Subject. This article discusses the prospects for the use of alternative monetary instruments and payment systems. Objectives. The article aims to explore the relationship between crisis periods and the active use of complementary currencies, and to assess their prevalence depending on the region scale. Methods. For the study, I used comparative and quantitative analyses. Results. The article finds that the use of certain complementary currencies promotes the development of small businesses and increases employment, reducing dependence on national currencies. Projects involving the use of complementary currencies are generally implemented in small towns. Relevance. The research findings can be used to develop or adjust comprehensive programmes for territorial development.
Keywords: complementary currency, sustainable development of regions, local economy, socioeconomic efficiency, France
References:
Lietaer B., Dunne J. Rethinking Money: How New Currencies Turn Scarcity into Prosperity. Berrett-Koehler Publishers, 2022, 283 p.
Hayek F.A. Denationalisation of Money. London, Institute of Economic Affairs, 1976, 107 p.
Klein B. The Competitive Supply of Money. Journal of Money, Credit and Banking, 1974, vol. 6, iss. 4, pp. 423–453. DOI: 10.2307/1991457
Stodder J. Corporate Barter and Economic Stabilisation. International Journal of Community Currency Research, 1998, vol. 2, iss. 1, pp. 1–11. DOI: 10.15133/j.ijccr.1998.005
Stodder J. Complementary Credit Networks and Macroeconomic Stability: Switzerland's Wirtschaftsring. Journal of Economic Behavior & Organization, 2009, vol. 72, iss. 1, pp. 79–95. URL: 10.1016/j.jebo.2009.06.002
Kalenov O.E., Kukushkin S.N. [Local currency as a method of economy intensification]. Vestnik Rossiiskogo ekonomicheskogo universiteta imeni G.V. Plekhanova, 2018, no. 1, pp. 100–106. (In Russ.) DOI: 10.21686/2413-2829-2018-1-100-106 EDN: YSJCQB
Valiullin H.H., Shiryaeva L.A. [Markets of alternative currencies and their payment platforms]. Audit i finansovyi analiz, 2019, no. 5, pp. 91–96. (In Russ.) EDN: ANJZHB
Seyfang G., Longhurst N. Growing Green Money? Mapping Community Currencies for Sustainable Development. Ecological Economics, 2013, vol. 86, pp. 65–77. EDN: 10.1016/j.ecolecon.2012.11.003
Marakhina I.V., Parkhimenka V.A. [Formal properties of a currency exchange system]. Belorusskii ekonomicheskii zhurnal, 2023, no. 3, pp. 127–141. (In Russ.) EDN: 10.46782/1818-4510-2023-3-127-141 EDN: BWOAIZ
Davletbavet R.Kh., Demina M.I., Isaychik K.F. [Model of sustainable development of local communities in the enterprise limited natural resources]. Fundamental'nye issledovaniya, 2016, no. 6-2, pp. 376–380. (In Russ.) EDN: WCMCIN
Shiryaeva L.A. [Digital development of complementary currency markets: legislative aspects]. Problemy ekonomiki i yuridicheskoi praktiki, 2023, vol. 19, no. 5, pp. 283–291. (In Russ.) EDN: 10.33693/2541-8025-2023-19-5-283-291 EDN: PMTHMC
Shiryaeva L.A. [Accounting for complementary currency transactions (the case for France)]. Analiz. Audit, 2024, vol. 11, no. 1, pp. 78–87. (In Russ.) DOI: 10.26794/2408-9303-2024-11-1-78-87 EDN: OVKVWD
Sacks J. The Money Trail. Measuring Your Impact on the Local Economy Using LM3. London, New Economics Foundation, 2002, 128 p.