IDEAS home Printed from https://ideas.repec.org/a/spr/eaiere/v15y2018i2d10.1007_s40844-018-0101-1.html
   My bibliography  Save this article

Tensions in the triangle: monetary plurality between institutional integration, competition and complementarity

Author

Listed:
  • Jérôme Blanc

    (Univ. de Lyon, Sciences Po Lyon, TRIANGLE, UMR, 5206 CNRS)

Abstract

This text aims at accounting for the plurality of money by emphasizing the delicate and evolving balance of the legal monetary systems and the continued existence of moneys that stay outside, though their continuation is subjected to chronic difficulties. It uses Polanyian concepts to take the wide and increasing variety of money into account and mobilizes criteria able to analyse the variety of links between them. It proposes a framework based on the representation of a “plurality triangle” with institutional integration, complementarity and competition, and it analyses the positioning of moneys in this framework as well as tensions that may generate shifts in their positioning.

Suggested Citation

  • Jérôme Blanc, 2018. "Tensions in the triangle: monetary plurality between institutional integration, competition and complementarity," Evolutionary and Institutional Economics Review, Springer, vol. 15(2), pages 389-411, December.
    • Handle: RePEc:spr:eaiere:v:15:y:2018:i:2:d:10.1007_s40844-018-0101-1
    DOI: 10.1007/s40844-018-0101-1
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s40844-018-0101-1
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s40844-018-0101-1?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Jérôme Blanc, 2017. "Unpacking monetary complementarity and competition: a conceptual framework," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 41(1), pages 239-257.
    2. N. Nergiz Dincer & Barry Eichengreen, 2014. "Central Bank Transparency and Independence: Updates and New Measures," International Journal of Central Banking, International Journal of Central Banking, vol. 10(1), pages 189-259, March.
    3. Jérôme Blanc & Ludovic Desmedt & Laurent Le Maux & Jaime Marques-Pereira & Pepita Ould Ahmed & Bruno Théret, 2018. "Monetary plurality in economic theory," Post-Print halshs-02005283, HAL.
    4. Girton, Lance & Roper, Don E, 1981. "Theory and Implications of Currency Substitution," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 13(1), pages 12-30, February.
    5. Pierre Alary & Jérôme Blanc & Ludovic Desmedt & Bruno Théret, 2016. "Théories françaises de la monnaie [Anthologie]," Post-Print halshs-01327709, HAL.
    6. Jérôme Blanc, 2017. "Making Sense of the Plurality of Money : A Polanyian Attempt," Post-Print halshs-02023680, HAL.
    7. Jean-François Ponsot, 2003. "The Obsession of Credibility : A Historical Perspective on Full Dollarization and Currency Boards," International Journal of Political Economy, Taylor & Francis Journals, vol. 33(1), pages 83-99.
    8. Jérôme Blanc & Ludovic Desmedt & Laurent Le Maux & Jaime Marques-Pereira & Pepita Ould-Ahmed & Bruno Théret, 2018. "Monetary plurality in economic theory," Post-Print halshs-01892088, HAL.
    9. Fantacci, Luca, 2005. "Complementary currencies: a prospect on money from a retrospect on premodern practices," Financial History Review, Cambridge University Press, vol. 12(01), pages 43-61, April.
    10. Kuroda, Akinobu, 2008. "Concurrent but non-integrable currency circuits: complementary relationships among monies in modern China and other regions," Financial History Review, Cambridge University Press, vol. 15(1), pages 17-36, April.
    11. Jérôme Blanc, 2008. "Usages de l'argent et pratiques monétaires," Post-Print halshs-00278345, HAL.
    12. Greenfield, Robert L & Yeager, Leland B, 1983. "A Laissez-Faire Approach to Monetary Stability," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 15(3), pages 302-315, August.
    13. Jérôme Blanc, 2011. "Classifying "CCs": Community, complementary and local currencies' types and generations," Post-Print halshs-00583587, HAL.
    14. Jérôme Blanc, 2013. "Penser la pluralité des monnaies à partir de Polanyi : un essai de typologie," Post-Print halshs-00828095, HAL.
    15. Cowen, Tyler & Kroszner, Randall, 1987. "The Development of the New Monetary Economics," Journal of Political Economy, University of Chicago Press, vol. 95(3), pages 567-590, June.
    16. Kuroda, Akinobu, 2008. "What is the complementarity among monies? An introductory note," Financial History Review, Cambridge University Press, vol. 15(1), pages 7-15, April.
    17. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
    18. Fantacci, Luca, 2008. "The dual currency system of Renaissance Europe," Financial History Review, Cambridge University Press, vol. 15(1), pages 55-72, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Thomas Lagoarde-Ségot & Alban Mathieu, 2024. "Ecological money and finance—upscaling local complementary currencies," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jérôme Blanc, 2017. "Unpacking monetary complementarity and competition: a conceptual framework," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 41(1), pages 239-257.
    2. Thomas Lagoarde-Ségot & Alban Mathieu, 2024. "Ecological money and finance—upscaling local complementary currencies," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.
    3. Laurence Scialom, 1995. "Les modèles de paiements concurrentiels : éléments d'analyse critique ," Revue Économique, Programme National Persée, vol. 46(1), pages 35-55.
    4. Larue, Louis & Meyer, Camille & Hudon, Marek & Sandberg, Joakim, 2022. "The Ethics of Alternative Currencies," Business Ethics Quarterly, Cambridge University Press, vol. 32(2), pages 299-321, April.
    5. Nikolay Nenovsky & Pencho Penchev, 2016. "Money without a State: Currencies of the Orthodox Christians in the Balkan Provinces of the Ottoman Empire (17th –19th centuries)," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 29(1), pages 33-51, March.
    6. Christoph S. Weber, 2018. "Central bank transparency and inflation (volatility) – new evidence," International Economics and Economic Policy, Springer, vol. 15(1), pages 21-67, January.
    7. MARTÍNEZ-RUIZ, Elena & NOGUES-MARCO, Pilar, 2018. "The Political Economy of Exchange Rate Stability During the Gold Standard. Spain 1874—1914," Discussion paper series HIAS-E-75, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    8. Bordo, Michael D., 1986. "Explorations in monetary history: A survey of the literature," Explorations in Economic History, Elsevier, vol. 23(4), pages 339-415, October.
    9. Christoph S. Weber, 2020. "The unemployment effect of central bank transparency," Empirical Economics, Springer, vol. 59(6), pages 2947-2975, December.
    10. Jamus Jerome Lim, 2021. "The limits of central bank independence for inflation performance," Public Choice, Springer, vol. 186(3), pages 309-335, March.
    11. Diego Sébastien LANDIVAR & Clément MATHONNAT & Ariane TICHIT, 2014. "Classification des systèmes de monnaies non-bancaires : ce que disent les données du Web," Working Papers 201425, CERDI.
    12. Yıldırım-Karaman, Secil, 2017. "Uncertainty shocks, central bank characteristics and business cycles," Economic Systems, Elsevier, vol. 41(3), pages 379-388.
    13. Cecilia Dassatti & Gerardo Licandro, 2021. "Measuring monetary policy transparency in Uruguay," Documentos de trabajo 2021003, Banco Central del Uruguay.
    14. Chan Il Park, 1998. "Transactions Demand for Money and the Inverse Relation Between Inflation and Output: the Case of Korean Economy," International Economic Journal, Taylor & Francis Journals, vol. 12(1), pages 39-51.
    15. Carola Conces Binder, 2021. "Political Pressure on Central Banks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(4), pages 715-744, June.
    16. Trunin, Pavel (Трунин, Павел) & Bozhechkova, Alexandra (Божечкова, Александра) & Goryunov, Eugene (Горюнов, Евгений) & Petrova, Diana, 2017. "Analysis of Approaches to Accounting of the Information Effects of Monetary Policy [Анализ Подходов К Учету Информационных Эффектов Денежно-Кредитной Политики]," Working Papers 031723, Russian Presidential Academy of National Economy and Public Administration.
    17. Jérôme Blanc, 2017. "Making Sense of the Plurality of Money : A Polanyian Attempt," Post-Print halshs-02023680, HAL.
    18. Jan Philipp Fritsche & Patrick Christian Harms, 2020. "Better off without the Euro? A Structural VAR Assessment of European Monetary Policy," Discussion Papers of DIW Berlin 1907, DIW Berlin, German Institute for Economic Research.
    19. Davide Romelli, 2022. "The political economy of reforms in Central Bank design: evidence from a new dataset," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 37(112), pages 641-688.
    20. Carl E. Walsh, 2015. "Day Two Keynote Address: Goals and Rules in Central Bank Design," International Journal of Central Banking, International Journal of Central Banking, vol. 11(4), pages 295-352, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:eaiere:v:15:y:2018:i:2:d:10.1007_s40844-018-0101-1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.