IDEAS home Printed from
MyIDEAS: Login to save this paper or follow this series

Readiness Of The Gulf Monetary Union: Revisited

  • Rock-Antoine Mehanna


    (Notre Dame University)

  • M. Kabir Hassan

This paper revisits Mehanna’s (2004) assessment of the viability of the future project of the Gulf Monetary Union (a goal set for 2010) while examining member countries over three time periods: (1) 1990-1999; (2) 2000-2006; and (3) average period 1990-2006. It follows the theory of Optimum Currency Areas and borrows from the European Monetary Union (the Maastricht Agreement’s convergence criteria) for theoretical and comparison purposes. This study examines nine indicators for the six members of the Gulf Cooperation Council (GCC). These indicators cover economic integration, trade openness, monetary policy, economic development, fiscal, and military policies. New findings reveal that GCC countries have achieved more convergence in terms of indicators under study mainly due to the petro-dollar era. However, econometric results suggest that GCC countries are still out of phase and not harmonized in terms of trade, monetary policy and economic development. Relevant policy implications are discussed.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

File URL:
Download Restriction: no

Paper provided by Economic Research Forum in its series Working Papers with number 441.

in new window

Length: 15 pages
Date of creation: Oct 2008
Date of revision: Oct 2008
Publication status: Published by The Economic Research Forum (ERF)
Handle: RePEc:erg:wpaper:441
Contact details of provider: Postal: 7 Boulos Hanna Street, Dokki, Cairo
Phone: 202-3370810
Fax: 202-3616042
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:erg:wpaper:441. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Namees Nabeel)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.