| Summary: | Since the emergence of complementary currencies in the 1980s there have been numerous attempts to
classify them, despite that the terms local currency, community currency and many others describing
place-based monetary tools are not considered similarly by scholars. The local currencies take many
forms, and local governments play different roles in their emergence and development. In Hungary there
has been an increasing attention and discussion around the idea of implementing these alternative
monetary tools. There is a growing number of working complementary currencies in Hungary, but
academic research focuses mostly on whether these can contribute to the local development and what
kind of effects they have.
The aim of this paper is to present a possible categorization of Hungarian complementary currencies
based on the role local governments played in their implementation. I evaluate whether these community
currencies are effective at first, and attempt to categorize them based on their purpose, association form
and their relationships with local governments, with the purpose of increasing awareness for these
initiatives in the process of policy-making.
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