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Complementary Currencies: An Analysis of the Creation Process Based on Sustainable Local Development Principles

Author

Listed:
  • Francisco Javier García-Corral

    (Research Group: Almeria Group of Applied Economy (SEJ-147), University of Almeria, 04120 Almeria, Spain)

  • Jaime de Pablo-Valenciano

    (Department of Business and Economics, Applied Economic Area, University of Almeria, 04120 Almeria, Spain)

  • Juan Milán-García

    (Department of Business and Economics, Applied Economic Area, University of Almeria, 04120 Almeria, Spain)

  • José Antonio Cordero-García

    (Department of Law, Financial and Tax Law, University of Almeria, 04120 Almeria, Spain)

Abstract

Complementary currencies are a reality and are being applied both globally and locally. The aim of this article is to explain the viability of this type of currency and its application in local development, in this case, in a rural mountain municipality in the province of Almería (Spain) called Almócita. The Plus, Minus, Interesting (PMI); “Flying Balloon”; and Strength, Weakness, Opportunity (SWOT) analysis methodologies will be used to carry out the study. Finally, a ranking of success factors will be carried out with a brainstorming exercise. As to the results, there are, a priori, more advantages than disadvantages of implementing these currencies, but the local population has clarified that their main concern is depopulation along with a lack of varied work. As a counterpart to this and strengths or advantages, almost all the participants mention the support from the Almócita city council and the initiatives that are constantly being promoted.

Suggested Citation

  • Francisco Javier García-Corral & Jaime de Pablo-Valenciano & Juan Milán-García & José Antonio Cordero-García, 2020. "Complementary Currencies: An Analysis of the Creation Process Based on Sustainable Local Development Principles," Sustainability, MDPI, vol. 12(14), pages 1-22, July.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:14:p:5672-:d:384667
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    References listed on IDEAS

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    Cited by:

    1. 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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