The role of trust in economic development process (example of Lithuania and Belarus)

Abstract

The authors’ hypothesis in writing this article was the comparison of the levels of trust in Belarus and Lithuania, as the countries belonging to two different economic and political paradigms. By comparing the levels of trust, the authors planned to describe the role of confidence in the national currency and the difference in the use of regional, national, or world currency in the economy of a particular country. However, a comparison of the levels of trust based on an international study allowed us to attribute the relation «confidence – the level of economic development» in Lithuania and Belarus to the exception countries. This happens as a result of the volatility of social and economic processes in these countries. As a result, the authors found it possible to demonstrate a comparison of the level of trust in countries, describe the role of confidence in the national currency and issues of dollarization, as well as to present some assumptions that will form the basis for future publications.