[cc_research] A positive article from a legal counselor for the Central Bank of Brazil on complementary currency systems

[Stephen DeMeulenaere]

A positive article from a legal counselor for the Central Bank of Brazil 
on complementary currency systems

http://www.uea.ac.uk/env/ijccr/pdfs/IJCCRvol13(2009)pp76-94Freire.pdf

SOCIAL ECONOMY AND CENTRAL BANKS: LEGAL AND REGULATORY
ISSUES ON SOCIAL CURRENCIES (SOCIAL MONEY) AS A PUBLIC
POLICY INSTRUMENT CONSISTENT WITH MONETARY POLICY

Abstract

In Brazil, the National Secretariat for Solidarity Economy has 
encouraged the establishment
of Community Development Banks that issue “social currencies for local 
circulation”, and
has struggled to set up a regulatory framework for the use of social 
currencies, by means of
public policies for solidarity finance, at the federal, state, and 
municipal levels of
governments. Can social currencies be regarded as public policy 
instruments compatible with
monetary policy under the responsibility of central banks? With the aim 
of systematizing this
question and allowing the Central bank of Brazil to elaborate a 
reference study on this
subject, this essay defines social currencies on the basis of 
constitutional precepts; identifies
and examines legal and regulatory issues and logistical and operational 
aspects relating to
social currency systems; and investigates why social currencies should 
be regarded as public
policy instruments for local development compatible with monetary policy.

-- 

Stephen DeMeulenaere
Ubud, Bali, Indonesia
Mobile:  +62817345516
Skype: 'evenstephen'  Facebook - Twitter - LinkedIn
www.complementarycurrency.org - CC Resource Center
www.network-economies.com


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