Abstract

It has been 10 years since the introduction of the euro in Slovakia. Regarding the introduction of the single currency, we can highlight factors that have contributed to the economic recovery experienced in recent years. Besides the positive effects, the negative effect appeared as well. The basic goal of the research is to map the experience Slovakia had with the introduction of the euro, 10 years following the introduction of the single currency. In order to achieve the research objectives, we applied primary data collection to obtain information about the researched issue. An anonymous questionnaire survey was conducted among the respondents. Data collection among the residents was realized with the help of an agent, but also an online questionnaire was provided for the respondents in the time interval of 6-20th December 2018. Basic statistic indicators were used to verify our assumptions. The most informed about the role of the ECB and the EU common financial policy were the respondents of age group 26-40, while the respondents over 56 were more informed where the ECB is headquartered. These results can be explained by the fact that the younger generation developed resistance towards the political situation in the EU, they have less interest and show indifference. The proportion of respondents with a clear negative opinion has increased both among the respondents with full secondary school degree and those with college or university degree. The biggest disadvantage they experienced was the increasing price of products. We find it important to suggest that the active involvement of MEPs within a framework of an intensive information campaign is essential. The main objective would be to bring closer the EU economic policy to economically active people and make them less resistant and uninterested in the policy of the EU due to lack of information. We recommend highlighting positive facts regarding the introduction of the single currency not only in the field of international trade but also in everyday transactions on national and EU level. An information campaign is suggested to highlight the positive aspects.The original contribution and the main added value of the paper is the mapping of the consequence of the euro introduction in Slovakia. The example of Slovakia can be a starting point for the tasks to be completed by the neighbouring EU member countries e.g. Czech Republic, Hungary to enter the eurozone.

Keywords: consequence, EU integration, euro, primary research, Slovakia, ECB.

JEL Classification: G00, E49, E59.

Cite as: Korcsmáros, E., Machová, R., Šeben, Z., & Feher, L. (2019). Changing in consumer loyalty as a reaction for EU integration in Slovakia. Marketing and Management of Innovations, 2, 206-216. https://doi.org/10.21272/mmi.2019.2-18

This work is licensed under a Creative Commons Attribution 4.0 International License

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