Providing Official Statistics For The Common Market And Monetary Union In The Gulf Cooperation Council Gcc Countries PDF Download
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Author | : Abdulrahman K. L. Al-Mansouri |
Publisher | : International Monetary Fund |
Total Pages | : 33 |
Release | : 2006-02-01 |
Genre | : Business & Economics |
ISBN | : 1451862989 |
Download Providing official Statistics for the Common Market and Monetary Union in the Gulf Cooperation Council (GCC) Countries Book in PDF, ePub and Kindle
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.
Author | : Al-Mansouri |
Publisher | : |
Total Pages | : |
Release | : 2006 |
Genre | : Electronic books |
ISBN | : |
Download IMF Working Papers Book in PDF, ePub and Kindle
Author | : Russell C. Krueger |
Publisher | : International Monetary Fund |
Total Pages | : 28 |
Release | : 2006-06 |
Genre | : Business & Economics |
ISBN | : |
Download Some Principles for Development of Statistics for a Gulf Cooperation Council Currency Union Book in PDF, ePub and Kindle
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.
Author | : Mr.Tim Callen |
Publisher | : International Monetary Fund |
Total Pages | : 32 |
Release | : 2014-12-23 |
Genre | : Business & Economics |
ISBN | : 1498303234 |
Download Economic Diversification in the GCC Book in PDF, ePub and Kindle
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.
Author | : Mr.Ugo Fasano-Filho |
Publisher | : International Monetary Fund |
Total Pages | : 80 |
Release | : 2003-08-29 |
Genre | : Business & Economics |
ISBN | : 9781589062191 |
Download Monetary Union Among Member Countries of the Gulf Cooperation Council Book in PDF, ePub and Kindle
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.
Author | : Emilie Rutledge |
Publisher | : Emirates Center for Strategic Studies and Research |
Total Pages | : 12 |
Release | : 2009-08-20 |
Genre | : Antiques & Collectibles |
ISBN | : 9948140974 |
Download GCC Monetary Union Book in PDF, ePub and Kindle
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.
Author | : Emilie Rutledge |
Publisher | : Routledge |
Total Pages | : 160 |
Release | : 2008-07-30 |
Genre | : Business & Economics |
ISBN | : 1134046316 |
Download Monetary Union in the Gulf Book in PDF, ePub and Kindle
This book examines the proposed currency union of the Gulf Co-operation Council (GCC) Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates which is due to come into effect in 2010.
Author | : Ulrich Volz |
Publisher | : MIT Press |
Total Pages | : 339 |
Release | : 2010 |
Genre | : East Asia |
ISBN | : 0262013991 |
Download Prospects for Monetary Cooperation and Integration in East Asia Book in PDF, ePub and Kindle
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. --
Author | : Linda Low |
Publisher | : Institute of Southeast Asian Studies |
Total Pages | : 71 |
Release | : 2011 |
Genre | : Business & Economics |
ISBN | : 9814311405 |
Download The Gulf Cooperation Council Book in PDF, ePub and Kindle
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.
Author | : |
Publisher | : Oxford Business Group |
Total Pages | : 220 |
Release | : 2008 |
Genre | : Dubai (United Arab Emirates) |
ISBN | : 1902339053 |
Download The Report: Dubai 2008 Book in PDF, ePub and Kindle