Local Currencies Versus the Level of Economic Security of the Region During the COVID-19 Period

• Published in: WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 2020, Vol.17, p.889-899
• Main Authors: Stępnicka, Nina, Wiączek, Paulina, Brzozowiec, Dariusz
• Format: Article
• Language: English
• ISSN: 1109-9526
• DOI: 10.37394/23207.2020.17.87

Local currencies are tools typical of the social economy, affecting the real economy and serving as an instrument for reducing instability, including economic fluctuations, especially in times of crisis, difficult economic situation, etc. They are an alternative to national currencies, but they also help to support local traders. An example of a local currency is the Zielony Polish Local Currency introduced by the group of enthusiasts in 2015. Local currencies contribute to building the local community, supporting cooperative activity and the local economy, and promoting sustainable development. They also protect local communities from the negative consequences of economic fluctuations. The aim of the work is to determine the impact of local currencies on increasing the level of economic security of the region especially during periods of economic security risks, e.g. in the context of the epidemic risk caused by COVID-19. The work is theoretical. The methods used in the work are: critical literature analysis and statistical method.