ESCWA Publication: E/ESCWA/EAD/2005/10
Country: Arab region, ESCWA Member States
Publication Type: Reports & studies
Cluster: Shared Economic Prosperity
Focus Area: Financing for development, Governance & enabling environment, Macroeconomics
Initiatives: Financial & macroeconomic statistics for National accounts
SDGs: Goal 11: Sustainable Cities and Communities, Goal 17: Partnerships for the Goals
Keywords: Arab countries, Economic development, Macroeconomics, Regional cooperation, Business cycles, Macroeconomics, Intraregional trade, Interest rates, Inflation, Policy making, Exports, Foreign policy, Foreign trade, Imports
Macroeconomic Policy Analysis for Regional Coordination in the ESCWA Region: Business Cycle Synchronization and Macroeconomic Policy Coordination
January 2005
The increasing trend towards regional and international globalization is presenting the ESCWA region with several monetary and fiscal challenges. Given the low level of economic integration within the ESCWA region, this study examines the case for increased policy coordination and, ultimately, the adoption of a common single currency. To achieve this objective, this report assesses the relationship between trade intensity, economic structure and the degree of business cycle synchronization in the ESCWA region. The study concludes that the time for adopting a common currency for the ESCWA region has not yet arrived.
Related content
Financing for development
, Governance & enabling environment
, Macroeconomics
,
The increasing trend towards regional and international globalization is presenting the ESCWA region with several monetary and fiscal challenges. Given the low level of economic integration within the ESCWA region, this study examines the case for increased policy coordination and, ultimately, the adoption of a common single currency. To achieve this objective, this report assesses the relationship between trade intensity, economic structure and the degree of business cycle synchronization in the ESCWA region. The study concludes that the time for adopting a common currency for the ESCWA region has not yet arrived.