary currency Zielony (PLZ) in Poland. The main research problem of the paper is formulated in the form of a question concerning the impact of the lockdown during the COVID-19 pandemic on the use of the Zielony in Poland in commercial transactions by entities belonging to the local currency system. In order to achieve the objective and solve the main problem, the article uses such research methods as: the method of critical analysis of literature, historical method, statistical method, comparative method, observational method, free expert interview, as well as analysis and synthesis, deduction and induction and abstraction. We conducted a critical analysis of the literature and analysis of statistical data of the complementary currency Zielony in Poland in the period from March 2015 to June 2021, and the results of the expert interview showed that this currency is not a tool to support the functioning of local economy entities during non-financial crises, such as COVID-19 pandemic. This is influenced by, among other things, full or partial lockdown and other restrictions on the functioning of commercial entities during a pandemic. The consequences of such solutions include the weakening of economic activity and a decrease in the value of turnover of entities operating in various sectors of the local economy, especially entities of a service nature, which constitute about 80% of the structure of the Zielony complementary currency system in Poland. The main conclusion resulting from the conducted research is as follows: the complementary currency Zielony in Poland can influence the creation of local entrepreneurship and sustainable development and support the activities of the sector of small- and medium-sized enterprises, but these benefits are possible to achieve primarily in conditions of stable and undisturbed functioning of the economy. The realization of the payment function of the complementary currency, the Zielony, and its use in payments of entities belonging to those industries covered by lockdown and other administrative restrictions is impossible (or insignificant) at this time due to the absence (or hindered) of its circulation in the economy. The research results and conclusions presented in the article meet the assumptions of the application objective and can provide the entities of the micro-, small- and medium-sized enterprise sector with knowledge about the dependencies resulting from the use of the complementary currency in the lockdown period by the entities that implement the assumptions of the system of complementary currencies.

Overcoming economic stagnation in low-income communities with programmable money

PurposeThe purpose of this study hopes to encourage further research into the topic of local currencies, as well as specific research into increasing the efficiency of these systems through the use of blockchain technology. There is currently a lack of available research into the topic, which poses barriers for those who wish to study it, so the paper provides a general overview to be used as a starting point for those wishing to broaden their knowledge of local currency systems while also introducing a working implementation of a proof-of-concept for the proposed system.Design/methodology/approachA literature review of available studies on local currencies is conducted to provide an overview of the current systems and their shortcomings. Subsequently, blockchain technology is briefly introduced and an Ethereum-based model is proposed, which helps overcome the problems identified. The section exploring the Ethereum-based model draws code written by the author to simulate the features.FindingsThe paper concludes that blockchain technology can significantly help improve efficiency, transparency and security of local currency systems, while also helping cut costs associated with the implementation of a complementary monetary system. In the medium-term, local currency systems will most likely use a blockchain protocol as the underlying technology for the network.Originality/valueLocal currencies are an understudied topic by itself and the intersection between them and blockchain is a nearly non-existent research space. Thus, the paper takes a multidisciplinary approach, aiming to bridge the fields of computer science and economics to provide a foundation for further research.

Money as a social relation beyond the state: a contribution to the institutionalist approach based on the Argentinian trueque.

This paper provides a contribution to the institutionalist approach to money through ethnographic research carried out in two local currency systems in Argentina (known as trueque). It argues that Argentinian local currencies must be considered as monies in their own right even if they differ from state and bank issued currencies, because they can be understood as systems of evaluation and settlement of debts denominated in a specific unit of account (the crédito). Money is said to be an ambivalent social relation because in the two cases studied it mediates very different dynamics, exacerbating inequality in one context and promoting collective emancipation in another. This difference is due to the kind of political communities that the crédito tends to forge. In both Rosario and Poriajhu, the political community is defined by a set of values that legitimizes ongoing monetary practices and institutions rather than the State's coercion.

地域運営における地域通貨 : マーケティング・ネットワークの枠組みによる考察

地域運営における地域通貨 : マーケティング・ネットワークの枠組みによる考察

The Making of a New Currency Politics Sphere: Exploring the Possibility of Complementary Economic through the Introduction of the Local Currency System

The Making of a New Currency Politics Sphere: Exploring the Possibility of Complementary Economic through the Introduction of the Local Currency System

The Complementary Currency as an Element of the Social Innovation in the Entrepreneurship

Abstract The article presents the complementary currency systems as an element of the social innovation in the entrepreneurship. It offers solution for the present economic problems created by the influence of the economic crisis. The important factors are high unemployment rate and exclusion of the marginalized social groups. The evaluation of the complementary currency systems and confrontation with the empirical studies of foreign and domestic authors presents the knowledge that the local currency systems especially in the time of economic crisis have an important contribution for all interested groups - entrepreneurship sector, public sector and private sector in the local economy.

Motivations and Differential Participation in a Community Currency System: The Dynamics Within a Local Social Movement Organization1

Community currency is an understudied, alternative social movement. These local networks are grassroots, collective efforts to form an alternative market with the hopes of empowering the economically marginalized and building social capital. Original data collected from members of a local currency system are employed to investigate their motivations to join and the congruence between motivating factors and various forms of participation. Four categories of motivations are identified and multivariate models are estimated to assess which are the most salient predictors of differential participation. The results provide some support for the congruence hypothesis. As Knoke (1988) predicted, member motivations play a role in shaping forms of participation. This evidence is used to draw larger implications for social movement research.

What was the Deal for the Participants of the Argentine Local Currency Systems, the Redes de Trueque?

Local complementary currency systems (LCCSs), like the Local Exchange Trading System scheme in the English-speaking world, are one of the alternative economies organised to overcome the exclusionary aspects of the regular market economy and support those short of money. I analyse the benefits for the poor and unemployed of the Argentine variant, called Clubes de Trueque. I conclude that the Clubes de Trueque were a meeting point of social strata and gender groups. They became a market space “for us, women”, rather than a second-class market “for us, the poor”. In economic terms they facilitated the access to goods and services for the disenfranchised middle class and the unemployed, but did not correct the exclusionary mechanisms that affect the poorest of the poor. These findings suggest that LCCSs can help some low-income groups to protect and improve their lifestyles but are not a general tool for poverty reduction.

Selective Spatial Closure and Local Economic Development: What Do We Learn from the Argentine Local Currency Systems?

Summary This paper discusses local currency systems as an instrument of selective spatial closure to mitigate impacts of externally induced changes and to promote endogenous local economic development. Drawing on data collected in Argentina, it was found that local currency systems provided relatively protected economic spaces, thus enabling poor households—and especially women—to launch micro-enterprises and diversify income sources. They also supported existing enterprises by offering an emergency market outlet and, when combined with other measures, by building local trading and production networks. Following recent theory on local economic development, the Argentine case represents an example of local economic regeneration.

INDISPENSABLE CONDITIONS OF “MANAGEMENT OF REGIONAL RESOURCES” WITH CITIZEN PARTICIPATION

The purpose of this thesis is to clarify indispensable conditions of “Management of Regional Resources” with constant citizen participation. We take a case utilizing a local currency system to form spheres of interactions of regional resources and citizens, and examined whether the system functioned effectively.As a result, as well as five known conditions, we find that it is necessary to work the management scheme that other indispensable conditions, reduction of burden to costs and creation of friendship, are satisfied. And we conclude that the system function to satisfy every conditions.

New Strategies for Structuring Society from a Cash-flow Paradigm

A system of economic analysis based on cash-flows rather than profit is presented as a basis for integrating the economic values obtained from tenure (ownership, control or use of assets) with the values obtained from production and exchange of goods and services. The paper indicates how the integration of tenure and trade values provides a basis for analysing and designing institutional structures to create a more efficient, equitable and self-correcting economic system. A feature of the paradigm is that the structure of property rights, governance and money can become a variable, subject to analysis, rather than a feature which is assumed constant and so omitted from evaluation. Markets are identified as one of four different communication and control mechanisms of social integration. The other three being hierarchies (command), symbolic (semiotic) and the natural senses. The contribution of each of the four mechanisms is considered to compare various types of societies from those existing over 10,000 years ago to current forms of capitalism and socialism. The paper argues that to create a self-correcting, ecological, sustainable society, the structure of property rights, governance and money would need to follow the dynamic feed-back control architecture found in living things and be guided by the characteristics of the host bio-region. This would create a Third Way and a more democratic form of capitalism. To follow the example of nature, the perpetual, monopoly and static rights to property and money would need to be replaced with time limited, competing, and dynamic rights. Corporate bodies would then obtain the attributes of living organisms with all users and/or stakeholders of all types of property obtaining appropriate ownership and control entitlements. This would result in multinational corporations and central banks being replaced with many decentralised locally owned and controlled competing institutions. To maintain its existence, the World Bank would need to change its role from distributing credit to educating communities how to build and manage their own local banking and currency systems based on ecological principles.

Czech LETS (empirical study on local complementary currencies in the Czech Republic)

The presented theoretical reflection of the institutionalization of money shows that the given features of money are always linked to certain social conditions. Nowadays there are visible several attempts to establish local currencies, which would work as a complement of national currencies and which be able to fulfill other functions than the purely economic ones. The circulation of the “own” currency brings all kinds of benefits to community members. The goal of this work is to elucidate in empirical perspective mechanism of the local currency systems operating in the Czech Republic. Results of the research show a peculiar form of the LETS, which tend to divert from the rather formalized trading systems known in the Western Europe.

人間関係構築手段としての地域通貨システムに関する研究

Historically, Local Currency Systems (LCS) were founded in 1930s when economic depression spread widely around the world to support the local economy. However, currently, LCS are seen as a tool to strengthen solidarity in the local community by solving social welfare issues and environmental issues uncovered by the state.This study aims to clarify the social functions for participants in LCS through a case study of Local Exchange Trading Systems (LETS) in Sweden. The focus will be on the role of personal relationship networks. This study examines an in-depth interview with the organizers of seven LETS associations in three cities in Sweden (Stockholm, Göteborg, and Lund) to reveal their purpose. A questionnaire survey was done in BYTS, the oldest and largest LETS to date in Sweden, to test the realization of the previous revealed purposes. Additionally, we use the methods of Social Network analysis to grasp the characteristics of personal relationship networks in LCS. The study can show that one of the main aims of these LETS—to develop social networks—is indeed accomplished. Not only was the social functions of the LETS a motivation for the effective participants to join BYTS, but they also could establish personal relationships. The opportunity to make friends was especially attractive for low-income, low-educated and retired persons. Furthermore, we identify four characteristics of LCS networks ; such as expanding peer to peer networks without mediation of the office (a network center) and creating the system for evaluation of goods and services which are hard to evaluate in the national currency system of our dehumanized society.The result suggests that LCS can contribute to visualize various potential needs embedded in the participants' mundane lives which usually are ignored by the public policy and the market through promoting peer to peer reciprocal exchanges, and therefore we can conclude that personal relationship networks created by using LCS has the important function to revitalize local community.

Local Currency Systems during the Qing Period : Dongqian

Local Currency Systems during the Qing Period : Dongqian

Making Geographies and Histories? Constructing Local Circuits of Value

Reflecting on findings from research conducted in the United Kingdom, we consider some implications for an understanding of economic geographies of the emergence of local currency systems (LCSs) within developed economies. LCSs are founded on the creation of local currencies and driven by local—but contested—circuits of consumption, exchange, and production. In this paper we are concerned with three interrelated sets of issues: the intersections of social and material relations and practices in the construction of economic geographies; the possibilities—constrained by these intersections—of creating alternative economic geographies; and the consequent possibilities of contributing to economic proliferation. We distinguish between three main forms of LCS—LETSystems, LETS schemes, and Time Dollars—differentiated along a range of institutional, organisational, ethical, and moral dimensions. These LCSs reflect and illustrate the diversity of meanings, understandings, and intentions brought to bear upon economic geographies. The existence—even if only temporary—of LCSs is testament to the (limited) possibilities of local economic self-determination and organisation; but their material ineffectiveness, decline, and uneven geographical spread reflect their formative links with mainstream practices and social relations and their internal contradictions and barriers. These characteristics illustrate the vulnerabilities inherent in all economic geographies and not just in those that are locally constructed.

Defending Communities:Local Exchange Trading Systems From an Environmental Perspective

Summary Much of the academic literature on globalisation and resistance has tended to focus narrowly on the opposition of states against markets, of Keynesian welfare economics against the neo-liberal model behind globalisation. This literature obscures the fact that other forms of resistance are emerging at the local level. These developments are largely spontaneous, and insofar as they reflect a political agenda, it is one which is derived from an alternative, Green perspective rather than traditional social democracy. Local currency systems can be seen as one such form of resistance. In this article I consider the environmental credentials of local exchange trading systems (LETS) and assess their potential to build an alternative economic model at the local level. I conclude by discussing some of the obstacles which face LETS development and consider how they may be addressed.

The Dual Currency System in China: Cost and Benefit

The People's Republic of China has a dual local currency system. The common currency for the Chinese is the renminbi (RMB). Foreigners are expected to use the Foreign Exchange Certificate (FEC). The FECs were introduced on April 1, 1980.

Do the Poor Pay More? Retail Food Prices in Northeast Brazil

Previous articleNext article No AccessDo the Poor Pay More? Retail Food Prices in Northeast BrazilPhilip Musgrove and Osmil GalindoPhilip Musgrove Search for more articles by this author and Osmil Galindo Search for more articles by this author PDFPDF PLUS Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinkedInRedditEmail SectionsMoreDetailsFiguresReferencesCited by Economic Development and Cultural Change Volume 37, Number 1Oct., 1988 Article DOIhttps://doi.org/10.1086/451709 Views: 4Total views on this site Citations: 11Citations are reported from Crossref Copyright 1988 The University of ChicagoPDF download Crossref reports the following articles citing this article:Menggen Chen, D.S. Prasada Rao Regional Poverty PPPs in China: Experimental Estimation and Application, The Singapore Economic Review (Jul 2022).https://doi.org/10.1142/S0217590822500606John Gibson, Bonggeun Kim Economies of scale, bulk discounts, and liquidity constraints: comparing unit value and transaction level evidence in a poor country, Review of Economics of the Household 16, no.11 (Sep 2017): 21–39.https://doi.org/10.1007/s11150-017-9388-7John Gibson, Bonggeun Kim Do the urban poor face higher food prices? Evidence from Vietnam, Food Policy 41 (Aug 2013): 193–203.https://doi.org/10.1016/j.foodpol.2013.05.003John Gibson The crisis in food price data, Global Food Security 2, no.22 (Jul 2013): 97–103.https://doi.org/10.1016/j.gfs.2013.04.004Georgina M Gómez What was the Deal for the Participants of the Argentine Local Currency Systems, the Redes de Trueque?, Environment and Planning A: Economy and Space 42, no.77 (Jan 2010): 1669–1685.https://doi.org/10.1068/a42309N. R.M. Pouw Food Priorities and Poverty: The Case of Smallholder Farmers in Rural Uganda, Journal of African Economies 18, no.11 (Jun 2008): 113–152.https://doi.org/10.1093/jae/ejn010Christophe Muller Prices and living standards: evidence for Rwanda, Journal of Development Economics 68, no.11 (Jun 2002): 187–203.https://doi.org/10.1016/S0304-3878(02)00011-1Vijayendra Rao PRICE HETEROGENEITY AND "REAL" INEQUALITY: A CASE STUDY OF PRICES AND POVERTY IN RURAL SOUTH INDIA, Review of Income and Wealth 46, no.22 (Jun 2000): 201–211.https://doi.org/10.1111/j.1475-4991.2000.tb00955.xKathryn Graddy, Diana C. Robertson Fairness of Pricing Decisions, Business Ethics Quarterly 9, no.22 (Jan 2015): 225–243.https://doi.org/10.2307/3857473Fernando M. Dall'Acqua Economic Adjustment and Nutrition Policies: Evaluation of a School-Lunch Programme in Brazil, Food and Nutrition Bulletin 13, no.33 (Nov 2018): 1–8.https://doi.org/10.1177/156482659101300315Philip Musgrove Do Nutrition Programs Make a Difference? The Case of Brazil, International Journal of Health Services 20, no.44 (Jan 1995): 691–715.https://doi.org/10.2190/W6EU-5DGB-EX4R-U7W2

Information, Multiprice Search, and Cost-of-Living Index Theory

Previous articleNext article No AccessInformation, Multiprice Search, and Cost-of-Living Index TheoryPaul M. Anglin and Michael R. BayePaul M. Anglin Search for more articles by this author and Michael R. Baye Search for more articles by this author PDFPDF PLUS Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinkedInRedditEmail SectionsMoreDetailsFiguresReferencesCited by Journal of Political Economy Volume 95, Number 6Dec., 1987 Article DOIhttps://doi.org/10.1086/261510 Views: 6Total views on this site Citations: 12Citations are reported from Crossref Copyright 1987 The University of ChicagoPDF download Crossref reports the following articles citing this article:Timothy J. Richards, Stephen F. Hamilton, William Allender Search and price dispersion in online grocery markets, International Journal of Industrial Organization 47 (Jul 2016): 255–281.https://doi.org/10.1016/j.ijindorg.2016.05.004Georgina M Gómez What was the Deal for the Participants of the Argentine Local Currency Systems, the Redes de Trueque?, Environment and Planning A: Economy and Space 42, no.77 (Jan 2010): 1669–1685.https://doi.org/10.1068/a42309Vera Lucia Fava Price dispersion and price indexes, Applied Economics 42, no.11 (Jan 2010): 23–36.https://doi.org/10.1080/00036840701579168Christophe Muller Prices and living standards: evidence for Rwanda, Journal of Development Economics 68, no.11 (Jun 2002): 187–203.https://doi.org/10.1016/S0304-3878(02)00011-1J.Rupert J. Gatti Multi-Commodity Consumer Search, Journal of Economic Theory 86, no.22 (Jun 1999): 219–244.https://doi.org/10.1006/jeth.1999.2519W. E. Diewert, Robert J. Gordon Price and Volume Measures in the System of National Accounts, (Jan 1996): 237–297.https://doi.org/10.1007/978-94-009-1798-9_8John McMillan, Michael Rothschild Chapter 27 Search, (Jan 1994): 905–927.https://doi.org/10.1016/S1574-0005(05)80059-1Michael R. Baye, Dennis W. Jansen, Jae-Woo Lee Advertising effects in complete demand systems, Applied Economics 24, no.1010 (Jul 2006): 1087–1096.https://doi.org/10.1080/00036849200000001Marshall Reinsdorf Changes in comparative price and changes in market share. Evidence from the BLS point-of-purchase survey, Managerial and Decision Economics 13, no.33 (May 1992): 233–245.https://doi.org/10.1002/mde.4090130307Robert A. Mittelstaedt, Robert E. Stassen Shopping behavior and retail merchandising strategies, Journal of Business Research 21, no.33 (Nov 1990): 243–258.https://doi.org/10.1016/0148-2963(90)90031-8Bernard M.S. Van Praag, Michael R. Baye The poverty concept when prices are income-dependent, Journal of Econometrics 43, no.1-21-2 (Jan 1990): 153–166.https://doi.org/10.1016/0304-4076(90)90113-8Paul M. Anglin, Michael R. Baye Information gathering and cost of living differences among searchers, Economics Letters 28, no.33 (Jan 1988): 247–250.https://doi.org/10.1016/0165-1765(88)90124-3