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The Bristol Pound: A Tool for Localisation?

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  • Marshall, Adam P.
  • O'Neill, Daniel W.
Abstract
The Bristol Pound is not the first convertible local currency (CLC) to circulate regionally, to be administered by a credit union, or to be supported by a local council. However, it is the first to possess all three of these attributes simultaneously. For this reason, the Bristol Pound has been heralded by some as marking a new era for local currency-driven localisation. To explore the Bristol Pound's impact on localisation, 27 semi-structured interviews were conducted with businesses and other Bristol Pound stakeholders. Economists were also interviewed to gain insights into the barriers to localisation and the likely impact of a CLC on these barriers. Overall, our findings suggest that the Bristol Pound is not driving localisation. Many of the key barriers were found to be political/institutional in nature (e.g. support for free trade, the free movement of capital, the power of global corporations, and the expansionary logic of capitalism). Such barriers are unlikely to be influenced by a CLC. We therefore suggest that those pursuing localisation should engage in a more active agenda that aims to change government policy and institutions to support an equitable, sustainable economy.

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  • Marshall, Adam P. & O'Neill, Daniel W., 2018. "The Bristol Pound: A Tool for Localisation?," Ecological Economics, Elsevier, vol. 146(C), pages 273-281.
    • Handle: RePEc:eee:ecolec:v:146:y:2018:i:c:p:273-281
    DOI: 10.1016/j.ecolecon.2017.11.002
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    References listed on IDEAS

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    6. Engler, John-Oliver & Kretschmer, Max-Friedemann & Rathgens, Julius & Ament, Joe A. & Huth, Thomas & von Wehrden, Henrik, 2024. "15 years of degrowth research: A systematic review," Ecological Economics, Elsevier, vol. 218(C).
    7. Thomas SJ Smith, 2023. "Mapping complexity in deglobalisation: A typology of economic localisms from ‘hyper-localism’ to ‘strategic autonomy’," Local Economy, London South Bank University, vol. 38(3), pages 242-263, May.
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    9. Lloveras, Javier & Marshall, Adam P. & Warnaby, Gary & Kalandides, Ares, 2021. "Mobilising Sense of Place for Degrowth? Lessons From Lancashire's Anti-fracking Activism," Ecological Economics, Elsevier, vol. 183(C).
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    11. Oriane Lafuente-Sampietro, 2021. "Convertible local currencies and localisation: findings from a user survey and network analysis of local French currencies," Working Papers halshs-03324630, HAL.
    12. Frédéric A Hayek & Pascal Lafourcade & Ariane Tichit, 2023. "Generic and Universal Local Cryptocurrency: LCoin," Post-Print hal-04176704, HAL.
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    16. Francisco Javier García-Corral & Jaime de Pablo-Valenciano & Juan Milán-García & José Antonio Cordero-García, 2020. "Complementary Currencies: An Analysis of the Creation Process Based on Sustainable Local Development Principles," Sustainability, MDPI, vol. 12(14), pages 1-22, July.
    17. Léo Revelli, 2025. "Can complementary currencies foster sustainability? A systematic review of the impacts of environmental complementary currencies," Working Papers CEB 25-002, ULB -- Universite Libre de Bruxelles.
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