Abstract:

The purpose of this work is to obtain new scientific knowledge about the nature of complementary currencies (CC) and local payment systems (LPS), analysis and economic justification of the feasibility of introducing and using LPS, further development of scientific foundations and practical recommendations on the functioning of LPS in the general system of mechanisms and tools of modern monetary relations with the aim of achieving high efficiency of spatial development of national economy [Shiryaeva ,Valiullin, 2019].

At the initial stage, the authors create their own classification of CС and LPS, using Blanc’s typological approach as a basic [Blanc, 2011]. For a more comprehensive and objective assessment of some APS as innovative projects, the authors combine SWOT and PEST analyzes and make a cross-tabulation of them. As part of the procedure for assessing the expected effectiveness of such projects, one should distinguish between short, medium, and long-term effects, since the final estimates significantly depend on the established calculation horizon. In particular, the initiators of the APS are counting on the effect of reinvestment by local firms of their income in local business and procurement in the domestic market [Sacks, 2002].

(Based on Candidate’s thesis)

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