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Gaining Global Clout Through Monetary Union: Evidence from East Africa

Author

Listed:
  • Bizuneh, Menna

    (Pitzer College)

  • Buigut, Steven

    (American University at Dubai)

  • Valev, Neven

    (Georgia State University)

Abstract

Gaining international clout is an important motivation in pursuing monetary integration, as small country merge into a larger entity that can project more global power. We provide evidence to that effect using survey data from Kenya pertaining to public support for the proposed East African Monetary Union. We show that Kenyans prefer a larger union with more members for the purpose of gaining global clout. However, not all potential member countries are equally welcomed. Larger and more stable countries are favored over fragile states.

Suggested Citation

  • Bizuneh, Menna & Buigut, Steven & Valev, Neven, 2018. "Gaining Global Clout Through Monetary Union: Evidence from East Africa," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 33(2), pages 1363-1387.
    • Handle: RePEc:ris:integr:0736
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    Citations

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    Cited by:

    1. Menna Bizuneh & Steven Buigut & Neven Valev, 2020. "Beyond Borders: The Euro Crisis and Public Support for Monetary Integration in East Africa," South African Journal of Economics, Economic Society of South Africa, vol. 88(4), pages 518-535, December.
    2. Francis Onditi, 2021. "What does the Data Tell Us About Dominatarian Theory of Regional Integration?," Jadavpur Journal of International Relations, , vol. 25(1), pages 73-100, June.

    More about this item

    Keywords

    Monetary Union; International Clout; Optimal Size; East African Community;
    All these keywords.

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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