LOCAL CURRENCY AS A METHOD OF ECONOMY INTENSIFICATION
The article describes local currency as an additional means of payment functioning along with the national currency on a certain limited territory or within a certain community. The authors characterize this type of currencies, identify their aims and forms and analyze foreign and home experience...
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| Main Authors: | , |
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| Format: | article |
| Language: | RU |
| Published: |
Plekhanov Russian University of Economics
2018
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| Subjects: | |
| Online Access: | https://doaj.org/article/af1c41462c64482b9f6b4a74b7c84238 |
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| Summary: | The article describes local currency as an additional means of payment functioning along with the national currency on a certain limited territory or within a certain community. The authors characterize this type of currencies, identify their aims and forms and analyze foreign and home experience of using them. The article puts forward a mechanism of local currency circulation by describing its key elements. In this case the combination of three main factors is necessary: participation of those who deal with production and consumption, support of local authorities and interaction with local banks and other finance and credit organizations. The authors advance a hypothesis about the beginning of the stage of transforming currency interactions, when horizontal ties between currencies give rise to vertical structure of these relations. |
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