A Theoretical Framework for Shared Monetary Governance

Shared Monetary Governance builds a framework for community level governance of money and fills part of the gap in the literature of monetary governance. The approach begins with consistent treatment by national regulatory frameworks vis-à-vis both national and non- national currency institutions. Regulatory framework tolerance is measured by equating more participatory processes with higher degrees of shared governance. The second part of Shared Monetary Governance explores internal monetary institutional governance. Consistent regulatory framework treatment, transparency, accountability and participation are then applied to all stakeholders affected by monetary functionality. This juxtaposition of governance vs. scale requires investigation of the processes used to make decisions in monetary institutions. Since no such dual-paradigmatic investigation has been undertaken, this paper asserts that metrics for such an investigation need to be developed. Shared Monetary Governance includes a methodology which operationalises the theoretical framework presented in this paper, building a case for full monetary decision-making participation.

Shira Destinie A. Jones  A23-30

To cite this article: Jones, S.D. (2011) ‘A Theoretical Framework for Shared Monetary Governance’ International Journal of Community Currency Research 15 (A) 23-30 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.003

Time is of the Essence: The Challenges and Achievements of a Swedish Time Banking Initiative

This study focuses on the only existing time banking initiative in Sweden – TidsNätverket i Bergsjön (TNB). It explores the organization’s: 1) challenges, 2) achievements with regard to empowering its participants and creating social capital, as well as 3) if these can be attributed to TNB’s use of time banking. The semi-structured interviews and studies of documentation that were carried out in 2008 have been supplemented with additional information derived from the author’s personal experience of being a member of TNB.  TNB has faced problems concerning the way that the time credit system functions as well as regarding a lack of long term participants, time shortages and segregation among some of those who partake. TNB has empowered its participants and has fostered an increase in social capital, something that can probably partially be explained by its use of time banking. The paper is concluded with some recommendations as well as some general thoughts on the future role of time banking within the Swedish welfare state.

Stefan Molnar A13-22

To cite this article: Molnar, S. (2011) ‘Time is of the Essence: The Challenges and Achievements of a Swedish Time Banking Initiative’ International Journal of Community Currency Research 15 (A) 13-22 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.002

Eco-Pesa: An Evaluation of a Complementary Currency Programme in Kenya’s Informal Settlements

The aim of the Eco-Pesa programme was to promote and facilitate environmental social service work and economic development in impoverished informal settlements (slums) through the innovative use of a complementary currency. This complementary currency, called Eco-Pesa, was backed by the national currency and introduced through the registration of 75 small local businesses, price discounting, community service work, and community events in three neighbouring informal settlements in Kongowea, Kenya. An estimated $4,176 USD worth of trading was facilitated through the circulation of only $352 USD worth of Eco-Pesa. The use of Eco-Pesa resulted in a 22% average increase in participating businesses’ incomes, the collection of 20 tonnes of waste, and the creation of three youth-led community tree nurseries. The programme was cost effective (only $4,698 USD was spent over seven months), and provided an improved mechanism for tracking development funding and increasing overall accountability. This paper presents a study of the programme, describing seven months of design, implementation and results. The successes of the Eco-Pesa programme demonstrated in these findings, indicate that complementary currencies are a valuable tool to promote development, warranting further implementation and research.

William O. Ruddick A1-12

To cite this article: Ruddick, W. (2011) ‘Eco-Pesa: An Evaluation of a Complementary Currency Programme in Kenya’s Informal Settlements’ International Journal of Community Currency Research 15 (A) 1-12 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.001