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Spatial diversity is a widely applied technique for enhancing wireless system performance since it greatly reduces the detrimental effects of multipath fading. Space-time block codes have been considered the best choice for transmit diversity in narrowband environments, but their use in broadband channels is questionable due to their inability to pick up multipath diversity. However, when used in conjunction with an MC-CDMA system, they achieve not only full spatial but also variable multipath diversity depending on the employed spreading. In comparison, cyclic delay diversity is an attractive approach to achieve spatial and multipath diversity. Its simplicity and conformability with current standards makes it desirable for multicarrier systems. Previous studies suggest that CDD is only advantageous with an outer channel code for OFDM systems. In this article, we compare STBCs and CDD applied to an MC-CDMA system in terms of complexity and performance. It is shown that for an MC-CDMA system, CDD benefits from spreading and channel coding that makes it very competitive with STBCs, particularly since it is applicable to any number of transmit antennas with no loss in rate.