Complementary currencies: what role should they be playing in local and regional government?

Abstract

The current climate of fiscal austerity has seen a resurgence in ‘complementary currencies’ as local and regional governments look for ways to use under-utilized assets, maintain employment and avoid local economic decline. The authors explore how local and regional governments can facilitate complementary currencies to reduce the impact of external economic shocks and enable their economies to continue to function in the face of austerity. They recommend that localities consider participating in existing complementary currency ‘circles’.

Keywords:

• Complementary currencies
• local and regional development
• local and regional government

Additional information

Notes on contributors

Alessandro Spano

Alessandro Spano is an Associate Professor in the Department of Economic and Business Sciences, University of Cagliari, Sardinia, Italy.

John Martin

John Martin is Emeritus Professor, La Trobe University, Australia.