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Self-funded social impact investment: an interdisciplinary analysis of the Sardex mutual credit system

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  • Motta, Wallis
  • Dini, Paolo
  • Sartori, Laura

Abstract

Sardex is a B2B electronic complementary currency and mutual credit system. It allows private funding to be endogenously generated within a geographically limited socio-economic context, rather than injected from exogenous sources, leading to a greater level of positive social impact. Sardex promotes stable and constructive integration of market activity with democratic institutions and sociocultural values, and is hence identified with sustainable development. By drawing on different strands of monetary theory, sociology and anthropology, the paper argues that Sardex implements a form of self-funded social impact investment. This paper presents a case study based on 29 semi-structured in-depth interviews of Sardex actors over four years.

Suggested Citation

  • Motta, Wallis & Dini, Paolo & Sartori, Laura, 2017. "Self-funded social impact investment: an interdisciplinary analysis of the Sardex mutual credit system," LSE Research Online Documents on Economics 73961, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:73961
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    Cited by:

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    2. Filipe Moreira Alves & Rui Santos & Gil Penha-Lopes, 2022. "Revisiting the Missing Link: An Ecological Theory of Money for a Regenerative Economy," Sustainability, MDPI, vol. 14(7), pages 1-18, April.
    3. Fleischman, Tomaž & Dini, Paolo & Littera, Giuseppe, 2020. "Liquidity-saving through obligation-clearing and mutual credit: an effective monetary innovation for SMEs in times of crisis," LSE Research Online Documents on Economics 107529, London School of Economics and Political Science, LSE Library.
    4. Tomaž Fleischman & Paolo Dini & Giuseppe Littera, 2020. "Liquidity-Saving through Obligation-Clearing and Mutual Credit: An Effective Monetary Innovation for SMEs in Times of Crisis," JRFM, MDPI, vol. 13(12), pages 1-30, November.
    5. Luigi Doria & Luca Fantacci, 2018. "Evaluating complementary currencies: from the assessment of multiple social qualities to the discovery of a unique monetary sociality," Quality & Quantity: International Journal of Methodology, Springer, vol. 52(3), pages 1291-1314, May.
    6. 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.
    7. Dini, Paolo & Kioupkiolis, Alexandros, 2019. "The alter-politics of complementary currencies: the case of Sardex," LSE Research Online Documents on Economics 101368, London School of Economics and Political Science, LSE Library.
    8. Alexandra Lenis Escobar & Ramón Rueda López & Jorge E. García Guerrero & Enrique Salinas Cuadrado, 2020. "Design of Strategies for the Implementation and Management of a Complementary Monetary System Using the SWOT-AHP Methodology," Sustainability, MDPI, vol. 12(17), pages 1-23, August.

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    More about this item

    Keywords

    mutual credit; social finance; sustainable development; anthropology; monetary theory; sociology;
    All these keywords.

    JEL classification:

    • F3 - International Economics - - International Finance
    • G3 - Financial Economics - - Corporate Finance and Governance

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    This paper has been announced in the following NEP Reports:

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