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Tensions in the triangle : monetary plurality between institutional integration, competition and complementarity

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  • Jérôme Blanc

    (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS de Lyon - École normale supérieure de Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique)

Abstract

This text aims at accounting for the plurality of money by emphasizing the delicate and evolving balance of the legal monetary systems and the continued existence of moneys that stay outside, though their continuation is subjected to chronic difficulties. It uses Polanyian concepts to take the wide and increasing variety of money into account and mobilizes criteria able to analyse the variety of links between them. It proposes a framework based on the representation of a "plurality triangle" with institutional integration, complementarity and competition, and it analyses the positioning of moneys in this framework as well as tensions that may generate shifts in their positioning.

Suggested Citation

  • Jérôme Blanc, 2018. "Tensions in the triangle : monetary plurality between institutional integration, competition and complementarity," Post-Print halshs-01905298, HAL.
    • Handle: RePEc:hal:journl:halshs-01905298
    DOI: 10.1007/s40844-018-0101-1
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01905298
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    References listed on IDEAS

    as
    1. Jérôme Blanc, 2017. "Unpacking monetary complementarity and competition: a conceptual framework," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 41(1), pages 239-257.
    2. N. Nergiz Dincer & Barry Eichengreen, 2014. "Central Bank Transparency and Independence: Updates and New Measures," International Journal of Central Banking, International Journal of Central Banking, vol. 10(1), pages 189-259, March.
    3. Jérôme Blanc & Ludovic Desmedt & Laurent Le Maux & Jaime Marques-Pereira & Pepita Ould Ahmed & Bruno Théret, 2018. "Monetary plurality in economic theory," Post-Print halshs-02005283, HAL.
    4. Jérôme Blanc, 2017. "Making Sense of the Plurality of Money : A Polanyian Attempt," Post-Print halshs-02023680, HAL.
    5. Girton, Lance & Roper, Don E, 1981. "Theory and Implications of Currency Substitution," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 13(1), pages 12-30, February.
    6. Pierre Alary & Jérôme Blanc & Ludovic Desmedt & Bruno Théret, 2016. "Théories françaises de la monnaie [Anthologie]," Post-Print halshs-01327709, HAL.
    7. Jean-François Ponsot, 2003. "The Obsession of Credibility : A Historical Perspective on Full Dollarization and Currency Boards," International Journal of Political Economy, Taylor & Francis Journals, vol. 33(1), pages 83-99.
    8. Jérôme Blanc, 2008. "Usages de l'argent et pratiques monétaires," Post-Print halshs-00278345, HAL.
    9. Greenfield, Robert L & Yeager, Leland B, 1983. "A Laissez-Faire Approach to Monetary Stability," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 15(3), pages 302-315, August.
    10. Jérôme Blanc, 2011. "Classifying "CCs": Community, complementary and local currencies' types and generations," Post-Print halshs-00583587, HAL.
    11. Jérôme Blanc & Ludovic Desmedt & Laurent Le Maux & Jaime Marques-Pereira & Pepita Ould-Ahmed & Bruno Théret, 2018. "Monetary plurality in economic theory," Post-Print halshs-01892088, HAL.
    12. Jérôme Blanc, 2013. "Penser la pluralité des monnaies à partir de Polanyi : un essai de typologie," Post-Print halshs-00828095, HAL.
    13. Cowen, Tyler & Kroszner, Randall, 1987. "The Development of the New Monetary Economics," Journal of Political Economy, University of Chicago Press, vol. 95(3), pages 567-590, June.
    14. Kuroda, Akinobu, 2008. "What is the complementarity among monies? An introductory note," Financial History Review, Cambridge University Press, vol. 15(1), pages 7-15, April.
    15. Fantacci, Luca, 2005. "Complementary currencies: a prospect on money from a retrospect on premodern practices," Financial History Review, Cambridge University Press, vol. 12(01), pages 43-61, April.
    16. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
    17. Kuroda, Akinobu, 2008. "Concurrent but non-integrable currency circuits: complementary relationships among monies in modern China and other regions," Financial History Review, Cambridge University Press, vol. 15(1), pages 17-36, April.
    18. Fantacci, Luca, 2008. "The dual currency system of Renaissance Europe," Financial History Review, Cambridge University Press, vol. 15(1), pages 55-72, April.
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    Cited by:

    1. Thomas Lagoarde-Ségot & Alban Mathieu, 2024. "Ecological money and finance—upscaling local complementary currencies," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.

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