Monetary Union Among Member Countries of the Gulf Cooperation Council
August 29, 2003
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The six member countries of the Gulf Cooperation Council (GCC)--Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates--have made important progress toward economic and financial integration, with the aim of establishing an economic and monetary union. This paper provides a detailed analysis of the economic performance and policies of the GCC countries during 1990-2002. Drawing on the lessons from the experience of selected currency and monetary unions in Africa, Europe, and the Caribbean, it assesses the potential costs and benefits of a common currency for GCC countries and also reviews the options for implementing a monetary union among these countries.
Subject: Banking, Credit, Currencies, Economic integration, Financial markets, Monetary unions, Money, Oil prices, Prices, Stock markets
Keywords: Africa, Asia and Pacific, Caribbean, common currency, country, Credit, Currencies, Europe, GCC, GCC area, GCC authorities, GCC country, GCC monetary union, GCC national, Global, monetary union, Monetary unions, Oil prices, OP, Stock markets
Pages:
72
Volume:
2003
DOI:
Issue:
006
Series:
Occasional Paper No. 2003/006
Stock No:
S223EA
ISBN:
9781589062191
ISSN:
0251-6365
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