01752cas a2200241 a 4500 AALejournalIMF002194 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451969481 1934-7456 BD-DhAAL BD-DhAAL Jadresic, Esteban. On a Common Currency for the GCC Countries / Esteban Jadresic. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (27 pages) IMF Policy Discussion Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper assesses the eventual replacement of the currencies of the GCC countries with a common currency. It concludes that a properly implemented currency union may contribute to enhance economic efficiency in the region, deepen regional integration, and develop its non-oil economy. However, it cautions that a currency union should be seen as only one component of a much broader integration effort. This should include the removal of the distortions that inhibit intraregional trade and investment, agreements on policy frameworks to ensure macroeconomic stability, and further political integration. The paper also addresses the choice of exchange rate arrangement for the unified currency. Mode of access: Internet IMF Policy Discussion Papers; Policy Discussion Paper ; No. 2002/012 Full text available on IMF http://elibrary.imf.org/view/journals/003/2002/012/003.2002.issue-012-en.xml IMF e-Library