English title: Introducing the Euro in Estonia and Slovakia: Did it affect people’s satisfaction?

Author(s): Mare Ainsaar - Denisa Fedáková - Ave Roots - Kaur Lumiste - Michal Kentoš - Jozef Výrost -

Language: English

Type: Journal article

Year: 2017

Abstract

Analysing the effect of societal events on the population is essential to better understand the quality of life and interaction between society and individuals. Although the event effect is well-know phenomena in economy (MacKinlay, 1997) the empirical results on the effect of events on social attitudes and well-being are still scarce and contradicting. The aim of the current study is to analyse the changes of satisfaction of people in both countries during the Euro introduction period. It will allow understand better the influence of external events on individuals. In January 2009 Slovakia and in January 2011 Estonia changed their national currency to the Euro. In both countries introduction of Euro was accompanied with positive media coverage and general acceptance of Euro as tool to achieve better living standard and large benefits from common European currency. However, because of lower European Union scepticism and higher acceptance of Euro in Slovakia we expect that the adoption of Euro have stronger positive effect in Slovakia than in Estonia. Both countries also carried out the ESS fieldwork during the currency exchange period. This allows us to study influence of the events in society on subjective satisfaction of people. We use data from European Social Survey (ESS) for Estonia and Slovakia from the rounds four and five to analyses (ESS Round 4: European Social Survey Round 4 Data, 2008; ESS Round 5: European Social Survey Round 5 Data, 2010). In conclusion the results demonstrated some positive effect of euro for Slovakia. However, the negative effects in Estonia cannot be attributed solely to euro change, because we found occasional negative episodes also from the reference year and media claims described the New Year season in 2010-11 in Estonia also as politically critical. Monitoring the contextual data and examining the effect of societal events helps to understand processes in society and plan better measurement tools, as far as timing of measurement might have an essential effect in society.

Volume: 20

Issue: 4

From page no: 1

To page no: 11

Refereed: Yes

DOI:

Journal: Človek a spoločnosť - Individual and Society