London Metropolitan University Research Institutes

The double meaning of money among students during the dual currency period in Estonia

Author(s) Kõiv, K.  
Publisher London: CiCe  
Year 2012  
Editor P. Cunningham & N. Fretwell (eds.) Creating Communities: Local, National and Global  
Age group -  
The aim of this paper is to compare the meaning of money within a sample of students (grades 5-7) from three different schools during the dual currency period in Estonia. This study examines pupil’s attitudes toward the Estonian kroon and the euro, as measured by the three-dimensional meaning of money - affective, behavioural and symbolic - according to Mitchell and Mickel’s (1999) classification. Analysis revealed that during the dual currency circulation period the two currencies differed significantly on all three dimensions of the meaning of money: (1) the affective meaning of the kroon was more emotionally positive across all the rating scales when compared with the euro; (2) the behavioural meaning of the euro in terms of saving and investing was more important compared with the kroon; and (3) the symbolic dimensions of the euro in terms of power and status were more highly evaluated when compared with the kroon. Keywords: dual currency circulation period, meaning of money, national currency, Euro

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