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Community currency (CCs) in Spain: An empirical study of their social effects

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  • Oliver Sanz, Esther

Abstract

Despite its sudden proliferation along the economic crisis period, no previous study has investigated the social effects of the community currency (CCs) experiences in Spain. Previous research on CCs experiences from different countries provided evidences about social capital improvement, introducing CCs as sustainability tools. This research uses the theoretical frameworks of social capital and complex adaptive systems to approach concepts like sustainability, networks, trust, norms, participation and cooperation. Statistical analysis of the data collected in June 2013 through online survey explores social capital and resilience indicators among the Spanish exchange community users, concluding that Spanish CCs systems improve community social capital through the proposed dimensions, although they are in an early stage and several weakness need to be corrected. The values, motivations, attitude and positive perception of their members suggest that CCs could be appropriate tools for sustainability due its potential to improve social capital and resilience. Detected weakness may affect the interests and commitment of their members. Therefore experience from senior currency systems may help them to face adversities and fully develop their potential for sustainability.

Suggested Citation

  • Oliver Sanz, Esther, 2016. "Community currency (CCs) in Spain: An empirical study of their social effects," Ecological Economics, Elsevier, vol. 121(C), pages 20-27.
    • Handle: RePEc:eee:ecolec:v:121:y:2016:i:c:p:20-27
    DOI: 10.1016/j.ecolecon.2015.11.008
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    References listed on IDEAS

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    1. Seyfang, Gill & Longhurst, Noel, 2013. "Growing green money? Mapping community currencies for sustainable development," Ecological Economics, Elsevier, vol. 86(C), pages 65-77.
    2. Jérôme Blanc, 2011. "Classifying "CCs": Community, complementary and local currencies' types and generations," Post-Print halshs-00583587, HAL.
    3. Fraňková, Eva & Fousek, Jan & Kala, Lukáš & Labohý, Jan, 2014. "Transaction network analysis for studying Local Exchange Trading Systems (LETS): Research potentials and limitations," Ecological Economics, Elsevier, vol. 107(C), pages 266-275.
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    Cited by:

    1. Larue, Louis & Meyer, Camille & Hudon, Marek & Sandberg, Joakim, 2022. "The Ethics of Alternative Currencies," Business Ethics Quarterly, Cambridge University Press, vol. 32(2), pages 299-321, April.
    2. Reyns, Ariane, 2024. "What drives businesses to transact with complementary currencies?," Ecological Economics, Elsevier, vol. 220(C).
    3. Lopaciuk-Gonczaryk, Beata, 2019. "Social Capital Formation Through a Polish LETS: Challenging the Presumed Merits of Local Currencies," Ecological Economics, Elsevier, vol. 158(C), pages 75-87.
    4. Larue, Louis, 2020. "The Ecology of Money: A Critical Assessment," Ecological Economics, Elsevier, vol. 178(C).
    5. Bruno Nogueira Silva & Wesley Vieira Silva & Alvaro Fabiano Pereira Macêdo & Natallya Almeida Levino & Luciano Luiz Dalazen & Fabíola Kaczam & Claudimar Pereira Veiga, 2024. "A systematic review on social currency: a one-decade perspective," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 636-652, June.
    6. Louis Larue, 2022. "The case against alternative currencies," Politics, Philosophy & Economics, , vol. 21(1), pages 75-93, February.
    7. Hayyan Alia & Eli Spiegelman, 2020. "Convertible local currency and trust: ‘It’s Not You, It’s Me’ – A field experiment in the French Basque Country," Local Economy, London South Bank University, vol. 35(2), pages 105-120, March.
    8. Camille Meyer & Marek Hudon, 2019. "Money and the Commons: An Investigation of Complementary Currencies and Their Ethical Implications," Journal of Business Ethics, Springer, vol. 160(1), pages 277-292, November.
    9. Matti, Josh & Zhou, Yang, 2022. "Money is money: The economic impact of BerkShares," Ecological Economics, Elsevier, vol. 192(C).

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