Common Currency Unit for Gulf Cooperation Council: Is It Feasible?

Abstract:

Starting from the work of John Stuart Mill in1894, more than a century ago, the debate on the creation of a common currency continued until the debut of Euro for the European economic zone in 1999.  Robert Mundell’s classic work (1961) gave the final push for Euro forty years later. Since the birth of Euro, and Gulf Cooperation Council (GCC) has become a nesting place for another common currency unit ever since 2005.  This work attempts to examine the feasibility of creating such a common currency unit for GCC (called as CCGCC) members.  The paper analyzes furthermore some misgivings that came into being in the existing literature in the intervening period.

Keywords:  

Gulf Cooperation Council (GCC); Common currency unit 

JEL Classifications:

F15, F31, O24, P43

Citation as:   

Zaher, A. A., D. Ghosh, and D. K. Ghosh(2019). "Common Currency Unit for Gulf Cooperation Council: Is It Feasible?", Review of Economics & Finance, vol.15, no.1, pp. 67-80.