LOCAL CURRENCY AS A METHOD OF ECONOMY INTENSIFICATION
https://doi.org/10.21686/2413-2829-2018-1-100-106
Abstract
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.
About the Authors
Oleg E. Kalenov
Plekhanov Russian University of Economics
Russian Federation
Russian Federation
PhD, Assistant Professor of the Department for Economy of Production of the PRUE
Address: Plekhanov Russian University of Economics, 36 Stremyanny Lane, Moscow, 117997, Russian Federation
Sergey N. Kukushkin
Plekhanov Russian University of Economics
Russian Federation
Russian Federation
PhD, Assistant Professor of the Department for Economy of Production of the PRUE
Address: Plekhanov Russian University of Economics, 36 Stremyanny Lane, Moscow, 117997, Russian Federation
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Review
For citations:
Kalenov O.E., Kukushkin S.N. LOCAL CURRENCY AS A METHOD OF ECONOMY INTENSIFICATION. Vestnik of the Plekhanov Russian University of Economics. 2018;(1):100-106. (In Russ.) https://doi.org/10.21686/2413-2829-2018-1-100-106
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