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RESEARCH PRODUCT

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

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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.