Gulf common currency
E340444
The Gulf common currency is a proposed unified monetary unit intended to be shared by member states of the Gulf Cooperation Council to promote economic integration and stability in the region.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Gulf common currency canonical | 1 |
Statements (41)
| Predicate | Object |
|---|---|
| instanceOf |
monetary integration project
ⓘ
proposed currency union ⓘ |
| academicInterest | studied as example of prospective currency union in developing regions ⓘ |
| associatedOrganization |
GCC Monetary Council
ⓘ
GCC Supreme Council ⓘ |
| basedOn |
GCC monetary union
ⓘ
surface form:
GCC Monetary Union project
|
| currencyAreaType | proposed regional currency area ⓘ |
| debatedIssue |
degree of monetary policy coordination
ⓘ
exchange rate regime ⓘ fiscal convergence criteria ⓘ location of common central bank ⓘ sovereignty concerns of member states ⓘ |
| discussedSince | early 2000s ⓘ |
| discussionForum | GCC economic and financial committees ⓘ |
| goal |
economic integration
ⓘ
enhanced financial cooperation ⓘ facilitation of intra-GCC trade ⓘ macroeconomic stability ⓘ monetary stability ⓘ |
| implementationRequirement |
creation of full GCC monetary union
ⓘ
ratification by GCC member states ⓘ |
| influencedBy |
European Union economic and monetary union
ⓘ
surface form:
European Economic and Monetary Union
|
| intendedFor | GCC member states ⓘ |
| legalStatus | not legally established ⓘ |
| monetaryPolicyFramework | planned common central banking structure ⓘ |
| motivation |
increase regional investment flows
ⓘ
reduce exchange rate risk within GCC ⓘ strengthen GCC bargaining power in global economy ⓘ |
| potentialBenefit |
deeper financial market integration
ⓘ
lower transaction costs for cross-border trade ⓘ price transparency across GCC markets ⓘ |
| potentialRisk |
asymmetric economic shocks among members
ⓘ
loss of independent monetary policy for members ⓘ need for fiscal transfers between member states ⓘ |
| proposedBy | Gulf Cooperation Council ⓘ |
| publicPerception | subject of economic and political debate in GCC ⓘ |
| region | Persian Gulf ⓘ |
| relatedTo |
GCC Common Market
ⓘ
surface form:
GCC common market
GCC Customs Union ⓘ
surface form:
GCC customs union
|
| status |
not yet implemented
ⓘ
under discussion ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.