Beyond Borders: The Euro Crisis and Public Support for Monetary Integration in East Africa

Menna Bizuneh, Steven Buigut and Neven Valev

South African Journal of Economics, 2020, vol. 88, issue 4, 518-535

Abstract: We show that economic experiences in one part of the world affect proposed policies elsewhere. Specifically, we find that the recent crisis in the European Monetary Union (EMU) has impacted negatively the public support for the new proposed monetary union in the East African Community (EAC), with a more pronounced effect for less educated Kenyans. That external effect is robust to controlling for an array of other factors such as the expected economic benefits from the union, the desire to gain international influence as part of a larger community and the memory of an earlier failed EAC monetary union.

Date: 2020
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https://doi.org/10.1111/saje.12258

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Persistent link: https://EconPapers.repec.org/RePEc:bla:sajeco:v:88:y:2020:i:4:p:518-535

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