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Growing green money? Mapping community currencies for sustainable development

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  • Seyfang, Gill
  • Longhurst, Noel

Abstract

Parallel sustainable monetary systems are being developed by civil society groups and non-governmental organisations (NGOs), informed by ecological economics perspectives on development, value, economic scale and growth, and responding to the unsustainability of current global financial systems. These parallel systems of exchange (or community currencies) are designed to promote sustainable development by localising economic development, building social capital and substituting for material consumption, valuing work which is marginalised in conventional labour markets, and challenging the growth-based monetary system. However, this international movement towards community-based ecological economic practices, is under-researched. This paper presents new empirical evidence from the first international study of the scope and character of community currencies. It identifies the diversity, scale, geography and development trajectory of these initiatives, discusses the implications of these findings for efforts to achieve sustainable development, and identifies future research needs, to help harness the sustainability potential of these initiatives.

Suggested Citation

  • Seyfang, Gill & Longhurst, Noel, 2013. "Growing green money? Mapping community currencies for sustainable development," Ecological Economics, Elsevier, vol. 86(C), pages 65-77.
  • Handle: RePEc:eee:ecolec:v:86:y:2013:i:c:p:65-77
    DOI: 10.1016/j.ecolecon.2012.11.003
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    References listed on IDEAS

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    1. Gill Seyfang, 2003. "Growing cohesive communities one favour at a time: social exclusion, active citizenship and time banks," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 27(3), pages 699-706, September.
    2. Martínez-Alier, Joan & Pascual, Unai & Vivien, Franck-Dominique & Zaccai, Edwin, 2010. "Sustainable de-growth: Mapping the context, criticisms and future prospects of an emergent paradigm," Ecological Economics, Elsevier, vol. 69(9), pages 1741-1747, July.
    3. Michael S Evans, 2009. "Zelizer's Theory of Money and the Case of Local Currencies," Environment and Planning A, , vol. 41(5), pages 1026-1041, May.
    4. Gill Seyfang, 2001. "Working for the Fenland Dollar: An Evaluation of Local Exchange Trading Schemes as an Informal Employment Strategy to Tackle Social Exclusion," Work, Employment & Society, British Sociological Association, vol. 15(3), pages 581-593, September.
    5. Jérôme Blanc, 2011. "Classifying "CCs": Community, complementary and local currencies' types and generations," Post-Print halshs-00583587, HAL.
    6. Michael S Evans, 2009. "Zelizer’s theory of money and the case of local currencies," Environment and Planning A, Pion Ltd, London, vol. 41(5), pages 1026-1041, May.
    7. Victor, Peter A. & Rosenbluth, Gideon, 2007. "Managing without growth," Ecological Economics, Elsevier, vol. 61(2-3), pages 492-504, March.
    8. Sanne, Christer, 2002. "Willing consumers--or locked-in? Policies for a sustainable consumption," Ecological Economics, Elsevier, vol. 42(1-2), pages 273-287, August.
    9. Lee Gregory, 2009. "Spending Time Locally: The Benefit of Time Banks for Local Economies," Local Economy, London South Bank University, vol. 24(4), pages 323-333, June.
    10. Jérôme Blanc, 2010. "Community and complementary currencies," Post-Print halshs-00583590, HAL.
    11. Gill Seyfang, 2001. "Community currencies: small change for a green economy," Environment and Planning A, Pion Ltd, London, vol. 33(6), pages 975-996, June.
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    Citations

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    Cited by:

    1. Málovics, György & Dombi, Judit, 2015. "A növekedésen túl - egy új irányzat hozzájárulása a fenntarthatósági vitához
      [Beyond growth - the contribution of a new direction to the debate on sustainability]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(2), pages 200-221.
    2. repec:eee:ecolec:v:140:y:2017:i:c:p:123-135 is not listed on IDEAS
    3. repec:eee:ecolec:v:146:y:2018:i:c:p:273-281 is not listed on IDEAS
    4. Michel, Arnaud & Hudon, Marek, 2015. "Community currencies and sustainable development: A systematic review," Ecological Economics, Elsevier, vol. 116(C), pages 160-171.
    5. Armon Rezai & Sigrid Stagl, 2016. "Ecological Macreconomics: Introduction and Review," Ecological Economics Papers ieep9, Institute of Ecological Economics.
    6. Rohman, Ibrahim Kholilul & Bohlin, Erik, 2014. "Decomposition analysis of the telecommunications sector in Indonesia: What does the cellular era shed light on?," Telecommunications Policy, Elsevier, vol. 38(3), pages 248-263.
    7. Russ, Meir, 2016. "The probable foundations of sustainabilism: Information, energy and entropy based definition of capital, Homo Sustainabiliticus and the need for a “new gold”," Ecological Economics, Elsevier, vol. 130(C), pages 328-338.
    8. Fraňková, Eva & Fousek, Jan & Kala, Lukáš & Labohý, Jan, 2014. "Transaction network analysis for studying Local Exchange Trading Systems (LETS): Research potentials and limitations," Ecological Economics, Elsevier, vol. 107(C), pages 266-275.
    9. Strunz, Sebastian & Bartkowski, Bartosz & Schindler, Harry, 2015. "Is there a monetary growth imperative?," UFZ Discussion Papers 5/2015, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
    10. Heshmati, Almas, 2014. "An Empirical Survey of the Ramifications of a Green Economy," Working Paper Series in Economics and Institutions of Innovation 356, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    11. Ariane TICHIT & Clément MATHONNAT & Diego Sébastien LANDIVAR, 2015. "Classifying Non-banking Monetary Systems using Web Data," Working Papers 201530, CERDI.
    12. repec:eee:ecoser:v:5:y:2013:i:c:p:102-109 is not listed on IDEAS
    13. Joutsenvirta, Maria, 2016. "A practice approach to the institutionalization of economic degrowth," Ecological Economics, Elsevier, vol. 128(C), pages 23-32.
    14. Joachain, Hélène & Klopfert, Frédéric, 2014. "Smarter than metering? Coupling smart meters and complementary currencies to reinforce the motivation of households for energy savings," Ecological Economics, Elsevier, vol. 105(C), pages 89-96.
    15. Alexandra Köves & Gábor Király & György Pataki & Bálint Balázs, 2013. "Backcasting for Sustainable Employment: A Hungarian Experience," Sustainability, MDPI, Open Access Journal, vol. 5(7), pages 1-15, July.
    16. Mock, Mirijam & Omann, Ines & Rauschmayer, Felix & Fuchs, Daniela, 2013. "Do community currencies enhance sustainable quality of life?," UFZ Discussion Papers 16/2013, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
    17. Oliver Sanz, Esther, 2016. "Community currency (CCs) in Spain: An empirical study of their social effects," Ecological Economics, Elsevier, vol. 121(C), pages 20-27.
    18. Camille Meyer & Marek Hudon, 2017. "Alternative organizations in finance: commoning in complementary currencies," Working Papers CEB 17-015, ULB -- Universite Libre de Bruxelles.

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