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

[Miguel Yasuyuki Hirota]

     Dear Bernard and all,

     Actually Brazil is not the only country with such a central bank: 
attached is an article from an Uruguayan magazine "Búsqueda" about the 
future implementation of a national CC for which the central bank of the 
Oriental Republic of Uruguay has been providing some technical supports, 
and I'd say that South America is now very interesting in this sense...

     Best regards from Albacete, Spain

     Miguel

Bernard Lietaer wrote:
> Dear Stephen,
> 
> Thank you for drawing my attention to this important paper.
> It is the first time that we get a central bank to acknowledge CCs as a 
> positive instrument...
> 
> Best,
> 
> Bernard
> 
> www.lietaer.com
> 
> 
> 
> Stephen DeMeulenaere wrote:
>> 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.
>>
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-- 
****************************
Miguel Yasuyuki Hirota
mig at olccjp.net
OLCCJP: http://www.olccjp.net
Blog: http://mig76en.wordpress.com/
(with link to other languages)
http://migjp2003.wordpress.com/
(in English and Spanish)
Skype name: migjp2003
MSN: mig at lime.plala.or.jp
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