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

Francisco Javier García-Corral, Jaime de Pablo-Valenciano, Juan Milán-García and José Antonio Cordero-García
Additional contact information
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

Sustainability, 2020, vol. 12, issue 14, 1-22

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.

Keywords: local development; PMI; SWOT; Flying Balloon; currency; local council; society; Almócita (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/2071-1050/12/14/5672/pdf (application/pdf)
https://www.mdpi.com/2071-1050/12/14/5672/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:12:y:2020:i:14:p:5672-:d:384667

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().