Public support is crucial for the success of a monetary union. An aspect of the monetary unification process that could influence public support is how the decision to participate is made. This article analyzes the determinants of the public’s preference for a referendum on the adoption of a common currency. The survey data used is from Kenya, a member of the East African Community (EAC) which currently is pursuing a monetary union. The results suggest a younger public increases the probability that a referendum will be the preferred method. Sharing a language or culture with communities in other member countries increases the probability that a referendum is preferred, while a more favorable appraisal of the effects of monetary union decreases the probability of choosing the referendum.
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Article provided by Economics Bulletin in its journal Economics Bulletin.
Find related papers by JEL classification: F3 - International Economics - - International Finance E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Alberto Alesina & Robert J. Barro, 2000.
"Currency Unions,"
NBER Working Papers
7927, National Bureau of Economic Research, Inc.
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