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Local Currencies In The Rural Economies

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  • Bácsi, Judit
  • Takács, István

Abstract

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.

Suggested Citation

  • Bácsi, Judit & Takács, István, 2015. "Local Currencies In The Rural Economies," Roczniki (Annals), Polish Association of Agricultural Economists and Agribusiness - Stowarzyszenie Ekonomistow Rolnictwa e Agrobiznesu (SERiA), vol. 2015(3), June.
    • Handle: RePEc:ags:paaero:233141
    DOI: 10.22004/ag.econ.233141
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    References listed on IDEAS

    as
    1. Gill Seyfang, 2006. "Sustainable consumption, the new economics and community currencies: Developing new institutions for environmental governance," Regional Studies, Taylor & Francis Journals, vol. 40(7), pages 781-791.
    2. Bácsi, Judit & Herczeg, István, 2014. "Local Currency As A Tool Of Risk Management In The Small And Medium Enterprises Sector," Roczniki (Annals), Polish Association of Agricultural Economists and Agribusiness - Stowarzyszenie Ekonomistow Rolnictwa e Agrobiznesu (SERiA), vol. 2014(3).
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