Title: The fear of exclusion and public support for a multilateral monetary union

Authors: Steven Buigut

Addresses: Department of Accounting and Finance, American University in Dubai, P.O. 28282, Dubai, UAE

Abstract: Public attitude towards monetary union is influenced by a broad set of considerations; some well beyond the realm of economics. This paper investigates the public|s fear of exclusion and its impact on their support for multilateral monetary union. Using survey data from the East African Community (EAC), it is shown that the public|s support for multilateral monetary union is significantly greater when faced with a threat of exclusion than when no such threat exists. The level of education and the preference for monetary policy control are strong predictors of the fear of exclusion.

Keywords: fear of exclusion; public support; monetary union; survey data; EAC; East African Community; education level; monetary policy control.

DOI: 10.1504/IJMEF.2010.031232

International Journal of Monetary Economics and Finance, 2010 Vol.3 No.2, pp.112 - 125

Published online: 26 Jan 2010 *

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