Brazilian community development banks (CDBs) have established various coordinated financial mechanisms aiming to restructure poor and peripheral local economies. Their development strategy includes an instrument to facilitate access to microfinance and a community currency, combined with the definition of vocational training programmes and support for business start-ups. Put together, these different activities constitute the endogenous and resilient territorial development strategy defined by community development banks. Little scientific literature has been devoted to the study of community currencies in this process. This article presents an overview of the symbolic meanings conveyed by the currency of Banco Palmas, the first and most prominent CDB. First, we present some historical and territorial characteristics of Banco Palmas. Second, we analyze the symbolic role of its currency : money as a bond/link (the building of the community on its territory); money as a medium for institutionalization (of the community itself and to the exogenous actors, as to define a federative project); and finally money as a vector-catalyst (when the plasticity of money allows to explore its different formats and so, to adapt it to the new perspectives of community and territorial development).
To cite this article: Fare, M., de Freitas, C. and Meyer, C, (2015) ‘Territorial development and Community currencies : symbolic meanings in Brazilian Community development banks’ International Journal of Community Currency Research 19 (D) 6-17 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2015.002
After losing its lawsuit against a community bank issuing a community currency, the Central Bank of Brazil has just started a cooperation agreement with the National Secretary for Solidarity Economy of the Labour Ministry of Brazil to support and develop the current 51 community banks and their own social currency in order to reach about 300 by 2012, becoming an exemplary model. This world premiere central bank support associated with one of the highest amount of community currency systems of Latin America brought Brazil as a significant site of experimentation in this field. Furthermore, some daring innovations seem to confirm this position in a long-term future unless this normative control of a centralized institution decreases the creativity. Indeed, sustainable economic orientation still needs creative tools, associated to an ethical vision, to decrease material consumption dependence and increase post-materialist values exchange: community currency transformation to an effective grassroots innovation for sustainability, prosperity and democracy seems to be necessary.
Christophe Place Volume 15(2011) Special Issue D39-46
To cite this article: Place, C. (2011) ‘Community Currency Progress in Latin America (Banco Palmas)’ International Journal of Community Currency Research 15 (D) 39-46 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.019
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.
To cite this article: Freire, M.V. (2009) ‘Social Economy and Central Banks: Legal and Regulatory Issues on Social Currencies (Social Money) as a Public Policy Instrument Consistent with Monetary Policy’ International Journal of Community Currency Research 13 76-94 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2009.007
The aim of this paper is to provide a brief introduction to a proposal for a complementary currency in the education sector in Brazil. Reviewing the background, objectives, scope and approach adopted, it intention is to reveal not only how it is wholly feasible to construct complementary currencies which are targeted at specific sectors but also to open up discussion of whether and how complementary currencies might be employed in the education sector more generally.
To cite this article: Lietaer, B. (2006) ‘A Proposal for a Brazilian Education Complementary Currency’ International Journal of Community Currency Research 10 18-23 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2006.004