Analysis of Citizens' Preference for a Single Currency: The Case of the Economic and Monetary Community of Central Africa

Bodjongo, Mathieu Juliot Mpabe

doi:2023.38.3.411

Journal of Economic Integration 2023 September;38(3) :411-438.
DOI: https://doi.org/10.11130/jei.2023.38.3.411

Analysis of Citizens' Preference for a Single Currency: The Case of the Economic and Monetary Community of Central Africa

Mathieu Juliot Mpabe Bodjongo

Faculty of Economics and Management of University of Dschang, Dschang, Cameroon

Corresponding Author: Mathieu Juliot Mpabe Bodjongo ,Email: mpabebodjongo@yahoo.fr

ABSTRACT

This study explored the level of support for a single currency among citizens of the Economic and Monetary Community of Central Africa member countries. It also identified the factors that explain this support. The results of the probit model applied to Afrobarometer 2021 data highlight the influence of certain factors (the country's economic situation, citizens' living conditions, internet access, place of residence, perception of the evolution of corruption, and the effectiveness of subregional institutions) in explaining citizens' support for a single currency. In particular, when comparing Cameroonian and Gabonese citizens, this study determined that the factors of support are not entirely comparable.

JEL Classification

E02: Institutions and the Macroeconomy
E71:
F45: Macroeconomic Issues of Monetary Unions

Keywords: Citizen preference | single currency | CEMAC