Public Banks
Unlocking the Green Vault
Public banks are undeniably significant for local and regional economic development. However, their potential contribution to socio-ecological transformation remains constrained by conventional monetary policies and mainstream economic ideologies. This limitation impedes public banks from fully harnessing untapped endogenous development potential crucial for transformative trajectories.
Our work seeks to bridge this gap by conceptualizing development frameworks that integrate local currencies and public banks. By adapting and redeveloping local monetary systems in collaboration with public-sector banks, we aim to unlock the inherent potential for sustainable development within local communities.
This approach aligns with emerging discussions on the role of finance in fostering sustainability transitions. Research suggests that leveraging local currencies and community-based financing models can enhance resilience, promote inclusive growth, and facilitate the transition towards more sustainable economies. Thus, our efforts aim to catalyze a shift towards more holistic and locally rooted approaches to economic development, with public banks playing a pivotal role in driving socio-ecological transformation.