Keywords
sustainable local development
local currency Zielony
local currency Bratislavský Živec
local currency Širocký Sokol
How to Cite
Abstract
The topic of local currencies as tools and solutions falls within the realm of social economy and sustainable development in the local economy. The aim of this article was to assess the level of knowledge about social economy and sustainable development in the context of the growing role of complementary currencies in the local economy as a tool supporting its development. The main methods used in the article were a critical literature review, comparative analysis, and statistical methods. The research results showed that the level of knowledge about issues related to the principles of social economy and sustainable development is sufficient and promising, but linking the topic of local currencies to the principles of social economy and sustainable development poses significant challenges. The research led to the formulation of a main conclusion: local currencies in Poland and Slovakia require greater theoretical and praxeological attention, which could significantly translate into increased popularity and wider application in economic practice.
References
Collom, E. (2011). Motivations and differential participation in a community currency system: The dynamics within a local social movement organization. Sociological Forum, 26(1), 144–168. https://doi.org/10.1111/j.1573-7861.2010.01228.x
Fare, M., De Freitas, C., & Meyer, C. (2015). Territorial development and community currencies: Symbolic meanings in Brazilian community development banks. International Journal of Community Currency Research, 19(D), 6–17. https://doi.org/10.15133/j.ijccr.2015.002
García-Corral, F. J., de Pablo-Valenciano, J., Milán-García, J., & Cordero-García, J. A. (2020). Complementary currencies: An analysis of the creation process based on sustainable local development principles. Sustainability, 12(14), 5672. https://doi.org/10.3390/su12145672
Giménez, A. F. C., & Tamajón, L. G. (2019). An analysis of the process of adopting local digital currencies in support of sustainable development. Sustainability, 11(3), 849. https://doi.org/10.3390/su11030849
International Labour Organization. (2019). Financial mechanisms for innovative social and solidarity economy ecosystems. https://www.ilo.org/publications/financial-mechanisms-innovative-social-and-solidarity-economy-ecosystems-5
International Training Centre of the International Labour Organization. (2014). Campinas, Social and Solidarity Economy: Towards Inclusive and Sustainable Development. https://www.ilo.org/sites/default/files/wcmsp5/groups/public/@ed_emp/@emp_ent/@coop/documents/publication/wcms_329359.pdf
Kljucnikov, A., Civelek, M., Krajčík, V., & Polach, J. (2020). Customer attitude to the local currency implementation. Marketing and Management of Innovations, 4, 76–85. https://doi.org/10.21272/mmi.2020.4-06
Kwon, M., Lee, C., Xiao, Y., & McIntosh, W. A. (2017). Community currency activities, community attachment, and quality of life: A case study of the Crooked River Alliance of TimeBanks. Time & Society, 28(3), 1181–1220. https://doi.org/10.1177/0961463X17716737
Mattsson, C. E. S., Criscione, T., & Ruddick, W. O. (2022). Sarafu Community Inclusion Currency 2020–2021. Scientific Data, 9, 426. https://doi.org/10.1038/s41597-022-01539-4
Meyer, C., & Hudon, M. (2017). Alternative organizations in finance: Commoning in complementary currencies. Organization, 24(5), 629–647. https://doi.org/10.1177/1350508417713216
Miszczuk, M. (2018). Local currencies as an instrument for implementing the concept of sustainable development. Problemy Ekorozwoju, 13(2), 83–90. https://ph.pollub.pl/index.php/preko/article/view/5016 (in Polish).
Peacock, M. S. (2014). Complementary currencies: History, theory, prospects. Local Economy, 29(7), 708–722. https://doi.org/10.1177/0269094214553174
Petz, M., & Eskelinen, T. (2019). Sysmä community currency: An analysis of its success from the perspectives of purposes, stakeholders and promotion. European Countryside, 11(3), 417–442. https://doi.org/10.2478/euco-2019-0024
Ruddick, W. O., Richards, M. A., & Bendell, J. (2015). Complementary currencies for sustainable development in Kenya: The case of the Bangla-Pesa. International Journal of Community Currency Research, 19(D), 18–30. https://doi.org/10.15133/j.ijccr.2015.003
Sartori, L., & Dini, P. (2016). From complementary currency to institution: A micro-macro study of the Sardex mutual credit system. LSE Research Online Documents on Economics, 67135. https://ideas.repec.org/p/ehl/lserod/67135.html
Serrano, M., & Xhafa, E. (2011). Beyond the capitalist logic: Theoretical debates and social experiences. In M. Serrano, E. Xhafa, & M. Fichter (Eds.), Trade unions and the global crisis: Labour’s visions, strategies and responses (pp. 19–34). International Labour Organization.
Seyfang, G. (2002). Tackling social exclusion with community currencies: Learning from LETS to Time Banks. International Journal of Community Currency Research, 6(1), 1–11. http://dx.doi.org/10.15133/j.ijccr.2002.002
Seyfang, G., & Longhurst, N. (2013). Growing green money? Mapping community currencies for sustainable development. Ecological Economics, 86, 65–77. https://doi.org/10.1016/j.ecolecon.2012.11.003
Stępnicka, N., Wiączek, P., & Brzozowiec, D. (2020). Local currencies versus the level of economic security of the region during the COVID-19 period. WSEAS Transactions on Business and Economics, 17, 889–899. https://doi.org/10.37394/23207.2020.17.87
Stępnicka, N., Zimon, G., & Brzozowiec, D. (2021). The complementary currency Zielony in Poland and its importance for the development of local economy entities during the COVID-19 pandemic lockdown. Sustainability, 13(16), 9184. https://doi.org/10.3390/su13169184
Visser, W. (2005). Business frontiers: Social responsibility, sustainable development and economic justice. The ICFAI University Press.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Copyright (c) 2026 Economics and Environment