Work detail

Local and complementary currencies, a means to foster local economy: The case of France

Author: Mgr. Félix André Jacques Buresi
Year: 2021 - summer
Leaders: prof. PhDr. Ladislav Krištoufek Ph.D.
Consultants:
Work type: CSF - Corporate Strategy and Finance
Masters
Language: English
Pages: 96
Awards and prizes:
Link:
Abstract: Since 2010 in France, local and complementary currencies have grown significantly, bringing the total number in circulation to 82. Most of the studies
focus on the way local and complementary currencies work and their potential
benefits. With the benefit of ten years of hindsight, it is time to supplement
the studies with a quantitative analysis of the phenomenon and measure its
impact on the local economy. A survey dealing with all the issues involved in
developing a currency completes the quantitative analysis. Nevertheless, the
thesis faces difficulties in collecting this data. Hence, the thesis identifies the
lack of suitable tools for regular monitoring as the main reason for the data
collection issue. Despite the low response rate, the collected responses provide
evidence to confirm the intuition that local and complementary currencies are
dependent on their framework. Indeed, based on a few responses and specific cases, the thesis distinguishes critical framework-dependent elements that
impact the sustainability of a local and complementary currency. Hence, the
thesis emphasizes the critical role of the local consumption habits, elected representatives, relations with public bodies, and people’s attachment to the local
territory. Furthermore, the thesis underlies the need to sustain a good level
of involvement of every stakeholder of the network and prospects in upholding
the core values of each project.

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CRIF
McKinsey
Patria Finance