ON THE METHODOLOGY OF THE COMPLEMENTARY CURRENCIES PROJECT ANALYSIS

Abstract

The paper is devoted to some methodological aspects of interdisciplinary analysis of Projects for Complementary Currencies (CC-Projects) have been sometime realized both in domestic and foreign economic practice. The analysis is focused mostly on the revealing both of the CC-projects’ basic characteristics and conditions necessary for the effective CCs emission and their circulation. An emphasis is also paid to sampling of possible methodological approaches to an elaboration of successful projects and relevant payment systems. Among the main missions carried out by the projects (especially based on the local currencies, LCs) the authors have highlighted the revival of the local economies, mitigation or even complete absorption of external shocks (due to the countercyclical nature of the action of complementary currency acting as a buffer, countercyclical buffer) and, in addition, the supporting of social trust. It might be suggested that in some sense CCs are focused on turning the target territories for them into reliable islands of socio-economic stability. The paper contains its authors’ effort to reveal why some observed projects with a multifunctional load relevant to them do not always manage to serve as an effective tool for strengthening market relations on the ground. This is one of the important components of the undertaken empirical analysis of different CCs which one time were implemented in various areas of many countries of the world.