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A Study on the Significance and Revitalization of Local Currency

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Purpose: This study aims to explore the significance and potential strategies for revitalizing local currency systems. Designed for use within specific regions or communities, local currencies play a crucial role in supporting and revitalizing local economies. By promoting local consumption and supporting local businesses, local currencies contribute to economic growth and job creation at the community level. Research design, data and methodology: The research methodology involves a comprehensive review of existing literature and various case studies to analyze the effectiveness and sustainability of local currencies. The literature review investigates the theoretical background and diverse implementation cases of local currencies, while the case studies identify the success factors and challenges faced by actual local currency initiatives. Results: This paper confirms that local currencies contribute to economic growth and job creation at the community level by promoting local consumption and supporting local businesses. Additionally, this study investigates the economic, social, and environmental impacts of local currencies. Conclusion: In conclusion, this study analyzes the challenges faced by local currency systems and proposes strategies to enhance their effectiveness and sustainability. These strategies are expected to provide practical assistance in the development and implementation of local currencies, contributing to the revitalization of local economies and the sustainable development of local communities

Abstract

Purpose: This study aims to explore the significance and potential strategies for revitalizing local currency systems. Designed for use within specific regions or communities, local currencies play a crucial role in supporting and revitalizing local economies. By promoting local consumption and supporting local businesses, local currencies contribute to economic growth and job creation at the community level. Research design, data and methodology: The research methodology involves a comprehensive review of existing literature and various case studies to analyze the effectiveness and sustainability of local currencies. The literature review investigates the theoretical background and diverse implementation cases of local currencies, while the case studies identify the success factors and challenges faced by actual local currency initiatives. Results: This paper confirms that local currencies contribute to economic growth and job creation at the community level by promoting local consumption and supporting local businesses. Additionally, this study investigates the economic, social, and environmental impacts of local currencies. Conclusion: In conclusion, this study analyzes the challenges faced by local currency systems and proposes strategies to enhance their effectiveness and sustainability. These strategies are expected to provide practical assistance in the development and implementation of local currencies, contributing to the revitalization of local economies and the sustainable development of local communities

참고문헌 (19)

  1. Bank of Korea Economic Research Institute, "Operation status and issues of local currencies by local governments", ~ (2020)
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  3. Choi, J. H., "Research on local circular economy and local currency (", Doctor, pp.2024
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  7. Graugaard, J. D., "A tool for building community resilience? A case study of the Lewes Pound", Local Environment, 17(2), pp.243~260 (2012)
  8. Kang, C. H., "The effects of local currency on local employment" (2020), Policy Planning Committee
  9. Kim, Y., "Conditions for the successful operation of local currencies", Journal of Local Finance Research, 23(1), pp.123~140 (2018)
  10. Kim, Y., "The economic effects and operational strategies of local currencies", Journal of Local Administration Research, 35(2), pp.45~67 (2019)
  11. Economic effects analysis and institutionalization plans of hometown love gift vouchers, "Lee, B. G.", Korea Local Administration Research Institute, ~ (2017)
  12. Analysis of economic effects of Jeju love gift vouchers issuance, "Lee, J. H.", Jeju Research Institute, ~ (2017)
  13. Economic effects of Gyeonggi Province's local currency: Focusing on youth allowance and other policy subsidies, "Lee, S. H.", Gyeonggi Research Institute, ~ (2018)
  14. North, P., "Money and liberation: The micropolitics of alternative currency movements" (2007), University of Minnesota Press
  15. Park, J., "Policy measures for the activation of local currencies", Journal of Korean Local Government Studies, 27(3), pp.89~112 (2021)
  16. Seyfang, G., "Growing green money? Mapping community currencies for sustainable development", Ecological Economics, 86, pp.65~77 (2013)
  17. Analysis of the impact of introducing local currency on local economy, "Song, K. H.", Korea Institute of Public Finance, ~ (2020)
  18. Williams, C. C., "Community currencies as a tool for tackling social exclusion", Local Economy, 21(1), pp.1~16 (2006)
  19. Yang, J. H., "Analysis of economic effects of "SIRU" local currency in Siheung: Increase in local consumption and its macroeconomic ripple effects", pp.2019

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