Local Currency as a Mean of Regional Competitiveness Development
Martin Cepel, Aleksandr Kljucnikov, Ludmila Kozubikova, Vladimir Krajcik
Keywords:
local currency, digital currency, Cieszyn Silesia region, competitiveness
Abstract:
This article aims to define and analyze important factors of the introduction of a local currency.
The research was carried out in the Cieszyn Silesia region. A questionnaire was prepared and
distributed among the employees of both public and private companies in the region and filled
in by 422 respondents. Advanced data analysis methods were used to evaluate the questionnaire:
contingency tables, absolute and relative species abundance, the Pearson’s chi-squared test, along
with a standard score (Z-score). Respondents’ attitudes towards introducing the local currency
led to some interesting results. Most respondents know the term “local currency,” but only one
third of them are able to interpret this term correctly. 65% of the respondents are familiar with
the term “digital currency,” but only 11% of them have trust in the concept. According to the
received answers, the credibility of digital currency can be increased by it being ensured by trustworthy
subjects. Three out of four respondents predict that the introduction of digital currency
would significantly support regional producers and service providers. These results are used as
the information base for assessments regarding the types of employee benefits on offer by major
employers in the region along with cooperating institutions of the public non-profit sector, as
well as for an academic discussion on the suitability of the local currency in the Czech Republic
and its impact.
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 Local Currency as a Mean of Regional Competitiveness Development [PDF file] [Filesize: 531.97 KB]
 10.7441/joc.2019.04.02
Cepel, M., Kljucnikov, A., Kozubikova, L., & Krajcik, V. (2019). Local Currency as a Mean of Regional
Competitiveness Development. Journal of Competitiveness, 11(4), 22–39. https://doi.org/10.7441/joc.2019.04.02
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