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Current and future monetary cooperation with a focus on the possible monetary union of Gulf Cooperation Council

In: Proceedings of FIKUSZ '09

Author

Listed:
  • Magdaléna DRASTICHOVÁ

    (Faculty of Economics, VŠB-TU Ostrava)

Abstract

There is a lot of effort to create new monetary unions in the world. This paper focuses on the cooperation in the monetary field with a view to a possible monetary union of Gulf Cooperation Council. Some existing and proposed monetary unions are discussed in the paper. The focus is especially on the proposed monetary union among states of Gulf Cooperation Council (GCC). In the context of the emerging monetary union, countries of GCC are facing many challenges. The paper presents attempts of GCC countries to cooperate in the monetary field, barriers, benefits of the single currency and a couple of criteria by which can be assessed, whether a monetary union is the right step for this area. Some criteria of the Optimum Currency Area theory are applied to these countries here as well.

Suggested Citation

  • Magdaléna DRASTICHOVÁ, 2009. "Current and future monetary cooperation with a focus on the possible monetary union of Gulf Cooperation Council," Proceedings of FIKUSZ '09, in: László Áron Kóczy (ed.),Proceedings of FIKUSZ '09, pages 57-69, Óbuda University, Keleti Faculty of Business and Management.
    • Handle: RePEc:pkk:sfyr09:57-69
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    References listed on IDEAS

    as
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    5. ,, 2009. "Economics of Monetary Union," OUP Catalogue, Oxford University Press, edition 8, number 9780199563234.
    6. Charles Wyplosz, 2001. "A Monetary Union in Asia? Some European Lessons," RBA Annual Conference Volume (Discontinued), in: David Gruen & John Simon (ed.),Future Directions for Monetary Policies in East Asia, Reserve Bank of Australia.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    monetary union; Gulf Cooperation Council; Optimum Currency Area theory; single currency;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration

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