An Assessment into the Importance of Economic Integration for Developed Economies (2013)

Universal integration and the shrinking of the borders across different regions and economies, many regions were under pressure to integrate their local economies in order to gain economic and financial advantages. Countries in the gulf were not left out of this; therefore, the Gulf Cooperation Council (GCC) was came into being during 1981 as an effort to pave way for the integration of those economies. T

he Gulf Cooperation Council (GCC) is a political and economic alliance which is comprised of 6 states from the gulf region namely UAE, Kingdom of Saudi Arabia, UAE, Kuwait, Oman, Bahrain, and Qatar. The GCC was formed in the city of Riyadh in Saudi Arabia with the aim of boosting economic co-operation between members and collective security to guard against any threat from neighbouring states. This dissertation therefore intends to review the implications of adopting single a currency to the gulf countries.

Threats, opportunities, costs and benefits of economic integration are intended to be looked into. On the other hand, the crisis affecting Euro zone shall also be reviewed where the causes and consequences of the crisis shall be looked at and devise measures on the lessons to be learnt by the gulf countries on how they can prevent the occurrence of such crisis in the region. A unified monetary approach is the study objective and the research aims have been to determine the implications of adopting single currency in the gulf. The specific objectives of the study are;

  • To evaluate the extent and the potential implications of a single currency to the Gulf countries
  • Explore and report the potential economic benefits or obstacles of developing a single currency
  • Analyse and compare lessons to be learnt from the Euro zone
  • 15,000 words – 58 pages in length
  • Excellent use of literature
  • Good analysis of subject area
  • Well written throughout
  • Ideal for economics students

1: Introduction
Study Background
Study Aims and Objectives
Research Questions

2: Literature Review
Traditional Benefits of Economic Integration
Political Costs of Adopting A Single Currency
Common Currency Area for the Gulf Region
Political Will, Commitment and Long-Term Strategic Gains
Beyond the Boundaries of Traditional OCA Theory
Possible Gains of Monetary Policy
Possible Disadvantages of Monetary Union
Lessons from the Euro Zone

3: Research Methodology
Sources of Data Collection
Secondary Source of Data
Primary Data
SWOT Analysis
PEST Analysis
Justification for the Choice of Research Method
Resources Needed To Access Secondary Data
Diversified Financial System
Factor Mobility
Policies Incorporation
Other factors

4: Discussion of Data
Euro Zone and its Effects on GCC
An Assessment of the GCC Readiness For A Currency Union
Important Economic Indicators for the GCC
Trade Integration
GCC’s Composition Of Trade Inflow In International Trade
Degree of Opening up of the GCC Economy
Other Vital Economic Indicators for the GCC
GDP Annual Growth Rate
Consumer Price Index (CPI Inflation Annual %)
Exchange Rate (US$)
The Level of Movement of Labour and Capital within the Region
The Level of Strategic Incorporation
Other Factors to Consider

5: Conclusions and Recommendation
Re-Statement of Research Aim and Objectives


Economic Integration for Developed Economies Dissertation
Economic Integration for Developed Economies Dissertation

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