The Function of Local Currencies in Local Economic Development
AbstractComplementary currencies refer to a monetary system that enhances regional economic activities and cooperations. The aim of this research is to provide an overview of and evaluate local currencies that are less known in Hungary from financial and regional economic aspects through two initiatives, one foreign initiative and one nascent Hungarian initiative. The author tries to find answers to questions concerning how local currencies serve social and economic development and what chances they have in our country. The analysis is interdisciplinary and based on case studies. The author emphasises the socio-political, regional essentials and legal background of the topic. The novelty of the study lies in the fact that no comprehensive publications have been issued in connection with local currencies earlier in Hungary that analyse them from different views of scientific fields. The comprehension of the mechanism and effects of the system can be a starting-point for experts who deal with the idea of establishing local currencies as well.
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Bibliographic InfoArticle provided by State Audit Office of Hungary in its journal Public Finance Quarterly.
Volume (Year): 56 (2011)
Issue (Month): 1 ()
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Web page: http://www.asz.hu
local currency; regionalisation; Chiemgauer; Kékfrank;
Find related papers by JEL classification:
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
- R51 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Finance in Urban and Rural Economies
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