Smarter Money for Smarter Cities: How Regional Currencies Can Help to Promote a Decentralised and Sustainable Regional Development

Fuders, Félix

doi:10.1007/978-3-319-29367-7_9

Cited by 21 publications

(5 citation statements)

References 8 publications

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“…Practically speaking, it may be possible to identify "missing links" in local economic or financial networks such that policymakers and organizers might intervene to close cycles by brokering among local businesses 22,41 . Our findings complement and corroborate a growing body of work informing policy on alternative interventions in marginalized areas 15,[48][49][50][51] .…”

Section: Discussionsupporting

confidence: 84%

Circulation of a digital community currency

Mattsson¹,

Criscione²,

Takes³

2022

Preprint

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Circulation is the characteristic feature of successful currency systems, from community currencies to cryptocurrencies to national currencies. In this paper, we propose a network analysis methodology for studying circulation given a system's digital transaction records. This is applied to Sarafu, a digital community currency active in Kenya over a period that saw considerable economic disruption due to the COVID-19 pandemic. Representing Sarafu as a network of monetary flow among the 40,000 users reveals meaningful patterns at multiple scales. Circulation was highly modular, geographically localized, and occurring among users with diverse livelihoods. Network centrality highlights women's participation, early adopters, and the especially prominent role of community-based financial institutions. These findings have concrete implications for humanitarian and development policy, helping articulate when community currencies might best support interventions in marginalized areas. Overall, networks of monetary flow allow for studying circulation within digital currency systems at a striking level of detail.

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Section: Discussionsupporting

confidence: 84%

Circulation of a digital community currency

Mattsson¹,

Criscione²,

Takes³

2022

Preprint

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“…Our study of the Sarafu system complements and corroborates a growing body of work informing policy on alternative interventions in marginalized areas 15,[54][55][56][57] . In particular, our findings shed new light on the conditions under which community currencies might form part of successful humanitarian or development interventions.…”

Section: Discussionsupporting

confidence: 75%

Circulation of a digital community currency

Mattsson

Criscione

Takes

2023

Sci Rep

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Circulation is the characteristic feature of successful currency systems, from community currencies to cryptocurrencies to national currencies. In this paper, we propose a network analysis approach especially suited for studying circulation given a system’s digital transaction records. Sarafu is a digital community currency that was active in Kenya over a period that saw considerable economic disruption due to the COVID-19 pandemic. We represent its circulation as a network of monetary flow among the 40,000 Sarafu users. Network flow analysis reveals that circulation was highly modular, geographically localized, and occurring among users with diverse livelihoods. Across localized sub-populations, network cycle analysis supports the intuitive notion that circulation requires cycles. Moreover, the sub-networks underlying circulation are consistently degree disassortative and we find evidence of preferential attachment. Community-based institutions often take on the role of local hubs, and network centrality measures confirm the importance of early adopters and of women’s participation. This work demonstrates that networks of monetary flow enable the study of circulation within currency systems at a striking level of detail, and our findings can be used to inform the development of community currencies in marginalized areas.

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“…Based on this strategy, the income levels should be increased and cost level should be decreased. In a very low interest environment (with the zero lower bound having been hit in international monetary markets) and an ever-increasing money supply in almost all economies in the world, it is difficult for banks to gain from interest margins [34][35][36]. Efficiency should not only be measured taking into account profitability but the tasks of banks should be considered.…”

Section: Results and Analysismentioning

confidence: 99%

“…More interesting would be the construction of a model that defines efficiency by whether or not banks (efficiently) fulfill their role in the economy. In such a model, the lower interest rates, the better for economy and, especially, society since an important part of income inequality, financial crisis and the obligation to grow economically has to do with the money rate if interest [34,37,38].…”

Section: Results and Analysismentioning

confidence: 99%

A bargaining game model for performance assessment in network DEA considering sub-networks: a real case study in banking

Mahmoudi

Emrouznejad

Rasti−Barzoki

2018

Neural Comput & Applic

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Several network-data envelopment analysis (DEA) performance assessment models have been proposed in the literature; however, the conflicts between stages and insufficient number of decision-making units (DMUs) challenge the researchers. In this paper, a novel game-DEA model is proposed for efficiency assessment of network structure DMUs. We propose a two-stage modeling, where in the first stage network is divided into several sub-networks; we at the same time categorize input variables to measure efficiency of sub-networks within each input category. In the second stage, we calculate efficiency of the network by aggregating efficiency scores of sub-networks within each category. In this way, the issue of insufficient number of DMUs when there are many input/output variables can be handled as well. One of the main contributions of this paper is assuming each category and stage as a player in Nash bargaining game. Using the concept borrowed from Nash bargaining game model, the proposed game-DEA model tries to maximize distances of efficiency scores of each player form their corresponding breakdown points. The usefulness of the model is presented using a real case study to measure the efficiency of bank branches.

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Smarter Money for Smarter Cities: How Regional Currencies Can Help to Promote a Decentralised and Sustainable Regional Development

Cited by 21 publications

References 8 publications

Circulation of a digital community currency

Circulation of a digital community currency

Circulation of a digital community currency

A bargaining game model for performance assessment in network DEA considering sub-networks: a real case study in banking

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