02073cas a2200265 a 4500 AALejournalIMF008650 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451857122 1018-5941 BD-DhAAL BD-DhAAL Elekdag, Selim. What Are the Potential Economic Benefits of Enlarging the Gulf Cooperation Council? / Selim Elekdag, Saade Chami, Ivan Tchakarov. Washington, D.C. : International Monetary Fund, 2004. 1 online resource (33 pages) IMF Working 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 uses a variant of the IMF's Global Economy Model (GEM) to estimate the macroeconomic effects of Yemen's full accession into the Gulf Cooperation Council (GCC). After calibrating the model to Yemen and the GCC countries, several simulations were carried out to estimate the potential impact of economic integration on both. The paper draws two fundamental conclusions. First, further steps in regional integration would enhance competition and produce large economic benefits for both Yemen and the GCC countries. In particular, we show that in some cases economic integration could increase GDP in Yemen by as much as 18 percent and in the GCC by as much as 20 percent over the long run. Second, even if market structures do not improve substantially, GCC enlargement can still generate substantial spillover gains with consumption increasing by up to 7 percent in Yemen and 8 percent in the GCC, respectively. Mode of access: Internet Chami, Saade. Tchakarov, Ivan. IMF Working Papers; Working Paper ; No. 2004/152 Full text available on IMF http://elibrary.imf.org/view/journals/001/2004/152/001.2004.issue-152-en.xml IMF e-Library