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Perspectives on the GCC Monetary Union

Author

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  • Bassim Shebeb

Abstract

The Gulf Cooperation Council (GCC) countries in 2001 proposed to establish the Gulf Monetary Union (GMU) by 2010. As we know it did not happen; however, negotiations have never been stopped and they plan to establish it in the near future. In the meantime authors have been busy in analyzing the feasibility (viability) of the GMU. This is a review article about the proposed GMU. It starts with the review of basic premise of the convergence criteria. It also reviews the studies on business cycle and shocks synchronization of the GCC countries. Researchers (based on their empirical evidence) differ in their opinions whether the GCC countries are yet to form the GMU.

Suggested Citation

  • Bassim Shebeb, 2016. "Perspectives on the GCC Monetary Union," Applied Economics and Finance, Redfame publishing, vol. 3(1), pages 54-63, February.
    • Handle: RePEc:rfa:aefjnl:v:3:y:2016:i:1:p:54-63
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    Citations

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    Cited by:

    1. Ashraf Nakibullah, 2017. "State of Shocks Synchronization among Members of the GCC," Research in World Economy, Research in World Economy, Sciedu Press, vol. 8(1), pages 15-23, June.

    More about this item

    Keywords

    business cycle; convergence; GMU; shock synchronization; SVAR;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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