Local currency in the rural economies

Bácsi, Judit and Takács, István (2015) Local currency in the rural economies. ANNALS OF THE POLISH ASSOCIATION OF AGRICULTURAL AND AGRIBUSINESS ECONOMISTS, 17 (3). pp. 19-24. ISSN 1508-3535


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Globalization has opened the market for small and medium size enterprises. However, global corporations have become the largest competitors for local companies. The key actors of rural economies are small and medium size enterprises. The condition of rural economies is significant in connection with the condition of local firms and their local competitiveness. This paper summarizes the most important results and conclusions of research into the North-Balaton touristic region - where a local currency was issued some years ago. It examines the attitudes of the entrepreneurs participating in a community currency system, and the preferences of habitants accepting the vouchers of a community currency as part of their wages and using them for purchasing goods and services. The most relevant conclusion is that most of the inhabitants do not prefer the local currency, and only a small portion of the inhabitants think that they contribute to the growth of the local economy by using the local currency. Many entrepreneurs are not interested in accepting the local currency because of the limited ability of utilization as well as its high transaction cost.

Item Type: Article
Subjects: H Social Sciences / társadalomtudományok > HB Economic Theory / közgazdaságtudomány
S Agriculture / mezőgazdaság > S1 Agriculture (General) / mezőgazdaság általában
Depositing User: MTMT SWORD
Date Deposited: 20 Dec 2015 10:52
Last Modified: 20 Dec 2015 10:52

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