Parallel currencies : evaluation and theorical background of the phenomenon
Critical reappraisal of the money concept and general view of monetary uses.Centre de Recherches Walras, Lyon, France.
Jérôme Blanc, August 1998
Parallel money consist of means of payment and units of account of very different sorts. They are employed beside the national currencies. An inventory of parallel money on a recent period (1988-96) gives evidences of their use in “normal” circumstances. These evidences lead to question the way the economic theory considers such a phenomenon ; but it considers parallel money as fringing situations and shows great difficulties to take it into account. This text outlines the ways to a critical reappraisal of the money concept and to a general schema of monetary uses of which
parallel money would be an integrant part.