Providing official Statistics for the Common Market and Monetary Union in the Gulf Cooperation Council (GCC) Countries

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Publisher : International Monetary Fund
ISBN 13 : 1451862989
Total Pages : 33 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Providing official Statistics for the Common Market and Monetary Union in the Gulf Cooperation Council (GCC) Countries by : Abdulrahman K. L. Al-Mansouri

Download or read book Providing official Statistics for the Common Market and Monetary Union in the Gulf Cooperation Council (GCC) Countries written by Abdulrahman K. L. Al-Mansouri and published by International Monetary Fund. This book was released on 2006-02-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The six member states of the Gulf Cooperation Council (GCC)-Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE)-have laid out a path to a common market by 2007 and monetary union by 2010, based on economic convergence. To monitor convergence and support economic and monetary policy, comparable economic data for member countries and data for the region as a whole will be essential. What is the most efficient way to produce these data? The authors survey the statistical institutions in the GCC countries and present the case for creating "Gulfstat"-a regional statistical agency to operate within a "Gulf States System of Statistics." Valuable lessons can be learned from regional statistical organization in Africa and the European Union-Afristat and Eurostat.

IMF Working Papers

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (842 download)

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Book Synopsis IMF Working Papers by : Al-Mansouri

Download or read book IMF Working Papers written by Al-Mansouri and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Some Principles for Development of Statistics for a Gulf Cooperation Council Currency Union

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Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Some Principles for Development of Statistics for a Gulf Cooperation Council Currency Union by : Russell C. Krueger

Download or read book Some Principles for Development of Statistics for a Gulf Cooperation Council Currency Union written by Russell C. Krueger and published by International Monetary Fund. This book was released on 2006-06 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looking ahead to the creation of a Gulf Cooperation Council (GCC) Currency Union in 2010, the paper covers some implications for the statistical programs of the GCC countries. Despite uncertainty over the structure of the proposed union, the paper envisions several types of mutually reinforcing statistics-convergence criteria, statistics on the core policy variables and instruments, additional macroeconomic data, specialized statistics related to the economic and institutional conditions within the union, and public information. Major changes to national statistical programs are needed that should begin soon.

Monetary Union in the Gulf

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Publisher : Routledge
ISBN 13 : 1134046308
Total Pages : 198 pages
Book Rating : 4.1/5 (34 download)

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Book Synopsis Monetary Union in the Gulf by : Emilie Rutledge

Download or read book Monetary Union in the Gulf written by Emilie Rutledge and published by Routledge. This book was released on 2008-07-30 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: At a time of momentous shifts in the balance of world economic forces epitomized by the current oil price boom, the weakening US dollar and the global credit crunch; the meteoric rise of the Arabian peninsula cannot be understated. Neither, therefore, can their planned monetary union. As key suppliers of the worlds oil and gas the Gulf states have

GCC Monetary Union

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Publisher : Emirates Center for Strategic Studies and Research
ISBN 13 : 9948140974
Total Pages : 12 pages
Book Rating : 4.9/5 (481 download)

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Book Synopsis GCC Monetary Union by : Emilie Rutledge

Download or read book GCC Monetary Union written by Emilie Rutledge and published by Emirates Center for Strategic Studies and Research. This book was released on 2009-08-20 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: It remains open to question whether or not the unfolding global economic slowdown will aid or abet the Gulf Cooperation Council’s (GCC) monetary union plans. In fact there are cogent arguments to suppose it could do either. On the one hand, the fate of the Icelandic Krona and the sharp fall of Sterling suggest that staying outside of a monetary union (MU) can be costly and by default Eurozone membership has thus far acted as a safety net. Yet the uncertainty brought about by the credit crunch and ensuing liquidity crisis has resulted in a precipitous fall in both the demand for and price of oil. So, on the other hand, it is now increasingly hard for GCC governments to determine their own revenue streams let alone those of their neighbors. Therefore, their ability to meet and monitor MU convergence targets between now and 2010 will now be that much harder to achieve. The following country by country cost-benefit analysis provides some initial guidance on the country-specific factors that may well influence decisions on whether or not a given country ultimately decides to join the MU. Despite the fact that as this paper goes to press, four of the six GCC states still officially intend to enter into a MU as scheduled next year; it is entirely possible that the launch date may be deferred. It is clear that this ambitious integration project is more than a pipe dream with concrete steps taken such as the launch of a GCC customs union in 2003 and a common market in 2008. Despite all six states signing up to the GCC Economic Agreement of 2001, which clearly set out the roadmap towards a single currency by 2010, Oman’s decision to opt out (citing ‘a lack of progress’ in 2006), the UAE’s concerns over the location of the central bank and Kuwait’s move away from the collective dollar peg (in order to tackle ‘imported inflation’ in 2007) can only be viewed as setbacks. However, these setbacks are not insurmountable, as shown by several European Union countries, notably the UK and Sweden, which decided not to go along with the European Monetary Union (EMU) process.

Monetary Union Among Member Countries of the Gulf Cooperation Council

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Publisher : International Monetary Fund
ISBN 13 : 9781589062191
Total Pages : 80 pages
Book Rating : 4.0/5 (621 download)

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Book Synopsis Monetary Union Among Member Countries of the Gulf Cooperation Council by : Mr.Ugo Fasano-Filho

Download or read book Monetary Union Among Member Countries of the Gulf Cooperation Council written by Mr.Ugo Fasano-Filho and published by International Monetary Fund. This book was released on 2003-08-29 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Economic Diversification in the GCC

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Publisher : International Monetary Fund
ISBN 13 : 1498303234
Total Pages : 32 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Economic Diversification in the GCC by : Mr.Tim Callen

Download or read book Economic Diversification in the GCC written by Mr.Tim Callen and published by International Monetary Fund. This book was released on 2014-12-23 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable growth, and help create the non-oil economy that will be needed in the future when oil revenues start to dwindle. The GCC countries have followed many of the standard policies that are usually thought to promote more diversified economies, including reforms to improve the business climate, the development of domestic infrastructure, financial deepening, and improvements in education. Nevertheless, success to date has been limited. This paper argues that increased diversification will require realigning incentives for firms and workers in the economies—fixing these incentives is the “missing link” in the GCC countries’ diversification strategies. At present, producing non-tradables is less risky and more profitable for firms as they can benefit from the easy availability of low-wage foreign labor and the rapid growth in government spending, while the continued availability of high-paying and secure public sector jobs discourages nationals from pursuing entrepreneurship and private sector employment. Measures to begin to address these incentive issues could include limiting and reorienting government spending, strengthening private sector competition, providing guarantees and financial support for those firms engaged in export activity, and implementing labor market reforms to make nationals more competitive for private sector employment.

Gulf Cooperation Council Countries (GCC)

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Publisher :
ISBN 13 : 9781484383315
Total Pages : pages
Book Rating : 4.3/5 (833 download)

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Book Synopsis Gulf Cooperation Council Countries (GCC) by : Samya Beidas-Strom

Download or read book Gulf Cooperation Council Countries (GCC) written by Samya Beidas-Strom and published by . This book was released on 2011-10-02 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Departmental papers are usually focused on a specific economic topic, country, or region. They are prepared in a timely way to support the outreach needs of the IMF’s area and functional departments.

Prospects for Monetary Cooperation and Integration in East Asia

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Publisher : MIT Press
ISBN 13 : 0262013991
Total Pages : 339 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Prospects for Monetary Cooperation and Integration in East Asia by : Ulrich Volz

Download or read book Prospects for Monetary Cooperation and Integration in East Asia written by Ulrich Volz and published by MIT Press. This book was released on 2010 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: East Asian countries were notably uninterested in regional monetary integration until the late 1990's, when the Asian financial crisis revealed the fragility of the region's exchange rate arrangements and highlighted the need for a stronger regional financial architecture. Since then, the countries of East Asia have begun taking steps to explore monetary and financial cooperation, establishing such initiatives as regular consultations among finance ministers and central bank governors and the pooling of foreign exchange reserves. In this book Ulrich Volz investigates the prospects for monetary cooperation and integration in East Asia, using state-of-the-art theoretical and empirical tools to analyze the most promising policy options. --

Gulf Cooperation Council Monetary Unification

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (727 download)

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Book Synopsis Gulf Cooperation Council Monetary Unification by : Yahya Alyafai

Download or read book Gulf Cooperation Council Monetary Unification written by Yahya Alyafai and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this report, I investigate the possibility of a monetary unification among the Arab States. The Gulf Cooperation Council (GCC) states that include Bahrain, Saudi Arabia, Qatar, UAE, Kuwait and Oman are coming together on the basis of common ethnicity, religion, culture, traditions, and monetary issues. This research will discuss different factors upon which the monetary unification and the birth of a new currency depend. For comparison to the Euro, I closely examined different factors such as inflation rates, exchange rates, trade, etc. over the past decade. As stated, this examination was done to see how these factors compare with those of the Euro region to determine if a similar monetary unification among the GCC states is possible. The target date for launching the new GCC currency was January 1, 2010; however that date has long passed. Although the above mentioned factors are favorable to currency unification of the GCC states, ample time is necessary to achieve such a herculean feat. After all, the Europeans did not achieve the unification of the Euro in one night. One hurdle to unification is that the GCC states still need to control the inflation rates in their own economies. Other economic factors, such as trade, have been favorable for all the GCC states, and all the states have been doing well in terms of the U.S. dollar (USD). Although unification may not have met the January 1, 2010 goal, the GCC will still be observing the economic factors and considering other possible scenarios. All the GCC countries vow to achieve this unification.

The Report: Dubai 2008

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Publisher : Oxford Business Group
ISBN 13 : 1902339053
Total Pages : 220 pages
Book Rating : 4.9/5 (23 download)

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Book Synopsis The Report: Dubai 2008 by :

Download or read book The Report: Dubai 2008 written by and published by Oxford Business Group. This book was released on 2008 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Gulf Cooperation Council

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Publisher : Institute of Southeast Asian Studies
ISBN 13 : 9814311405
Total Pages : 71 pages
Book Rating : 4.8/5 (143 download)

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Book Synopsis The Gulf Cooperation Council by : Linda Low

Download or read book The Gulf Cooperation Council written by Linda Low and published by Institute of Southeast Asian Studies. This book was released on 2011 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Gulf Cooperation Council (GCC) is comprised of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Possessing a significant share of the world's oil and gas reserves and including some of the world's fastest growing economies, the GCC is a significant regional grouping. As with the Association of Southeast Asian Nations (ASEAN), the Council has made significant progress towards economic integration. Seeking to draw out lessons applicable to ASEAN, this report looks at the structure and evolution of the GCC. This includes the context within which the Council was established, its rationale, and economic importance. It then follows the organization's development over time, paying particular importance to its progress from Customs Union and Common Market towards Monetary Union. The report then sets out the key challenges ahead for the Council, and concludes by highlighting the structural, organizational, and political lessons that resonate with ASEAN and its membership.

Monetary and Financial Integration in West Africa

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Publisher : Routledge
ISBN 13 : 1136935304
Total Pages : 503 pages
Book Rating : 4.1/5 (369 download)

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Book Synopsis Monetary and Financial Integration in West Africa by : Temitope Oshikoya

Download or read book Monetary and Financial Integration in West Africa written by Temitope Oshikoya and published by Routledge. This book was released on 2013-11-11 with total page 503 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary and Financial Integration in West Africa details the progress, challenges faced, and potential of the project intended to create a West African Monetary Zone (WAMZ) between Gambia, Ghana, Guinea, Nigeria and Sierra Leone. Given the trend towards regionalization of economic ties across the world, especially after the successful launch of the euro, a detailed analysis of the WAMZ is needed. As this is the first book on monetary and financial integration in Gambia, Ghana, Guinea, Nigeria and Sierra Leone, it is an essential read for anyone interested in economic development in West Africa, and indeed in Africa as a whole. This book is extremely well-researched, with detail on virtually all aspects of economic integration in the region; with issues ranging from the institutional details of integration, trade and financial market integration, to progress on convergence of macroeconomic fundamentals to the required payments system infrastructure. The book deploys solid empirical facts and sophisticated analyses to thoroughly defend its assertions. This collection is a valuable contribution and an excellent companion book for monetary economics or international economics classes as well as African development literature. It will provide students and researchers with an exciting chance to apply concepts of, for example, optimum currency areas, central bank structure or monetary policy approaches, to a real-world case of potential monetary union. Dr. Temitope W. Oshikoya and his collaborators have written the authoritative book on the subject of monetary union in the West African Monetary Zone. As is evident in the level of detail of the book, Dr. Oshikoya brings rich field experience from his role as Director General and CEO of the West African Monetary Institute. This book will be of interest to postgraduates and researchers in development economics; as well as policymakers, monetary authorities and development practitioners.

Regional Integration, Economic Development and Global Governance

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Publisher : Edward Elgar Publishing
ISBN 13 : 1849809151
Total Pages : 393 pages
Book Rating : 4.8/5 (498 download)

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Book Synopsis Regional Integration, Economic Development and Global Governance by : Ulrich Volz

Download or read book Regional Integration, Economic Development and Global Governance written by Ulrich Volz and published by Edward Elgar Publishing. This book was released on 2011 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores a central issue of the world economy today: the role of regional integration for economic development and global governance. The importance of this issue comes from the fact that the globalisation process that we have been experiencing in recent decades is also a process of open regionalism. [¿] To what extent does this process contribute to development? The reader will find many interesting answers to this question in the book, [which] is an outstanding contribution to this debate. I welcome its publication and look forward to its influence on global debates on the relations between regional integration, development and global governance.' - From the foreword by José Antonio Ocampo, Columbia University, US The contributors expertly provide a comparative perspective on regional integration in different regions of the world while at the same time analysing the various facets of integration, relating to trade, FDI, finance and monetary policies. They provide a comprehensive treatment of the subject and offer new perspectives on the potential developmental effects of regional integration and the implications of regional integration for global economic governance. Whilst highlighting and illustrating the potential benefits deriving from regional economic integration, the book also stresses the problems and challenges regional integration processes are usually confronted with.

Education and the Requirements of GCC Labor Market

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Publisher : Emirates Center for Strategic Studies and Research
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4./5 ( download)

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Book Synopsis Education and the Requirements of GCC Labor Market by : The Emirates Center for Strategic Studies and Research

Download or read book Education and the Requirements of GCC Labor Market written by The Emirates Center for Strategic Studies and Research and published by Emirates Center for Strategic Studies and Research. This book was released on 2010-09-28 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The GCC countries today face a gap between educational output and labor market requirements. These countries enjoy substantial incomes and therefore spend generously on education, resulting in impressive levels of educational penetration among their populations within only a few decades, and have also achieved admirable levels of gender equality across the various stages of the education system. Yet returns on investment in education in the GCC countries are low. The proposed solution has been to re-create the experiences of other countries in developing their education systems and to encourage foreign universities and institutions to become established in the region—measures which have thus far proven inadequate in addressing the GCC’s educational deficiencies. To discuss the relationship between education and the labor market in the Arabian Gulf, the Emirates Center for Strategic Studies and Research (ECSSR) convened its 15th Annual Conference under the title Education and the Requirements of the GCC Labor Market on February 1–3, 2010 in Abu Dhabi, UAE, hosting a group of distinguished experts from various academic and professional backgrounds. This book comprises a collection of the papers presented at the conference, and as such provides a scholarly examination of the scale of the current dilemma; methods with which to monitor its indicators—such as population growth rates, the spread of education, foreign labor force concerns, and unemployment; variables of education–labor market dynamics in an international context; and case studies of the relationship between education and the labor market in selected GCC countries, including a review of the various related strategies and policies adopted by these countries—particularly those concerned with labor force nationalization and encouraging greater integration of citizens into the private sector.

Re-Evaluating Regional Organizations

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Publisher : Springer
ISBN 13 : 3319530550
Total Pages : 286 pages
Book Rating : 4.3/5 (195 download)

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Book Synopsis Re-Evaluating Regional Organizations by : Evgeny Vinokurov

Download or read book Re-Evaluating Regional Organizations written by Evgeny Vinokurov and published by Springer. This book was released on 2017-05-22 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book re-evaluates the regional organizations landscape and discusses how organizations with similar mandates can exercise strikingly different goals. Even economic organizations, which do not produce any outcomes in terms of economic cooperation, can be valuable for their members or individual stakeholders. The book’s argument is supported by a combination of quantitative and qualitative methods. It employs a novel dataset of 60 regional organizations to establish correlations between members’ goals and their characteristics. More than a dozen case studies in Latin America, Africa, Middle East, Southeast Asia, and post-Soviet Eurasia illustrate the theoretic arguments of how particular types of regional organizations come into existence and evolve. Finally, the book examines the remarkable resilience of regional organizations and considers the conditions under which the stakeholders are willing to abandon support.

Currency Union and Exchange Rate Issues

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 1849805377
Total Pages : 209 pages
Book Rating : 4.8/5 (498 download)

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Book Synopsis Currency Union and Exchange Rate Issues by : Ronald MacDonald

Download or read book Currency Union and Exchange Rate Issues written by Ronald MacDonald and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book written by leading academics and practitioners in the field brings together cutting edge research on exchange rate regime and monetary union issues. There is a particular focus on the implications for member states of the Gulf Cooperation Council (GCC) which is itself working towards forming a monetary union for the Gulf States. The relatively dramatic movements in the US dollar in the recent past, and also in the early 1990s, have called the practice of pegging to the US dollar into question for a group of countries that predominantly rely on hydrocarbons as their primary export. The book considers the key issues which must be addressed by the GCC in trying to form a monetary union for the Gulf countries and also the rigid pegging of member states currencies to the US dollar. The proposed monetary union raises clear issues in terms of the appropriateness of such a regime for these countries and whether, for example, the necessary institutional mechanisms are in place ahead of the proposed union. Currency Union and Exchange Rate Issues brings together the perspectives of a group of experts who focus on these important issues, and provide analysis of the policy options. Academics, policymakers and postgraduates in international finance will find much to consider and learn from in this informative book.