GCC economic integration : statistical harmonization for an effective monetary union

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dc.contributor.authorGurrib, Ikhlaas
dc.date.accessioned2020-02-23T11:26:01Z
dc.date.available2020-02-23T11:26:01Z
dc.date.copyright2012
dc.date.issued2012
dc.descriptionThis book chapter is not available at CUD collection. The version of scholarly record of this book chapter is published in The GCC Economies: Stepping up to Future Challenges (2012), available online at: https://link.springer.com/chapter/10.1007%2F978-1-4614-1611-1_3.en_US
dc.description.abstractThe 1970 Werner Report on economic and monetary union in the European community states a monetary union implies inside its boundaries the total and irreversible convertibility of currencies, the elimination of margins of fluctuation in exchange rates, the irrevocable fixing of parity rates and the complete liberation of movements of capital (The Werner Report of 1970). Alternatively stated, three aspects should characterize a monetary union or a currency union. These are (1) a single currency or several currencies that are fully convertible at an irrevocably fixed exchange rate, (2) union-wide monetary policy that is determined by a single central bank or a system of central banks, and (3) a sole external exchange rate policy (Masson and Pattillo 2001). This chapter follows the line of thought that uses the single currency and a monetary union interchangeably, given that exchange rates are irrevocably fixed. © Springer Science+Business Media New York 2012. All rights are reserved.en_US
dc.identifier.citationGurrib, I. (2012). GCC economic integration: Statistical harmonization for an effective monetary union. In M.A. Ramady (eds), The GCC Economies: Stepping up to Future Challenges (pp. 21-32). New York, NY : Springer. https://doi.org/10.1007/978-1-4614-1611-1_3en_US
dc.identifier.isbn9781461416104
dc.identifier.urihttp://dx.doi.org/10.1007/978-1-4614-1611-1_3
dc.identifier.urihttp://hdl.handle.net/20.500.12519/149
dc.language.isoenen_US
dc.publisherSpringer New Yorken_US
dc.relationAuthor Affiliation: Gurrib, I., Finance and Economics, School of Business, Canadian University of Dubai, Sheikh Zayed Road (Behind Shangrila Hotel), Dubai, United Arab Emirates
dc.relation.ispartofseriesThe GCC Economies: Stepping up to Future Challenges;
dc.rightsPermission to reuse the abstract has been secured from Springer New York.
dc.rights.holderCopyright : 2012 Springer Science+Business Media New York. All rights are reserved.
dc.subjectExchange Rate
dc.subjectMonetary Policy
dc.subjectReal Exchange Rate
dc.subjectMonetary Union
dc.subjectImpulse Response Function
dc.titleGCC economic integration : statistical harmonization for an effective monetary unionen_US
dc.typeBook chapteren_US

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