مجلس التعاون الخليجي PDF

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20
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21
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22
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23
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24
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25
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@ @@bnbi@@b@@ Lxbna@a@@n@a@a@y@@bc@ Integration)

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27
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N43@Lib@u@Zia@bg - 2
28
@ @Zbna@pbbna@i@bvna
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M@ 05
@pbba@ m@ b@ b@ @ bna@ a@ i@ pba@ a@ bna@ y@ nm

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N43@@Lib@u@Zia@bg - 2
29
@ana@vy@ g@bi@i@ana@n@@ r@a@b@@bvna@ c@@Lbna@aa@a

@c@ a@ @ c@ u@ @ Nbna@ @ jaa@ @ bnua@ a@ bra@ a@ ibni
@@ bna@@ sa@ ba@ky@ Lbna@@na@a@r@iba@a
@a@ @ bi@ na@@ Ln@bc@@ m@ Lbna@ na@n@@n@a@
@ja@ bm@ a@ panbi@ sa@ ba@ a@ jma@ @ Nbbna@ bm@ m@ c@ pbbra
@1 a@ a@ @ @ bna@ a@ i@ una@ na@ r@ a@ bna
a a i@ a i i bvna m pb n b@ nm@ a
@n@@bna@lb@@@pc@@ N2 ja bi i c j ny c bvn
@sa@a@@aa@ba@c@@b@ L ba@m@g@bau@i@@@@ja@ba
@c@ @ @ aa@ a@ @ @ Nbna@ paba@ @ m@ bc@ bb@ r@ @ |jc
Nbn@ra@a@na@a@i@na@ibna@kau
- Alen Winters, "Regionalism Versus Multilateralism", Working Paper N: 1687, International Trade
Division , International Economics Department, The World Bank, Washington D.C, 1996, pp:2-3.
a nm a a pbjma m m @ yna a a a a b - 2
paa zna u c bLnna i bvna zni ba a b nm a @Lba@ a paa
@ @Za@pba@@@Nba a i ban r m m c bi o ba@ a
- J.Frank and Shang-Jin Wei, "Open Regionalism in a world of Continental Trade Blocs", IMF Working
Paper WP/98/10, Geneva, 1998,p:08
30
@ @01M@ 02@Z@u
@ @bna@bn@ra@a@na@a@i@na@b@c
@ @sa@wa
@ @na@wa
@ @bm@ra@a@@ba@c@
@ @@Lba@c@m@
@ @Nbm@a@a@g@
@ @a@a@y@@n@a@@bc
@ @bvn@rc@c@g@i@bna@bg
@ @ibna@a@@g
@ @aa@ba
@ @bna@pbna@lbm@bvna
@ @a@ba
@ @@Lbna@na@@na@bg
@ @N@@pbbna@ui
@ @pbbra@@ana@@
@ @bnua@a@c@
@a@a@b@pbnm@y@b@ b
@ @bmb@na@a@b@nm
@ @paba@m@@a@@pba@a
@ @@pba@kb@bna
@ @@bnua@a@pbbra@@ana
@@cjm@m@pbbma@@d
@ @a@ba@q@a@bvna
@ @@Lba@pbvna@@bbc@
@ @a@na@@paaa@@yg@i
@@a@pby@m@@Lbm@n
@ @ba
@ @xbna@b@
@bnua@ba
@ @bra
@ @bvna@
@ @bvna@b
@pbba@m
@ @bna@a@@@a
@ @bnbi@ba@@b@ a
@ @bna
@ @a@pba@ba@b@ @
@ @a@pba@ @
@ @bna@um
@ @N35@L1996@L02@@La@na@@L"na@a@La@ia@bna@a@"@Zba@@@Za@@@@
@pbvna@ ozjc@ @ a@ bna@ ja@ bm@ na@ a@ pzn@ a

@@ La@ bna@ pbbi@ m@ ozjc@ bg@ Lbja@ a@ @ knm@ @ bna
@Lna@ya@@n@ pbn@pa@@i@@ bna@ pnm@m@@bc@una@bm
@a@ @ i@ bn@ ra@ bi@ ana@ c@ ui@ dm@ ozjc@ pbbna@ c@ @ b
@ @@Nna
@ @Zbna@bna@bqc@a@Ziaa@ka
@g@ m@a@aa@@a@b@ c@a@@bna@a@ ai@bna@b g@
@c@b@Lbna@a@g@b@a@ @aa@m@ n@@La@i@bna@bna@u
@ @Z@b@bg@na@@@bna@@@dm@a@ja@iba@bqa@@a@b
31
@ @@Zbna@bna@aM@ 01
@a@ Lbna@ @ @ b@ @ a@ km@ a@ ba@ baa@ m@ bna@ ai@
@bna@ lb@ @ a@ b@ c@ @ aa@ @ Lya@ @ j@ b@ @ ob@ b@ b
@ai@b@ja@ c@ny@Lpnna@m@g@ba@@pbbna@@a@v@@ Lbna
@jma@pbana@vy@b@g@c@b@pnna@@a@@bmb@oam@@@ba@
@a@i@pb@am@a@aa@ob@@Ln@bm@pbn@@a@@@nm@i
@n@brna@bvna@ia@m@Lba@aa@g@ba@b@i@bna@pnna@i
@a@pbjma@vy@@aa@a@@@@ N1 nna@@a@ba@@ bna
@ @N ba@ky@a@bg@nm
@ @01M@ 03 Z@u
@ @ba@@a@pbjma
@a@a
pbjma@@n
@km@nm@
@ @@a
@ @@@pbjma@
@ @@@
@ @a@@ya
@ @07
@ @02
@ @26
@ @bja@bc@
@ @12
@ @06
@ @26
@ @bc@@bic
@ @29
@ @08
@ @35
@ @ba@ma@bc
@ @13
@ @05
@ @20
@ @bg@b@a@a
@ @09
@ @04
@ @08
@ @bc@lu
@ @09
@ @04
@ @48
@ @aza@lu@bg
@ @29
@ @11
@ @11
@ @ba@
@ @Source: World Bank, Global Economic Prospects, Washington, 2005, p.24
@ @
@g@ja@pbjma@@a@@a@g@oum@@a@c@@iba@a@@
@ka@c@b@Lba@pnna@yg@g@nm@a@kb@Lbc@i@bna@ai@a@c
- Panl Krugman, "The More Toward Free Trade Zones", Policy implication of trade and currency zones,
Studies of Federal Bank of Kamas City, 1991, pp:6-5.
32
@a@a@c@g@na@@Lba@bc@n@@@i@aa@@i@nm@pnna@m
@ @@Z1 @b@bna@bna@pb@g@ba@
@ @@Za@vy@bma@a
M@ 01M@ 01
@@sy@Lbna@bna@zn@b@ba@ pba@a@n@a@@u@r
@bna@@Lna@b@pbvna@m@n@ja@xbna@vy@ba@@nm@ c@
@@bj @pbba@m@@b@@m@Lja@va@pa@pbba@@@bg@@bm
@a@@na@ u@ @b@pa@pa@ j@pb@b@ g@ @b@ La@pbba@pbvn
@g@ @ b@ Lna@ a@ m@ @ wmb@ ubna@ @ zna@ g@ s@ a@ @ Nubna
@@ba@znm@ ubna@n@@ba@ty@@Lxbna@ bm@@ba@@ zna
@y@ @ c@ HG.Stwart.MilI@ @ pan@ u@ bc@ @ iba@ N a@ a@ wmba@ vy
A. I@bb@a@@b@Lubna@b@bnbi@La@vy@bma@g@@xbna@b@a
@va@ @ bb@ Lbna@ a@ @ a@ vy@ i@ q@ bjma@ @ b@ c@ HMarshall

@Nbn@a@bna@@ @ a@b@b@km@pa@@@@ xbn@a
@@ Lyaa@ ya@ m@ @ g@ @ b@ Lxbna@ vy@ b@ @ @ a@ vy@ bmb
@@@b@ba@m@bnbi@Lbubng@@a@paya@@@c@@n@nibra@bna
@@ vmag@ r@ |jc@ bna@ bna@ c@ @ kja@ a@ @ Nba@ @ a@
@bna@pnna@ya@g@ba@@i@b@a@kc@c@ @ s@Lpba@ a@@
N2 ba
@ @Zna@a
M@ 02M@ 01
@ba@u@c@sy@Lna@a@@m@@bna@a@@aa@a@@bm
@na@ba@ lbna@@Lba@@ a@@ g@bni@|@b@@@ba@
@n@bnbi@La@@ka@ jm@@na@g@ @ bnb@Lubna@@bg@b@bc
- Lawrence Summers, "Regionalism and The World Trading System", Policy implication of trade and
currency zones, Studies of Federal Bank of Kamas City, 1991, pp:295-302
2
- Laucian Cernat, "Assessing Regional Trade Arrangements: Are South-South RTAs More Trade
Diverting", Study series No: 16, Division on International Trade in Good and Services, UNCTAD, New
York, 2001, p:03.
33
@m@g@@@kja@u@Nba@@ky@ba@ a@@@n@c@ pbbg@m

Nbna@a@@ua@bna@a@m
@ @Zbna@a@@b
M@ 03M@ 01
@ba@ pbb@ ra@ na@ @ g@ bna@ a@ @ bna@ paya@ m

@@ a@@@ @ La@vy@ bma@g@@b@ Nba@@ ybna@ja@a
@Lbna@a@@yg@@ c@vna@a@@ua@ L@ ra@xbna@b@aa@na
@na@ paa@ na@ kbu@ g@ Lba@ aa@ @ na@ @ @ c@ n@ i
@p@ @ g@ @ bnbi@ L@ ba@ wmba@ @ b@ @ g@ @ b@ Laa
@ @Nbna@a@@m
@ @Zba@ba@m@Lpaba@m@a
M@ 04M@ 01
@bb@b@ L@@ g@bmab@n@ @ b@i@ @bna@bna@

@g@bc@bna@bna@@b@ Na@ ba@@ana@@ a@pbjna@ua@
@ba@ m@ ubna@ ba@ @ @ @ wn@ b@ La@ na@ @ ba@
@@@L@um@b@bg@@bn@c@pa@|n@bna@bnb@Luna
@|jc@iNa@@y@@pbna@m@@pb@@bna@a@pabrna@lbna
@@ba@a@@ba@aa@c@@buna@@a@jua@pabrna@lbna
@ @@N1 bna@a@@a
Za@na@@bna@a@m@ba@m@a
M@ 05M@ 01
@nn@b@ba@ Lba@a@@b@ba@pbba@ a@bna@ba@m

@bna@xb@@a@pbbna@@pb@@bna@c@g@bi@Lbna
@@b@pb@m@@a@m@b@@@b@Lxbna@pbm@una@paa@
@b@ vn@ ba@ na@ zni@ b@ |m@ Laa@ @ j@ @ pba@ n@ @ b@ Lba
@bba@ b@ bna@ v@ bna@ a@ m@ @ bna@ bna@ b@ b@ Npaaa
149 Lib@u@Z y - 1
34
@na@ pbbg@ @ @ i@ @ La@ pba@ @ c@ a@ a@ @ a@ Lbvna

@ @@Nya@@@ana
Zbna@bna@bqe M@ 02
@m@ @ @ i@ na@ @ @ bna@ bna@ wbn@ bqc@ bna@ pbaa@ obm
@ @@Z1 @b@bg@na@@a@@a@@c@ba@bqa@ba@bqa@um@sy@Lbqa
Zba@bqa M@ 01M@ 02
@a@@@nm@a@@a@ Lbvna@a@n@ ni@bna@bna@ n
@paaug@ c@ |aa@ @ Lba@ a@ @ @ qa@ a@ h@ bna@ a@ xb@ @ paaa@
@xbna@ pbb@ n@ pbba@ @ bm@ @ ba@ pbbna@ |@ bna@ bna
@lby@ @ ba@ a@ i@ paba@ paaa@ b@ @ b@ r@ a@ bb@ Nbvna
@a@a@bg@kji@ana@bm@@@@@g@bg@La@xb@@paaa
@c@ b@Lba@@a@@bvna@lby@@ ba@a@i@bvna@b@ g@@b@ Lja
@a@b@ba@bqa@a@@ Lba@@ g@@a@ a@p@ qdm
@ @Z2 @b@bg@na@n@qc@@@ba@a@a
@Z@bvna@@qc M@ 01M@ 01M@ 02

@c@paai@a@ba@@@@@a@xbna@i@ajna@@bvna@@
@m@ ra@ b@ a@ a@ xbng@ m@ g@ @ b@ Lba@ @ @ @ c@ @ @ m
@n@@@g@ba@@a@bvna@@@sy@Lm@a@b@a@bi@bajna
@b@@@@km@b@Lpaaa@bc@ba@@bb@@a@na@@bna@ba
@j@@@@@ana@n@@ xbna@@a@Nba@n@@@ na@a@
@b@i@qdnm@@bna@bna@bma@@ba@@a@pab@b@Lbna@bna@b
@ @Nbna@
@ @
389@@Lib@u@Za@ic@bna@j@@M@1
N576@Lib@u@Ze@@u@@M@2
35
@Zbvna@@qc M@ 02M@ 01M@ 02

@@@@bna@ba@@@@@la@@a@kba@bvna@@r
@n@ sy@ Lbna@ kaa@ @ ba@ b@ i@ bvna@ @ t@ Lbna@ bna
@La@ bbi@@@@m@c@paai@a@ba@xb@@m@c@ paa@ajna
@L1 a@@a@@a@pbj@@a@a@ znm@sy@bvna@ bc@@m@ g@@b
@a@ @ vn@ g@ znm@ a@ bmbj@ m@ a@ @ a@ c@ bna@ ja@ @
@ba@ @ g@ @ b@ @ La@ a@ @ a@ a@ m@ xbng@ @ b@ ui@ ny@ Lba
@qc@b@k@ a@ba@ bg@@ba@ba@ bqc@b@@uc@@Nba@bna
@b@g@@@bvna@@qc@u@@a@ba@bh@Lbvna@@qdi@bvna@
@@qc@ @b@oqy@ag@ c@u@@Lba@ n@ ba@ g@@b@na@ja@@bna
@ag@ Nana@bm@b@a@ bna@ba@ n@ @ b@b@na@ja@y@bvna
@Lbna@b@n@ba@ c@b@Lbvna@y@bbi@@c@@a@ ba@g@b
@n@ @ja@ bqa@m@ La@bvn@na@ qa@@bbn@j@ bvna@@@b
@pbjmm@ @ bi@ @ Lba@ @ na@ a@ ba@ j@ vn@ bna@ ba
@L@@@@bna@@paa@ ajna@ g@m@@a@pbjmb@La@ba
@ @@Nbvna@@qc@@g@@b@Lba@@@@@bna@m@paa@b
@@ bg@@sy@ La@ba@ bqc@b@@qm@ @a@aa@@a@b
@@a@i@ny@ ba@xb@@@m@a@ wna@ana@@a@a@pna@ ag@bvna
@a@ ag@ bn@@b@m@ a@wna@@ bnya@ c@|aa@@ Na@ba@bma
@@ a@ ob@ ag@ bvna@ @ qc@ k@ a@ @ La@ ba@ @ ba@ a@
@y@g@@ba@a@ @@a@a@na@ob@Lba@@@@bna
@qc@u@a@Na@a@@@c@i@a@m@bna@a@ba@@a@
@@a@aa@@a@b@h@a@ba@bma@@@bvna@@qc@bvna@
@ @@Zg@ua@@a@bvna@@a@brna@xbna@bvna@aa@bqc@@a@@n@M@ 1
30@Lib@u@Z@y@M@
36
@na@@na@ba@ a@ @ xbna@m@i@a@r@ Nba@@ q@ba@va

@ @Nba@@bna@ba@n@@@b@b@La@ba@@a
Z@a@bqa M@ 02M@ 02
@@ @ g@ La@ bi@ na@ ba@ bqa@a@ ba@ @ wmba@ qa@ n
@bqbi@ m@ a@ La@ @ bna@ a@ @ bc@ pam@ tayhi@ na@ a@ bqa
@dvm@ ba@a@i@bvna@aa@n@ba@@Na@b@a@c@ ba
@pba@ bc@ Nuna@na@ bg@ba@ xbna@bm@@g@ a@a@ pba
@a@pbna@ aa@na@zni@n@a@bna@ja@@na@@ nm@@a
@@Lb@rc@i@@bna@a@ra@ana@@b@Lubng@rc@pbb@g@b
@ @Nbna@ba@n@@@b
@b@ Lba@a@ba@pba@ bc@a@vy@bma@ g@a@ba@bg@ @b
@pa@nm@L1 va@pai@@b@b@@pba@m@@ba@ubna@n@@
@@pba@@ @a@ aa@@@a@Lbna@bna@b@a@ba@ c@@va
@kbu@ g@ xbna@vy@b@@pba@m@@bna@b@ Lpbvna@@j@pb@ xbng
@a@ @ ja@ ab@ Lbna@ va@ pa@ @ ba@ bna@ ba@ @ bna
@@ @ bbi@ jmm@ ubna@ ba@ @ ba@ c@ b@ Nxbna@ vy@m@ @ pb@ la
@@brn@ c@c@ bc@ pba@n@@ b@@ LHr@ xbna@bm@b@vnI@ bia
@@b@Ljna@@bia@zni@pbna@b@g@bc@a@vy@@@@Lbca@a
@pba@ n@ @ m@ @ ba@ @ a@ @ pba@ c@ b@ Lbrna@ ba@ n@
@@b@ Lna@ba@ bc@aa@kvn@ba@@@ b@ @b@bhi@brna
@@b@pana@@qc@@Lba@ @bna@ba@@ ubna@ba@b@ g
@bh@Lbna@bn@a@bqa@c@pba@ aa@i@ba@b@ r@b@Na@a
@b@j@u@ob@a@bnya@pb@ n@@ g@m@bm@i@@ bvna@a
@m@ny@Nba@a@ pb@ aa@bna@ ba@b@ g@m@b@ Lbna@a
Nwmba@a@n@m@b@wmba@y@m@bbi@va@p@a@m@@M@1
37
@@brna@Lxbna@bm@@m@c@i@a@a@@bna@b@i@pba@m
@a@ di@ bna@ @ a@ n@ Na@ pb@ ubna@ ba@ m@ una@ kba
@c@ ba@ bqa@ n@vn@bg@ La@i@ bvna@@pb@vn@ mdm@@a@ba
@ @Na@a@@a
Zbna@bna@b@ba@Zba@ka
@i@ kbu@g@a@Lbna@ba@ baa@ @a@@bna@bna@c@a@
Nbna@a@ac@@m@@a@a@@ba
@ @Zbna@bna@ba
M@ 01
@m@@ Lpba@n@@ ba@@baa@@a@ bna@bna@

@ @Z1 aa@ba@@baa@m@i
@ @Zxbna@b@bna@y M@ 01M@ 01
@a@@i@znm@c@xbna@b@@a@@@i@bna@bna@b@
@@b@La@pbvna@@@bna@@xbna@ni@|@b@Lbna@a
@pa@a@g@ba@ba@pa@a@@aa@@bnb@Naa@xbna@b@na@j@
@bbi@ La@ ua@ @ ba@ ba@pa@a@ i@ ba@c@pbb@m@bg@g@ @ ba@va
@@ana@@a@na@a@@a@@@anb@Lba@a@@b@bm@a@a
@ @Nbna@@j@c@i@pba@a@m@@wn@b@bna@a@@ua@pbn
Z@bna@a@b
M@ 02M@ 01
@@La@na@@ ba@@bna@a@m@@ bna@bna@ b

@paaa@@@c@r@bna@a@nn@La@@paaa@paba@@ja@va@kji
@Luba@aa@ @ aa@ba@ lb@@b@paba@bc@ m@c@@ b@Lc@bdi
@@a@ bvna@ pbj@c@@@ a@@ba@a@ @bna@b@b
Npaaa@b@@c@paba@b
@ @
N49@L2004@Lba@Lbja@a@aa@La@@@a@bna@pnna@Zon@ic@a - 1
38
@ @Za@vy@bma
M@ 03M@ 01
@@g@ba@ubna@pbba@um@@Lxbna@bm@bma@g@a@aa@@
@aa@ a@ ba@ kji@ xbna@ bm@ @ @ b@ @ wn@ @ L@
@bg@ g@ @ @ Ln@ a@ bac@ na@ pbvna@ |@ bna@ bnb@ Nn
@@bna@a@@wmba@ ja@aa@ka@vz@Nba@bg@j@b@m@@pbb
@b@ N1 bna@ba@ va@pa@ pbba@bg@a@ L a@aa@@@ba@ g@
@c@@ubna@paya@bg@m@m@ Lxbn@u@pbm@bna@ g@ bc@bna@
@na@a@lb@m@ Nbna@ba@@ pabrna@b@g@ @ bL@bna
@m@ n@ @ bm@ oy@ a@ a@ c@ @ s@ pbvna@ m@ @ aa@ vy@ c
@m@@bm@ja@ aa@c@ a@ @b@Npbvna@n@ a@ac@n@ Lpbba
@bnya@ pb@ @ na@ ba@ @ g@ m@ a@ ba@ u@ b@ kbu@ g@ Lpbvna
@ @Npbuba@bj@bn@@@kbu@g@Lbvna
@ @Zbna@a@@b@@pba@a@@ka@
M@ 04M@ 01
@@paaa@@Lja@bvna@bjna@p@b@@bna@bna@@bm
@bna@bna@@b@ Na@ pb@a@ @ka@ @ g@@b@ Lba@@a
@@b@@wn@Lr@bna@b@bmb@Lbrna@@ba@m@ @@a@@b@g
@g@bc@bna@b@ bma@@b@Nbrna@ba@b@g@@b@vna@a@@ka
@m@xbna@@na@n@b@bnbi@La@ai@n@@aa@@brna@bg
@Laa@@ra@na@ na@pb@m@g@@b@i@bna@bnb@La
@ @Na@m@@bna@a@@b@g@@b
Zba@a@pab@@bna
M@ 05M@ 01
@paba@ ni@|@b@La a@i@ a@m@ cj@ jm@ g@bna@bna@

@@nm@r@a@zna@pba@c@bna@pbaa@m@L@@@ubna@paa
@u@ @ b@ @ a@ bna@ @ c@ bna@ b@ y@ bbjnbi@ a@ m@ cj
N168@@L1977@La@La@ba@aaL"a@bna@"@Zv@a@j@ - 1
39
@@ba@bna@@|m@a@bna@ a@b@iba@@N@@bna@na
@La@@na@pab@@bna@bna@a@pbbn@m@ ba@ ua@@cj
Nba@adi@jma@ba@n@@g@@b
@ @Zbna@bna@b
M@ 02
@ba@ pbia@@a@ um@Lbna@bna@b@a@baa@@a@kbu@g

@ja@ Lbna@ @ b@ v@ dm@ @ ba@ i@ c@ b@ Lbna@ paaubi@ jmm@ a
@ @Z1 @b@bc@@Lbna@bi@jma@pbbm@a@na@@d@a
@ @Zya@a@na@
M@ 01M@ 02
@c@ ba@ @ a@ b@ a@ na@ ym@ ja@ a@ uaa@ bg@ n

@i@ a@ bna@@j@a@ na@ym@a@@@ Lbna@ bna@pbbma
@di@ya@na@@ n@ c@m@r@a@j@Lba@@na@ba@i@na
@na@ m@ a@ a@ i@ c@ b@ Ljua@ a@ @ bmaa@ @ bm@ a@ na@
@a@@ bvna@bb@@ ba@@ja@kji@b@ja@na@@m@ob@ ag@ya
@ob@a La@ia@@b@b@@ bbi@@rc@@Lbna@@xb
@@ba@i@@b@ Lm@@i@ ba@bi@@bm@ ic@b@n@m
@ @N2 bvna@bb
@ @Za@ba@
M@ 02M@ 02
@ba@ m@ pbn@ @ na@ a@ Lbna@ pbbna@ @ u@ @ na@ @

@ba@ @ @ b@ N@ @ @ @ ja@ a@ ba@ u@ @ na@ g@ Lubna
@La@bna@pa@pbvna@ @ ba@ b@ kji@ @@d@a@i@@ a@a
@bd@ L@ a@ ba@ bna@ pbba@ n@ @ na@ aa@ g@ @ @ b
@sy@Lba@a@ @a@ja@@bbma@ ja@@ paaa@m@g@m@@ r@kaa
@na@ kaa@r@ aa@ m@@ ja@ym@ n@i@ La@ kaa@ac@b@ym@ @
N130@@L1988@Lpi@Lba@aaL"a@bna@"@Zb@i - 2
40
@ @N@ja@ba@m@i@@j@a@bvi@i@@ty@b@a@Lna@xbnbi
@ @Zba@m@paaa@m@
M@ 03M@ 02
@b@g@xbn@a@a@ba@yg@ ba@a@ i@a@paaa@m@r

@ba@ @ nm@ bna@ @ b@ j@ paaa@ n@ @ @ @ bmb@ Lag@
@a@@b@n@a@ba@paahi@@@n@c@bna@i@@sy@L1 ba
@@ ba@ @ a@ pbbn@ pbm@ i@ ba@ @ ja@ pbbna@ b@ i@ aa
@@a@a@ba@@@ jm@@b@ @br@Lb@bba@vn@a@paaa
@i@ba@paag@m@n@ c@a@ja@@ iba@@ Nb@b@i@ 1965@@ bg
@a@@ Lb@ba@ba@ @g@@@@ba@@j@bc@@ba@a
@@ bbc@na@@ La@ a@j@ a@paaa@@ba@m@ @ bbna@n
@ba@paaa@ @ba@a@ b@ j@g@ ba@@i@ba@ paaa@m@
@Na@b
@ba@@@bna@bna@c@pc@ ana@bna@pzna@c@a@
@@xba@i@a@a@pbjma@bg@g@b@a@@b@L@ba@bna
@@ Nbna@@@aa@@b@@b@ iba@pbjma@b@bg@ c@ Lbn@b
@pbbma@pnna@ m@ g@ba@@oy@@Lba@@@bna@pbbna@
@ia@ a@ b@ m@ j@ ny@ bbyc@ Lbzn@ a@ m@ Lbi@ di@ a@ bra
@ @Nbna@
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@ @
N314@@Lib@u@Zb@i - 1
41
@ @@bna@bna@@a@bna@@Zbra@szja@
@yba@bm@a@pana@c@@bna@pbvna@m@a@@una@n
@@lbvna@i@c@g@ Lbna@lbvna@b@@a@pbna@pbm@@La@bna
@La@bna@@@ bu@ia@ba@ r@Lbna@a@@n@ya@ oy
@pba@h@bna@@@a@bna@y@@a@ Nbna@pbu@c@@n@a
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@c@ g@ a@bna@i@m@L1 bna@@ a c@i@ aa@@ aa@@a
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@@ bna@ @ ja@ c@ @ a@ bna@ @ @ b@ L2 ba@ a@ p @ ya
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@nm@a@pbjma@@@c@@a@bnaHFritz
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@Lbna@ya@pbjmm@c@@a@bna@c@ HMachlupI@ @na@a@@N3 bna
@Lbna@bna@ zn@bb@b @o@ a@y@y@ aa@@ bna@va@na@z
@aa@ @ y@ c@ pba@ nm@ bvna@ c@ j@ bna@ lbvn@ bna@ aa@ c@ b
@ @@N208@@L2005@Laa@Lia@a@pbbna@a@nL"na@@lu@@pbbna@@a@qdm@"@Zbi@a@@M@2
3
- Fritz Machlup in Economic integration worldwide: Regional, sectoral, Macmillan, London, 1976, P. 09 @
42
@ba@ q@ ua@ @ a@ knm@ ba@ y@ c@ Lna@ pa@ bjm@ bg@ nm

@c@@ ua@a@pb@ auhi@a@pba@ auhi@|@ b@ d@b@@ Lbzni
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@ @Na@n@a@ba@ag
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@ @ba@a@i@aa@
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Centrale SupranationaleI@
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N@a@ana@@@ja@a@b@a@a@bbi
1
2
- Fritz Machlup, 1976, Ibid. p.20.

- Sitikantha Pattanaik in how closely the GCC approximates an Optimum Currency Area? Journal of
Economic Integration, 2007, p. 581.
43
@Lbi@b@ona@bc@g@a@ya@bg@@xna@@@@pba@bma@
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N276@@1981@Lpi@Lia
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3
- Paul Masson, Catherine Pattillo, une monnaie unique pour lAfrique, finance et dveloppement, dcembre
2004, P.14.
4
- P.Coffey and J. presly in European monetary integration, Macmillan, London, 1971, p. 24.
44
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45
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@@ Lja@ pba@m@@@bvna@bjna@b g@@b@b@ bhi@ a@a@m
@i@a@@@ Lpb@ ia@bbi@@b@ 1958@@ 1950@a@@ ia@ba@ bc
Na@
@Z@a@bc@b@@na Ml
@pa@ @ bc@ i@ lin@ b@ @ n@ ba@ a@ i@ bma@ aig@ n@
@i@ @ ba@ a@ p@ a@ b@ b@ i@ biz@ @ @ @ a
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@bu@ @ LHsnake
in the tunnelI@ a@ a@ bjra@ bi@ @ b@ na@ a@ ia@ ba
@zna@pba@@kji@pbu@a@Lba@a@ba@@a@bjna@i@ba@a@jm
@bi@ ana@ @ bma@ g@ ia@ ba@ ob@ sy@ L1971@ @ ka@ g@ a@
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@ @N2 ba@@ja@bi@ib@bm
@ @
@ @
@ @Za@pba@@@La@pba@pab@ra@a@@pba@@ia@pba@ba@n@M 1
- Triffen, R@in Europe and the Money muddle, Yale University press, new haven, 1958, p.105.
@nL"@a@ia@ba@pb@a@ag@bjmg@@a@pb@@qdm@@ "@Za@aa@j@b@n@ M@ 2
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48
@ @@bna@bc@ Npba@a@@va@ pa@a@ c@ La@pb bnya@@va@ pa@ a

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@pbbma@ Lzn@ iba@ @ pa@ a@ @ iba@ bc@ @ ka@ b@ @ na@ g
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@L@@a@@bra@ba@la@b@Nna@@jua@bmb bnya@b@ua@
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@ni@bma@ku@ a@a@@ bg@ b a@a@@@sy@La@a@ba@ g
@@ or@ a@ Lna@ a@ p@ @ bc@ @ bbc@ @ n@ a@ aa@ zn@ L
- Bo Sodsersten, International Economics, The Macmillan Press, London, 1970, pp.268-269
51
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@ @Nka@a@a@b@@a@La@a@bc@b@g@zna
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3
- Maurice Obstfield : The Logic of currency crisis , Cahiers Economiques et Monetaires, 43,189-213 : 1994
54
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- J. Tobin : A Proposal for international Monetary Reform Eastern Economic Journal, 4. 153-159.1978
- J. Williamson and miller : Targets and indicators : Ablue print for the international coordinator of
economic policy institute for international economics. Washington (DC).1987
55
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3
- Sitikantha Pattanaik, 2007, op.cit, p. 576.
57
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@m@ @@g@m@@Nra@a@a@@@ ibn@@ ( Yoshihide Ishiyamain)bna@pabjna@m@ - 1

Nbg@ba@a@Lra@a@y@@@bnc@pabjna
58
@HwoodI@ @@ HkennenI@@ HMckinnonI@b@brc@@bna@ i@a@a@a@ibm

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@a@a@@a@nm@pb@@g@a@m@c@c@k@a@ g@a@a@@obm@a@pbaa@i@om - 1
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- Jacque Mlitz in The Current Impasse in Research on Optimum Currency Areas, European Economic
Review, 1995, p. 493 - 497.@
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1
2
- Ronald I. McKinnon in Optimum Currency Areas The American Review, 1963, p.724.
- Robert A. Mundell in A Theory of Optimum Currency Areas, The American Economic Review, 1963,
p.658.
60
@by@g@a@vnm@@n@a@a@@i@La@bc@ @@@L@m
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4

- Robert A. Mundell, 1961, op.cit, p.658.
61
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@@c@ i@sy@Lb@@ 1963@b@@b@ na@ @iba@pabna@kbu@a
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1
- Tito Boeri, nouveaux citoyens, vieilles frontires, finances et dveloppement, juin, 2004, p. 37.@
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62
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@a@g@ubn@iba@a@j@c@Lba@a@wmba@g@pba@a@@paaa@paba@i@bna@@b@ - 1
@ @Zc@pba@@@La@bm@bc@@bi@na@n@Lubn@iba@
- McKinnon Robert in Optimum Currency Areas, American Economic Review 53, 1963, p. 717 - 725
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- Roman Horvath And Lubos Komarek in Optimum Currency Area Theory: an approach for Thiniking
about Monetary Integration, Warwick Economic Research, University of Warwick) 647, august 2002
p. 15, available on: www.warwick.ac.uk
3
- Sitikantha Pattanaik, 2007, p. 576.
2
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2
- Kenen Peter, in the Optimal Currency Areas: An Eclectic View, 1969, p152. & R. A. Mundell and A.K.
Swoboda in Monetary Problems of the International Economy, University of Chicago Press). P.49.
3
4
- Kenen Peter, op.cit, 1969, p.49.
65
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2
- Francesco Paolo Mongelli in New Views on the O.C.A Theory: what is EMU Telling Us? , European
Central Bank Work Paper Series, 128, April 2002, p. 10.
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- Xiaodan Zhao & Yoonbai Kim in Is the CFA Franc Zone an Optimum Currency Area? World
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- Francesco Paolo Mongelli, 2002, op.cit, p. 25.
70
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- Sweta Cheman Saxena & Mirza Allim Baig in Monetary Cooperation In South Asia : Potential and
prospects, Discussion paper 71, Research and information system for the Non-Aligned and other
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- T. K. Jayaraman in Patterns of Shocks and Regional Currency for the Pacific Islands, Journal of
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1
- Lawrence B. Krause and Walter Salant in The European Monitory Unification and its Meaning for the
United States, USA The Brookings Institution, 1973, p. 33 340.
2
- J.C Ingram in The Case for European Monetary Integration , Princeton University, Essays in international
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- Ying Huang & Feng Guo in Is currency union a feasible option in East Asia? A multivariate structural
VAR approach, Research in International Business and Finance, 2006, p. 77 - 94.
- Philip R. Lane in Asymmetric Shocks and Monetary Policy in a Currency Union, The Scandinavian
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2
- Herbert Grubel in The Theory of Optimum Currency Area, The Canadian Journal of Economics 3(2):
1970. p. 318.
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@b@ @ L1 y@ pba@ a@ n@ @ t@ a@ pba@ pan@ pbibvna@ m@ s
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Nwbna@c@a@a@oy@
@ @@ra@a@@aa@paa@Zbra@ka
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@pbaa@ i@ om@ a@ wbna@ @ @ Npbba@ @ @ c@ i@ bna@ paa
@pbba@ ob@ ag@ c@ g@ 1969@ @ @ @ 1993@ @ b@ a@ b@ La@ bna

- Herbert Grubel, 1970, op.cit., p. 318.
3
- Sitikantha Pattanaik, 2007, op.cit., p. 575.
2
79
@n@bna@paa@h@Ln@@ bc@i@pbba@pbba@ m@@b@Ln

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1
- Antonio Mendonca, Joao Silvestre & Jos Passos in The shrinking endogeneity of Optimum Currency
Area criteria: Evidence from the European Monetary Union- A Beta regression approach, Economic
Letters, 2011, p. 113- 65.
- Paul Krugman in Revenge of the Optimum Currency Area, Working Paper, DU. p. 2.
N116@@L2005@Laa@bu@Lia@a@pbbna@a@n@L"bna@qdm@ia@a@ba"@Zb@bn - 3
- Xiaodan Zhao & Yoonbai Kim, 2009, op.cit, p. 1877-1886.
80
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@@a@a@La@na@pb@@a@q@@L@y@@@zna@@pba@
@a@ @ @ j@ i@ a@ @ bm@ u@ mm@sy@ L(Segmentation)@ aa@@
N1 ya
Zba@c@ac@@ M@ 02
@a@ ba@@a@ag@ @@Lba@c@ac@@ya@@iba@baa@m
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N01@@Lib@u@Ze@ba@aig@ - 1
81
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@ @pb bnya@bnya@g@a@uby@@@ba
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@ @aa@
@b@iba@pba@@ban@a@@ q@a@ |@g@Lpa@@ana@
@ @Nba@
@@ba@a@i@pbja@b@g@@@La@bc@@bhi@a@a@|m
@ @ba@a@@na@@xbna@b@g@@b@L
@yba@ @ bna@ @ bna@ b@ i@ ba@ a@ i@ a@ a@ b@ |
@ @Njua@pabrna@ku@a
1
-Linda S. Goldberg in Is Optimum Currency Area Theory Irrelevant for Economies in Transition? West
view Press, 1999. p. 20.
02@@L2006@Lba@bm@bu@L"a@ba@pbba@@a@ba@qdm"@Zba@ba@j@jn - 2
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@ @
@ @Paul Masson et Catherine Pattillo, 2004, p. 13.@
1-
2-
Ibid., p. 13
83
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@ @a@ba@b@@a@m@bg@@m@a@@bjnbi@La
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1M
Paul Krugman, DU, op.cit, p. 2.
@L2000@La@Lqra@sbra@a@La@bna@a@L"a@@bjma@@ya@va@a"@Zbi@a - 2
N29@
84
@@u@@ nm@@na@ba@@u@a@@rna@ bna@ c@a@@

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@@La@ ag@@ba@ paaa@@u@a@ bc@Npbba@ m@ jm@i@@nm@
@m@@ba@a@oz@ag@a@ba@paaa@kba@bm@@bm@n@c@@paag
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@ah@Na@n@@xbna@a@y@bc@@ua@@ba@@bj @bnc@nm@sy@Lb
@Lb@aa@a@bc@b@j@@a@@@b@Lr@m@aa@@@b
@m@aa@a@@@@Nbbg@k@a@a@bra@uaa@um@@g@bg
@ @Nya@a@@@ba@bna@baa@c
@ @02M@ 04@Z@u
@ @ya@a@@@ba@bna@ba
@ @bna
@ @ba
a@ba@@na@a
bvna@brna@v@b@dna@@bc@a@bc@k
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@m@b@bna@pana@@pba@bm@k
@a@b@a@a@@@o@a@a@@bu
ba
ya
a@bna@
pba@a@@na@x@@a@b@a
r@j @@zni@ka@bma@g@m@@@m
a@@i@ba@pba@ja@bqa@bna@
@@bna@a@@@@bvna@bjna@p@
@lbna@b@ana@@kji@bna@ba@a
paaa@bc@@paba@bc@
ya
a@a@bc@b@@m
@a@n@y@b@bna@@@ya@aa
bvna@bjna@b@ba@b
bja@vy@@La@pbbn@a
bvna@xba@
a@ba@a@a@@bna@a@na
@ @Nbm@kji@bna@pbia@qa@
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a@a
@a@@na@g@@@a@a@b@@a
@ @a@paba
Source: Sitikantha Pattanaik in How closely the GCC Approximates an Optimum Currency Area? Journal of
Economic Integration 22(3), 2007, p. 579.
85
@vy@kn@ a@a@@c@g@ya@a@@@ m@@a@ bna@baa@

@a@zna@@@b@Lbna@pbba@wai@m@a@ba@pbya@@n
@b@Lpbya@ ni@jma@bna@baa@@a@bc@b@kmm@@y@ya@a
@Lba@ ba@ bna@ aa@ @ a@ m@ kn@ @ h@ ba@ a@ na@ b
@bmbi@na@pbia@m@@@bby@b@aa@@r@a@ba@aa@m@b
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@ob@ @ pbaa@ i@c@ @a@@L@@wbn@@ c@@@a@ ba@m
@ua@ ba@@jma@m@r@ a@ a@@@@@pbjm@@ auhi
@@ pba@ na@ p@ lbm@ ba@ bvna@ xba@ g@ bg@ Lxbna@ a@ bna
@ @N1 bm@@@wbn@g@nm@@aa@m@c@g@Lna@bna@bna
@ @
@ @
@ @
@ @
@ @
@ @
@ @
@ @
@ @
@ @
@ @
@ @
1
-European Central Bank in New Views on the Optimum Currency Area Theory: What is EMU telling us?
Working Paper 138, 2002, p. 31-32.
86
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@ @Naa@a@@|@@b@@ba@bna@pba
@ @
@ @
@ @
- Paul Masson et Catherine Pattillo, op.cit, 2004, p. 9.
87
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@ @02M@ 05@Z@u
@ @bg@@a@a@paba@
@ @bna@pba@@ba@a
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@biu@bg@@a@@a
@ @HbaI
@ @ibj@Lbja
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@ @ji@mb@La@Liba@Lana@b
@Lbi@b@Lb@Lbb@LbjbuLa@p@La@ca@Lbi@Li
@ @um@La@Lba@Lbv@Lva@Lb@Lb
@ @bra@a@ba
@ @a@bg@@bna@ba
@ @sbra@a@ba
@ @bg@l@@bna@ba
@ @iaa@a@ba
@ @bg@i@ba@ba
@ @ba@a@ba
@Lj@L@LLm@L aa@a@@Lbami@La
@ @ibj@Lbja@Lbam@La@Lba@lu@L@Lbjb
@ @Nji@mb@L@L@La@u@La@ca@r@@u@@Lpaba@@ba@a@@@a@a@a@i@b@Zy
@ @@Z@aa@pbbja@g@bna@sybja@ag@@Za
- Paul Masson, Catherine Pattillo, une monnaie unique pour lAfrique, finance et dveloppement, dcembre 2004, P.10.
88
@a@g@@@bg@@ya@a@paba@c@g@pbaa@m@a@aa@
@aa@na@ @ba@pba@lb@@@b@Nya@a@ @ zn@ba@bi
@a@a@ua@@ja@bi@@@@@@a@a@ja@@b@Lb@i
@@na@ c@ bna@i@@ Nna@a@pbba@bna@Lvbi@na@ g@aa
@paba@m@@ba@a@zn@@ana@n@c@@bg@@a@paba@bg
@@@@ Npaba@m@@a@a@ uc@@a@@La@bmbb@@
@ @Nbg@@bby@ba@a@paba@c@g@ba@aa@a
@ @02M@ 06@Z@u
@ @bg@@bby@ba@a@paba
@ @a@paba@@ba@a
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@ @a@b@
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@ @bg@l@
@bn@bg@l@a@bna@ba@a@b@a@bna@ba@Zy
@ @Na@ba@@bn
@Zg@abna@sybja@ag@@Za@
- Paul Masson, Catherine Pattillo: une monnaie unique pour lAfrique, finance
et dveloppement, dcembre 2004, p. 11
@aa@ bvn@ a@ a@ ba@ bg@ @ a@ g@ bna@ pbaa@ i@ m

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@paa@@ba@pbna@@@b@Lau@@aa@ba@pzna@ob@o@
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N426@@L1980@Lbj@Lia@ya@pba@@Lia@a@bna@@L"bg@l@a@ba@i@ "Zbmbi@bm - 1
89
@pnna@ bvna@ pbvn@ @ a@ a@ bg@ @ Nya@ a@ @ bg@ @ a

@a@Lbna@b@jb@b@pbjmm@ g@na@@a@bm@ c@ a@bna
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@c@ b@Lb@am@@ nbi@na@ pbzna@ h@ bg@@a@ a@ja@ nbi
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@oa@@@Na@ba@j@c@@c@aa@va@@g@a@na@ui@m
@bg@ @ Nb@ am@ @ bg@ @ a@ ba@ b@ jbi@ ba@ aa@ @ d
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@a@bna@ ba@b@n@m@a@ @a@a@@@ a@a@
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441@@Lib@u@Zbmbi@bm - 1
2
- Paul Masson et Catherine Pattillo, 2004, op.cit, p. 11
90
@ac@@L@@a@@ a@ b@a@bna@ba@ @c@@Lpbba

@ @ @ pb@ bg@ @ pb@ a@ ba@ a@ @ @ by@ c@ oqy@ pbbra
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@b@ @@p@pa@@@ b@ i@Lba@a@a@bna@n@@la
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- Paul Masson et Catherine Pattillo, 2004, op.cit, p. 11

91
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- Paul Masson et Catherine Pattillo, 2004, op.cit,P 12

92
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- Andrew K. Rose & Charles Angel in Currency Unions and International Integration, Journal of Money,
Credit and Banking 34(4), 2002, p. 1085.
94
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(
European Economic
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- Franois desheemakaekee : mieux comprendre lEuro ; dition dorganisation, paris, 1998, p. 43

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-Marie Martine Salort: LEuro, Edition LIRIS, Paris, 1999, p. 55
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- Banque Centrale Europenne: La Mise En uvre de La politique montaire dans la zone Euro, Fvrier,
2005. p. 11
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- Marie Martine Salort, 1999, op.cit., p. 47
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119
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-Herv Juvin : stratgies pour lEuro, Edition les Djinns, Paris, 1998, p. 11.
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- Andrew K. Rose & Charles Angel, 2002, op.cit., p. 1085.

123
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N412@@Lib@u@Ze@bi@i@ - 1
N234@@Lib@u@Zbc@bz@M@ 2
124
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@ @
- Atish R. Ghosh & Holger C. Wolf in On the Mark(s): Optimum Currency areas in Germany, Economic
Modeling 13, 1996, p. 572.
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125
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126
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127
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128
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1
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154
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1
- Fred H. Lawson, Mills College in The Gulf in the Contemporary International Economy, CIRS, Center for
international and regional studies, p. 3.
156
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- Fred H.Lawson, Mills College. Ibid, p. 4.
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1
- Fred H.Lawson, Mills College, op.cit, p. 3.
165
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171
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- S.L Baier, "The New Regionalism: Causes and consequences", A paper written for The Inter-American
Development Bank and CEP conference, University of Notre-Dame, 2006,p:14.
N402Nib@u@Lia@ba@@a@@bna@na@Z@@a@a@j@@M@3
N639@@Lib@u@Z@@u - 4
172
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173
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Na@a
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@@M@Triffen R, 1958, op. cit, p. 122.
174
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175
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176
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1
- Tamim Bayoumi & Barry Eichengreern in Ever closer to heaven? An optimum currency area index for
European countries , European Economic Review 41, 1997, p. 769
177
va@a@ba@b@ba@yaa@Zsbra@ka
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4 0 @L2 0 1 1 @au@L3 9 @a@La@@Zbna@@@a@ba -
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a ba@bvna @Nbra pbbma c a bma c kma ba a i b bvna

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- Laurence Summers, Op Cit, p:308.
178
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@ @@a@@a@aa@@ba@bja@pbbi@ag@kbu@g@La
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1
- Belkacem laabas an Imad Imam in Are GCC countries ready for currency union? Arab Planning Institute,
Kuwait. April, 2002. p. 25@N
179
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4 1 @Lib@u@La@@Zbna@@@a@ba - 1
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180
@@ @ aa@ bj@ ba@ jaa@ ba@ a@ nna@ paauhi@ a@ a@

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181
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@ @Za@ba M@ 01
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- George T. Abed, S.Nuri Eebas, and Behrouz Guerami. The GCC Monetary Union : Some Considerations
for the exchange regime, IMF Working Paper WP /03/66, Washington, D.C International Monetary Fund,
2003, p. 3. web site : (www.imf.org)
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2
- IMF, Global Financial Stability Report, op.cit, p.49.

@- Badr El Din A. Ibrahim in Intra-national Labour Mobility between Arab Gulf Cooperation Council States,
Economic Research Forum, annual Conference , 2005 Cairo, p.17.
3
221
@@ @ @ a@ aa@ @ a@ g@ ba@ @ Na@ n@ a@ bna@ pbba

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1
- Belkacem Laabas, in Are GCC Countries Ready for Currency Union? Arab Planning Institute, Working
Paper, 32, (2002) p. 6.
223
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@N239@L1979@@Loa@buLia
@- Ishiyama in the theory of Optimum Currency Area: as survey OPCT. P. 368-396.
M@ Sitikantha Pattanaik, op.cit, p. 581
3
4
229
@ @05@M@ @41@Z@u
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@ @vn@ib@@b@ib@q@a@@a@Za@ua@@HI
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@p@@lbna
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Source: Sitikantha Pattanaik in how closely the GCC approximates an Optimum Currency Area? Journal of
Economic Integration, 2007, p. 581@
@ @
230
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2
@- Mohammed Zahar in GCC Common Market Crucial Step To Capture Gains From Integration, NBK GCC
Research Note (15/10/2008) p.4, Available on ( www.nbj.com)
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246
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- Nicola Giammarioli and Others in assessing Fiscal Soundness: Theory and Practice, ECB Occasional
Paper 56,March 2007, p. 5-6.
Za@pba@@@Ossowski@Barnett@bbna@b@a@a@g@bc@@c - 4
- S. Barnett and R. Ossowski in Operational Aspects of Fiscal Policy in Oil Producing Countries,
IMF Working paper, 17, 2002, p. 3-6.
248
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N2 @a@ba@xb@b@xbna@b@m@pbb
- Koceila Moames in GCC Monetary Union: Relevance Feasibility and Timing, Calyons Africa
and Middle East Economic Survey ( Nicosia Cyprus) 14, April 2007, p. 2-3.
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- George T. Abed, S. Nuri Eebas, and Behrouz Guerami: op.cit, p.@5.
250
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@pba@@@ a@bn@a@pba@m@ 2017@@ 2012@a@ i@b@bn@@ ag
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@ @ Na@m@i@bjna@c@lbna
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N148@Lib@u@@Z@v@ - 1
253
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Source: IMF: world Economic outlook, April, 2011.@
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254
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255
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@@ b@ @ j@ Nbna@ @ c@ ba@ @ @ c@ bby@ ia@ ba@ r
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Nba@@
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2
@ M@ Jassin Al-Mannai in The Euro Impact On The GCC Economy-Finance, Gulf Euro Summit, Dubai,
October, 2000, p. 8
256
ba@b@Lpbja@bm@ba@kji@ba@b
@ @@ia@ba@@@ba@aa@i@ba@bna@m
@m@sy@Lba@@@@wn@c@r@bna@@@ g@@ba@bg@@
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@h@ @kbu@g@Nba@bna@@@i@bbi@pbbna@n@|m@p@@Lba
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@bma@ m@ @ @ @ @ Lba@ bna@ ba@ n@ pbm@ c@ @ b
@ja@ c@ @a@@ Nna@ @a@a@ @ @bc@@ 1981@@ a@ @bna
@udm@a@h@Lya@@@m@ana@@ba@b@@a@ba@a@c@
@@ @ba@ja@@Lbna@ bna@c@baa@@n@@bg@c@ a@ ba
@di@@ja@c@g@Lya@@@ba@ba@c@m@ob@aa@m@c@@N2 a
@@a@Lby@ bb@b@ n@a@bi@ @@Lva@ya@@@ba@a
@ @Nbna@bna@@@@b
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@ba@ bna@ r@ Lbna@ pnna@ g@ ba@ i@ jma@ ba@ b@ @ bnm
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@ @
@ @
@nc@g@bi@@Lbna@i@@@a@ra@a@a@b@@b@ba@a@a@@qbna@aa@ - 1
@bna@b@@a@bi@a@m@a@a@c@g@m@Wei@bi@b@a@@La@bna@bna@b@m@
@ @Za@pba@@@bna
- S.Wei in Intra-National Versus International Trade: How Stubborn are Nations in Global
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2
- Alexis Antoniadis in The Gulf Monetary Union, CIRS, Center for international And regional studies, p.18
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@Za@ba
@i1 @bn@a@a@@@aa@ba@aa@a@na@a@y@@sy
@pb@bna@pba@|@a@ia@ba@@Lba@a@i@am@paa@g@a
@ @@Nya@bna@b@@a@@w@n@c@g@bm@bmby@am@@
@Zbra@ba
@@ paaa@ ba@ @ bbi@ m@ a@ a@ @ @ ona@ @ jna@ ba@
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@c@a@a@b@@pa@nm@@bi@La@ba@a@bvna@@brnbi
@@i@a@@ia@a@@g@y@@Na@ba@lbn@@paaug@ bna
@Naa@ @ a@ y@ bc@ a@ @ bhi@ a@ a@ y@ oy@ L@ 1968@ @ 1958
@j@ia@ba@a@ja@bg@Lia@a@ba@bg@@pbna@ai@@o
@b@ni@nm@ia@ba@@c@@bna@yba@@N2 @ pa@ i@a@a
@a@@c@y@@Lba@bna@@ buba@bnbna@bm@ubna@ba@m@a
@Lnb@m@@bna@pb@b@@pbvmaa@ahi@@bna@@na@a@@b@bu@@a@a@ @M@ 1
@ @@Nc@@a@i@b@@@g@a@a@a@m@c@
2
- Belkacem Laabas & Imad Imam in Are GCC countries ready for currency union? Arab planning institute
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258
@a@ia@ba@by@@@ja@bvna@vy@@b@La@@bmbbna@nm
@ia@ba@@ c@@b@Lb@uba@bvna@bg@@ E@ 60@j@g@ja@bvna@m
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@ @Npa@10@i@a@bna@@ja@j@lbna@b
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1
- Ibid, P. 16-17@N
@zni@ba@a@ja@a@pb@b@@bna@ba@bna@@m@@a@@@a@a@a - 2
@@a@v@ja@a@g@@byg@o@Lbi@na@ka@ba@m@lby@@s@bnbi@m@@Lba@m
Nlbna@b@jm@n@@c@L2006@
3
- Samba Financial Group Saudi Arabia, Economics Department, GCC Monetary Union: progress to date
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259
@@@a@ I@a@ba@@ na@@ c@r@ (Buiter)bna@ @Lia

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@i@ d@ @ a@ ba@ bg@ j@ ba@ a@ @ c@ @ La@ @ na
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@bna@ b@ @ m@ a@ bna@ na@ @ lb@ c@ b@ La@ bna@ a
1
- Willem Buiter in Economic political and Institutional Prerequisites for Monetary union among the
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M International Monetary Fund: Monetary union among the member countries of the gulf corporation
council, April. 2002. p. 22@N
260
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263
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264
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@ @@Zaa@wbna@@bzn@Lbna@ba@@@ibm@n
@05@@48@Z@u
@ @ja@paba@br@a@a@wmba@i@a@a@m
@ @xa
R2=0.9424,R2(adjuster)=0.9418
F**=1637,dw**=1.30
@ @n=102, Wald test**=23989
@ @@oibra
@ @HxtI@paba@br
@ @24011
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@ @21.82
@ @H0.537@I***
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265
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@ @oibra
R2=0.641,R2(adjuster)=0.637
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@ @H0.447I***
**
@ @n=102, Wald test =4.115
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@ @0.802
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R2=0.950,R2(adjuster)=0.94
7
**
F =304,dw**=0.98
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267
@ @05@M@ 51@Z@u
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60
**
F =129,dw**=0.046
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268
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269
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273
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@ @15.1 @ @%10.1 @ @%47.7 @ @%2.0
%25.0
@ @
@ @9.5
@ @14.6
@ @9.9
@ @5.2
@ @11.9
@ @
@ @
@ @10.72
@ @
@ @
@ @
@ @H@@I@ba@a@wmba@bg
@ @@ba@a@wmb@a@na
@ @@na@
@ @|ua@na@
@ @@lbna@b
@ @12.72
@ @@ba@@b
@ @
@ @
@ @2.87
@ @2.24
@ @2.58
@ @3.09
@ @2.11
@ @
@ @
@ @2.31
@ @
@ @
@ @
@ @ba@bc
@ @b@bc@qq@c@n
@ @@lbna@b
@ @4.31
@ @@pbbnya@b
@ @
@ @
@ @17.210 @ @12.771 @ @43.512 @ @5.120 @ @77.300
@ @H@@I@ua@a@@pbbnya
@ @
@ @28.601 @ @35.140 @ @104.702 @ @13.595 @ @160.462
@ @H@@I@paaa
@ @
@ @7.2
@ @4.4
@ @5.0
@ @4.5
@ @5.8
@ @@lbna@b
@ @c@04@@rc@n@b@paaa@g@pbbnya@j
@ @@ba@aa@v@b
@ @
@ @
@ @
@ @21.836 @ @14.952 @ @157.089 @ @426

@ @15.1
@ @13.5
@ @33.6
@ @44.717
@ @2.1
@ @18.3
@ @0
@ @
@ @0.0
@ @0.0
@ @21.463 @ @4.588 @ @38.011

@ @7.5
@ @23.5
%17.7
@ @a@a@wmba@@%60@ba@z@ba@a@j@bvnm@c
@ @
@ @
@ @8.065 @ @6.148 @ @63.126 @ @3.670

@ @5.5
@ @6.2
@ @@a@wmba@g@a@H@va@I@ba@j
@ @ba@a@b
@ @
@ @0
@ @@a@Hva@I@ba
@ @@lbna@b
%03M@ @@a@a@wmba@g@Hva@I@ba@j
@ @
@ @@paaa@g@pbbnya@j
@ @13.5
@ @18.3
@ @@ba@a@@ba@a
@ @@a@wmba@g@a@j
@ @@lbna@b
@ @0
@ @@a@a@@ba@a
@ @0.0
@ @@a@wmba@g@ba@a@j
@ @a@a@wmba@@%70@a@z@ba@a@j@bvnm@c
@ @@lbna@b
N10@@L2009@La@ia La@a@Lbna@lbna@pavn@@Za@ba@y@Za
292
04@Z@za
ba@a@wmba
2011M1995@@@bna@@@
01Z@u
@ @@@@@Zya
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
@a@
K.S.A
142458,0
144452,4
164994,0
145967,0
142857,0
188442,0
183012,0
188551,0
214573,0
250339,0
315337,0
356155,0
384686,0
476305,0
376692,0
455922,0
597086,0
a@
U.A.E
65744,0
68702,5
51189,0
48500,0
52134,0
69980,0
68909,0
73635,0
86686,0
104524,0
180617,0
222106,0
258150,0
314451,0
259734,0
283916,0
338690,0
paba
OMANE
138030
14327,5
158370
14086,0
15604,0
19450,0
19399,0
20048,0
21543,0
24674,0
30905,0
36804,0
41901,0
60732,0
48268,0
59228,0
72680,0
KUWAIT
27181,0
28485,7
30227,0
25942,0
29673,0
37714,0
34906,0
38129,0
47869,0
59439,0
80799,0
101574,0
114564,0
147538,0
105928,0
124315,0
160897,0
oa
QATAR
8138,0
8740,2
11298,0
10255,0
12197,0
17760,0
17538,0
19364,0
23534,0
31675,0
43040,0
60497,0
80751,0
115270,0
97798,0
127332,0
173519,0
BAHRIN
5889,0
6171,7
6348,0
6184,0
6621,0
8028,0
7971,0
8491,0
9747,0
11235,0
13459,0
15852,0
18472,5
25711,0
22938,0
25713,0
28991,0
zja
COUNTRY
a
Totale
06@Z@za@@ja@ba@Zg@abna@sybja@ag@@Za@
293
ba@c@va@j
2011M@ @1995@@@bna@@@a@wmba@g@@
02@Z @u
@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@bbi@Zya@
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
@a@
K.S.A
-5,7
-3,6
-2,9
-10,0
-7,0
4,5
-3,9
-2,9
4,5
11,4
18,4
21,9
12,2
32,5
-6,1
5,1
13,.0
a@
U.A.E
-0,6
0,6
-0,1
-1,0
-1,3
-3,7
-10,5
-10,8
-4,5
-0,4
18,1
12,1
6,5
7,4
-8,3
-6,6
3,4
paba
OMANE
-9,0
-4,5
-0,7
-6,9
-7,7
-4,8
-4,2
0,9
1,4
2,4
2,6
3,7
0,3
0,3
-4,8
4,2
11,7
KUWAIT
-8,2
5,4
-4,1
-16,1
13,6
10,6
16,6
11,2
10,0
15,1
29,1
28,6
15,7
22,6
9,5
18,7
11,5
oa
QATAR
-4,5
7,5
-7,8
-4,5
-0,6
7,2
3,5
8,5
3,9
16,4
9,2
9,7
10,9
10,0
15,3
-2,1
4,7
BAHRIN
-3,4
-0,3
0,1
-6,5
-2,6
2,2
-1,0
-0,1
1,8
1,4
5,1
2,4
3,1
6,6
-6,0
-5,5
-0,3
zja
COUNTRY
a
Totale
294
@ba@a@j
2011M1995@@@bna@@@ba@a@wmba@g@
03@Z @u
@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@bbi@Zya@
COUNTRY
@a@
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
K.S.A
21,2
21,2
21,2
21,2
21,2
21,2
21,2
24,5
21,5
17,7
11,8
8,6
7,5
4,6
8,1
8,1
8,1
a@
U.A.E
7,1
7,1
7,1
7,1
7,1
7,1
7,1
6,1
7,0
8,3
8,7
13,8
17,7
15,1
13,8
15,1
15,4
paba
OMANE
23,0
22,9
22,7
25,8
22,9
17,9
18,8
18,1
12,6
10,4
7,6
13,1
14,2
5,0
15,3
13,9
12,7
KUWAIT
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
5,9
4,3
oa
QATAR
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
0,0
BAHRIN
29,5
29,5
29,5
29,5
29,5
29,5
29,5
23,5
31,7
33,3
29,8
26,0
23,5
22,9
25,6
14,5
16,6
zja
a
Totale
295
na@
2011M1995@@@va@bna@@@@
@@@@@@@@@@@@ @@@@
@@@@@@
@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
@@@@@@
04 Z @u
@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@bbi@@Zya@
COUNTRY@@
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
K.S.A
4,9
0,8
-0,4
-0,2
-1,3
-0,6
-0,8
0,6
0,6
0,4
0,7
2,2
4,2
9,9
5,1
5,4
5,0
4,8
a@
U.A.E
2,0
2,0
2,0
2,0
2,0
1,4
2,2
2,9
3,1
3,6
6,2
13,5
14,0
12,3
1,2
0,9
1,0
1,5
paba
OMANE
1,3
0,3
0,6
-0,3
0,0
-1,6
-1,0
-0,6
-0,4
0,6
1,9
3,2
5,7
12,4
3,6
3,3
3,8
3,5
KUWAIT
2,1
2,4
0,7
0,2
1,0
1,8
1,7
1,4
1,0
1,0
4,1
3,0
5,0
10,6
4,0
4,1
5,0
4,0
oa
QATAR
3,0
2,6
4,9
2,9
3,0
1,7
1,4
1,0
2,3
2,8
8,8
11,8
13,5
15,2
-4,9
-2,5
1,9
3,5
BAHRIN
1,0
3,0
1,7
-0,4
1,3
-0,7
-1,2
-0,5
1,6
4,9
2,6
2,0
3,6
3,5
2,8
2,0
1,0
1,5
zja
a
Totale
296
ba@bc@
2011M1995@@@bna@@@
05@Z @u
@ @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@bbi@Zya
COUNTRY@
a@@
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
K.S.A
6,0
5,4
5,8
6,4
6,0
6,7
3,9
2,2
1,6
1,7
3,8
5,0
4,8
2,6
1,5
1,1
1;0
a@
U.A.E
3,0
3,0
3,0
3,0
3,0
6,5
3,8
1,8
1,2
1,6
3,4
5,1
4,8
2,1
3,9
3;9
3;9
paba
OMANE
2,7
2,7
2,7
2,7
2,7
6,2
3,5
1,5
0,9
1,2
3,1
5,2
5,3
4,5
4,5
4,5
4,5
KUWAIT
3,8
3,8
3,8
3,8
3,8
6,9
4,6
3,0
2,5
2,1
2,8
5,4
4,6
4,6
4,4
4,4
4,4
oa
QATAR
3,0
3,0
3,0
3,0
3,0
6,4
3,6
1,6
1,1
2,5
4,5
4,9
4,7
2,2
4,1
4,2
4,2
BAHRIN
6,2
5,7
5,9
5,7
5,6
6,9
3,9
0,9
0,7
2,0
3,1
4,8
4,7
3,1
3,9
4,1
4,1
zja
a
Totale
297
bi@paaa@m
2011M1995@@@bna@@@
@ @ 06Z@u
@ @@bi@ @Zya
COUNTRY@@
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
@a
K.S.A
6,8
6,8
6,8
6,2
7,9
8,5
7,4
8,3
8,0
8,0
34,1
42,4
44,4
52,3
56,5
54,8
54,8
a@
U.A.E
2,9
2,9
2,9
3,3
4,0
5,3
5,2
4,9
4,0
3,5
3,4
3,8
7,1
2,2
2,9
3,2
3,2
paba
OMANE
4,0
4,0
4,0
2,4
7,7
6,2
5,3
6,8
7,1
5,5
6,5
6,1
8,0
6,6
9,1
8,1
8,1
KUWAIT
5,3
5,3
5,3
6,1
8,6
13,1
16,9
13,4
9,1
8,5
7,1
9,3
10,0
8,9
14,1
13,4
13,4
oa
QATAR
3,4
3,4
3,4
5,6
6,8
4,9
4,6
4,9
7,9
7,4
6,0
4,4
5,4
4,5
9,8
17,6
17,6
BAHRIN
4,3
4,3
4,3
4,9
4,7
4,3
5,0
3,8
3,4
3,3
2,7
3,4
4,6
3,3
4,7
5,5
5,5
zja
a
Totale
298
pab@bg@ja@paba
2011M@ 1995@@@bna@@
07@Z @u
@@@Zya@
@a@
COUNTRY@
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
K.S.A
3586,1
4342,2
4557,2
3322,6
3554,1
4270,2
3937,1
4463,4
6215,7
8203,7
12057,0
15624,5
18966,0
22065,0
19078,0
20521,0
24676,0
a@
U.A.E
1079,8
1434,1
1636,0
1357,3
2158,5
1189,9
314,7
490,3
2633,7
2.397,1
4763,7
5021,5
7703,0
8731,0
9069,0
8812,0
9626,0
paba
OMANE
660,4
711,9
867,2
896,5
885,1
1003,2
1031,1
1272,0
1062,1
1257,4
1718,6
2356,3
3296,0
5009,0
4405,0
5200,0
4987,0
KUWAIT
232,1
290,2
307,1
278,7
305,5
306,5
254,6
393,5
488,8
489,3
518,5
879,9
1185,0
1552,0
1552,0
1410,0
1410,0
oa
QATAR
270,4
336,1
299,6
259,1
547,1
578,4
334,1
573,2
648,1
983,1
1526,9
1861,0
1792,0
1173,0
1173,0
6910,0
7448,0
BAHRIN
426k2
438,5
443,3
489,3
531,9
428,7
523,0
542,0
731,6
774,7
1045,7
1230,3
1714,0
1886,0
1886,0
2559,0
3918,0
zja
Totale
6255,0
7553,0
8110,4
6603,5
7982,2
7776,9
6394,6
7734,4
11780,0
14105,4
21630,4
26973,5
34656,0
40416,0
37163,0
45412,0
52065,0
a
131156,9
131156,9
131156,9
95998,0
118206,4
176045,8
160231,1
167640,9
213563,6
286419,8
281859,7
475586,0
555171,2
686943,0
457603,0
588814,0
811230,0
paba@bg@
Exp Totale@@
299
@@paa@bg@ja@paaa
2011M1995@@bna@@
@ @08@@Z@u
@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@Zya@
COUNTRY@@
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
K.S.A
752,6
891,2
882,3
1008,6
1090,0
1078,6
1214,1
1483,0
1688,0
2276,5
2728,8
3269,1
3852,5
4974,0
4679,0
5956,0
8569,0
a@
U.A.E
1070,1
1071,4
1181,0
1285,9
1326,2
1236,6
1478,9
1817,2
2023,8
2546,8
2906,8
4798,0
4855,0
6996,0
5864,0
6081,0
7576,0
paba
OMANE
1217,6
1282,5
1458,2
1640,4
1526,8
1673,0
1924,8
1993,1
1826,0
3010,8
2788,8
3342,1
4822,0
7175,0
5538,0
6797,0
8580,0
KUWAIT
753,7
805,7
872,8
820,7
795,2
851,4
877,9
988,4
1257,8
1685,5
1685,5
2467,3
2280,0
2667,0
2667,0
2526,0
2526,0
oa
QATAR
346,7
357,6
439,6
526,6
439,8
483,4
457,2
623,7
730,9
1102,6
1408,0
2159,5
3320,0
3996,0
3895,0
4273,0
4354,0
BAHRIN
316,5
301,5
324,6
334,0
353,7
377,7
398,9
497,3
578,7
696,5
738,0
976,2
1112,0
1112,0
1112,0
1041,0
1414,0
zja
Totale
4457,2
4709,9
5158,5
5616,2
5531,7
5700,7
6351,6
7402,7
8105,2
11318,7
12255,9
17012,1
20241,5
26920,0
23755,0
26674,0
33019,0
a
Imp Totale
83424,6
83424,6
83424,6
83876,7
72067,4
77286,5
82956,0
93892,8
110852,3
144541,8
176591,9
204232,4
270656,0
362424,0
292631,0
320583,0
379087,0
@paaa@bg@
300
ba@paaa
2011M1995@@bna@@@
09@@Z@u@
@ @@@@@Zya
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
@a
K.S.A
54873,2
54873,2
54873,2
37812,0
39321,1
68817,0
60842,0
56800,0
78133,0
104611,0
150489,3
179648,5
171413,4
293598,1
135948,0
197764,0
298077,0
a@
U.A.E
15300,7
15300,7
15300,7
11630,5
12181,9
20255,0
18688,0
15580,0
20984,0
25800,0
39184,5
54776,3
62287,3
117250,0
64098,0
80871,0
116019,0
paba
OMANE
5896,5
5896,5
5896,5
4801,8
4671,3
5956,0
6605,0
7827,0
8596,0
10508,0
11851,5
12951,6
15398,2
19866,6
17551,0
20589,0
32487,0
KUWAIT
14479,0
14479,0
14479,0
11837,0
9191,4
17084,0
16198,0
17556,0
20866,0
23540,0
42933,8
51908,9
63825,4
76376,0
64359,0
71687,0
101636,0
oa
QATAR
4049,7
4049,7
4049,7
4175,8
4195,9
6855,0
6251,0
8091,0
8438,0
15174,0
18045,3
23643,7
32376,4
37439,0
46468,0
42832,0
60400,0
BAHRIN
1808,8
1808,8
1808,8
1473,7
1838,0
2885,0
2678,0
2730,0
3047,0
3599,0
4445,2
4892,2
5416,6
7121,3
4543,1
5786,0
7505,0
zja
COUNTRY@@
a
Totale
301
ba@ba
2011M1995@@bna@@
10@@Z@u
@ @@@@Zya
@a
COUNTRY@
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
K.S.A
62993,3
60073,5
59084,6
50750,0
49024,3
60406,0
68037,0
62267,0
68533,0
76053,0
92393,1
104885,9
124332,8
138685,1
159049,0
174369,0
220453,0
a@
U.A.E
15695,2
14888,5
17533,3
19460,6
20221,9
22891,0
25993,0
23585,0
24914,0
26215,0
28435,7
34302,8
43492,2
74881,0
110170,0
89585,0
81163,0
paba
OMANE
7138,8
6541,2
6000,8
5777,9
5901,2
6908,0
7439,0
7645,0
8294,0
9909,0
10782,6
12303,0
15293,7
19320,4
19320,4
20712,0
27927,0
KUWAIT
16707,8
12940,8
12819,0
13050,9
13273,5
13071k0
10400,0
15615,0
16532,0
18740,0
27325,6
37738,4
41031,9
45195,0
45195,0
52255,0
60907,0
oa
QATAR
4391,5
3394,2
4971,7
4697,5
4841,2
5575,0
5633,0
6443,0
7422,0
9782,0
13947,2
18447,0
23324,2
31603,0
31603,0
39113,0
44996,0
BAHRIN
2009,0
1827,3
2141,8
1783,8
2193,4
2709,0
2760,0
2559,0
3603,0
3538,0
3428,7
4144,8
4835,2
5480,0
5538,0
7009,0
7588,0
zja
a
Totale
302
@ @05@Z@za
2011M@ 1995@@@bna@@@ja@paba@br@a@
a@a@wmba@i@a@m@wbn
@ @
@ @
@ @
@ @
303
@ @
@ @
@ @
@ @
@ @
304
@ @
2011M@ 1995@@@bna@@@ja@paaa@br@a@a@wmba@i@a@m@wbn
@ @
@ @
@ @
@ @
305
@ @
@ @2011M@ 1995@@@bna@@@ja@bvna@bg@br@a@a@wmba@i@a@m@wbn
@ @
@ @
@ @
@ @
@ @
306
2011M@ 1995@@@bna@@@bna@ana@pa@bjna@lbna@m@wbn
@ @
@ @
@ @
@ @
307
@ @
@ @
@ @
@ @
308
@ @06@Z@za
N2011M1995@@@bna@@i@ba@aa@@aa@pbbja@b M@ 01
@ @
@ @Zna@@pbbi
@N2011@ia@Lbg@b@a@a@@@ba@bna@bc@Za@a@
N2008@inc@La@bna@bc@pbbi@b@Za@a@
2005@Lva@bna@@@i@bna@pbbg@Zia@a@
2010@ia@Lba@bna@bc@Za@a@
2009@L44@La@na@La@ia@a@
@2012@Lb@@La@@Zba@bjb@
@2011@@Lau@@@La@@Zba@bjb@
@N2005@Z@Lya@ia@bna@na@Zia@a@
2005@L2004@L2003@L2002@L2001@ac@La@bja@bz@wa@@Zva@bna@na
2009@La@a@Llbna@pavn@Zva@bna@@@a@ba@y
2012@@Lsbra@a@Lbya@ag@@@@pba@@@Lbyg@@@Zva@bna@@@ba@ba
Zba@bc@pbbi
2013@L@a@pbbja@b@@Za@ia@a@
N2006@L@iaa@i@bya@a@Za@ia@a@
@ @Zba@paba@pbbi
N2013@La@pbbja@b@Zia@a@@
2010@@Lbra@a@Lbya@ag@@@@pba@@@Lbyg@@@Zva@bna@@@ba@ba
Zba@paaa@pbbi
L2013@La@pbbja@b@Zia@a@
Zja@paba@pbbi
@2006@@Lbya@ag@@pba@@Lbc@@a@a@paba@Zva@bna@
N2008@@Lpba@@@La@va@a@@Zva@bna@@@ba@ba
.2012@@Lsbra@a@Lbya@ag@@@@pba@@@Lbyg@@@Zva@bna@@@ba@ba
309
Zja@paaa@pbbi
@2006@@Lbya@ag@@pba@@Lbc@@a@a@paba@Zva@bna@
N2008@@Lpba@@@La@va@a@@Zva@bna@@@ba@ba
Gulf Investment Corporation, GCC Economic Statics, January2001.
@ @Zba@a@wmba@pbbi
N2005@Lva@bna@@@i@bna@pbbg@Zia@a@
@L2013@La@pbbja@b@Zia@a@
@L2005@Z@Lya@ia@bna@na@Zia@a@
2011@L2010@L2005@L2004@L2003@L2002@L2001@ac@La@bja@bz@wa@@Lva@bna@na
2011@L@ia@@bna@pabya@@Zia@a@
@ @Zba@a@wmba@g@aa@va@@c@ba@j@@pbbi
2011@L2010@L2006@L2003@@L2012@Zac@Lya@ia@bna@na@Zia@a@
@ @@Zba@a@wmba@g@ba@a@j@@pbbi
2006@L2011@L2012@L2003@Zac@Lya@ia@bna@na@Zia@a@
@ @2013@L@a@pbbi@b@Zia@a@
@2010@ia@@Na@L@@Zba@bjb@
2006@La@pbbi@b@Za@a@
@ @Zbi@a@@paa@jua@pbbnya@m@pbbi
2010@L2003@L2006@@L2011@Zac@Lya@ia@bna@na@Zia@a@
@ @@ba@paaa@pbbi
2010@@O@bra@aObra@a@Lbya@ag@@@@pba@@@Lbyg@@@Zva@bna@@@ba@ba
310
@ @@Zba@pba@pbbi
2010@L@bra@a@Lbya@ag@@@@pba@@@Lbya@@a@@Zva@bna@@@ba@ba
@ @.2011M1995@@@va bna@@i@ba@aa@pbbi@y@pby M@ 02
@pba@aa@pba@ba@ba@@ba@pbbja@c@@ba@n@a@@aa@@aa@pbbja@pba@@bjna
@ @@Naa@@a@m@va@bna@@@ibna@ba
Za@ba@wmba@@pbbja
@bc@m@@@b@ky@@@ 2000@@ 1993@@i@ a@n@@bjna@bibnya@@ 1996@@a@wmba@ pbbi@
@ @2011@ba@bna
@@@L@ 2011@L1996@L@ 1995@pa@pbbnybi@bnm@n@a@paaa@@a@@@pba@pbbja@m@@a
@ @Nm@@2011@@@na@2010@@pbbi@@vm@@b@Nm@@1996@1995@@@na@1997@@pbbi@@vm
Z@ba@pba@ba@paaa@@pbbja
@1997@@pbbi@@vm@@@ 1996@ 1995@@@ba@pba@ba@paaa@vy@@pba@pbbja@m@@a@
@@1996@@1995@@ba@wmba@@j@@aa@va@k@u@@Lm@@1996@1995@@@@paaa@@na
@1996@@pba@@vm@@b@bn@@Lna@ba@a@wmba@@@ba@na@@va@@lby@
Na@@na@@a@@na@ja@i@zz@pba@paaa@i@a@@@m@s@@1997@
Zba@bc@@pbbja
@@@paa@@ba@ bc@vm@@@ 2011@@ 2010@@ 2009@@ba@bc@@pba@pbbja@m@@a
@m@Npbbja@b@pm@a@a@brnbi@a@@@2008@L2007@L2006@L2005@@pbbj@iba@na@lby
@pa@ ba@ b@ iba@ na@ vm@ @ @ L1999@ L1998@ L1997@ L1996@ L1995@ pa@ bc@ ba@ bc@ @ pbbja
Nn@ob@a@zja@a@@ba@bc@@aa@pbbja@brnbi@a@@@@2004@L2003@@L2002@L2001@L2000
Zpaaa@paba@bg@@pbbja
@@pbbi@vm@@@Lbna@@@@@@@1997@@paaa@paba@bg@@pba@pbbja@m@@a
@N1996@@L1995@pbbj@iba@na@lby@@@1997
@Za@ba@wmba@g@ba@a@k@@pbbja
@pbbi@vm@@@ 2011@L2010@L2009@pa@a@ba@wmba@g@ba@a@k@@pba@pbbja@m@@a
@a@zja@oa@@brnbi@a@@@L2008@L2007@L2006@L2005@pa@iba@na@lby@@ba@paa@m
@ba@wmba@g@uba@ba@a@k@r@@b@aa@pbbja@@ob@a@b@@ 2011@ 2010@pbbi@b@pam
@L2001@ pa@ @ n@ bmbbi@ ob@ a@ L2004@ L2003@ L2002@ pa@ ba@ @ iba@ na@ vm@ bc@ @ b@ Na
Na@ba@wmba@g@ba@a@ki@n@b@iba@brna@o@jm@a@b@brnbi@2004@L2003@L2002
311
Za
@i@a@bna@ya@@g@aa@bna@lbvna@c@i@@va@bna@@@i@nm@@@
@L1981@@@bzn@a@m@m@a@aa@c@yc@bna@@@y@@bg@@b@Na@@
@ym@b@o@a@bna@ya@zn@|a@@b@Lpba@@a@@lbna@@b@a@m@pc@
@g@Lya@@@paba@c@a@a@a@ba@a@bvna@@bg@n@Lpaa@b@pbuba
@Lba@a@pba@@ia@pbya@bn@a@@a@nm@pbbna@m@bc@bby@ba@pbzna@c
Na@@@b@a@lbna@b@b@bna@ba@ana@u@@a@kbu@g
@ @.va@bna@@@Lbna@lbna@b@Lra@a@a@L@ya@a@Lbna@bna@Zybna@pba
Abstract:
The experience of the GCC countries is among the most important ones of the integrative efforts
to achieve economic and monetary union in a set of nations. The goal of establishing a common currency
for the GCC has been one of the most outstanding targets pursued by these countries since 1981, which
revealed some kind of convergence in many areas, and there is a clear path to accomplish the economic
and monetary union under the banner of needs unification and homogeneity of experience. Indeed, the
founding of free trade area, Customs Union and the Common Market are the most significant
achievements on the way of unity. However, the current challenges of these economies require further
efforts to complete the necessary reforms both in the monetary and financial fields, as well as lifting the
degree of political and economic commitment to meet the convergence criteria for the establishment of
the single currency zone..
Keywords : The economic integration, The common currency, The optimaL monetary zone, The economic
convergence, The Gulf Cooperation Council.
@
Rsum:
L'exprience des pays du CCG est parmi les plus importantes pour achever lintgration ncessaire
de la ralisation dune union conomique et montaire entre un groupe d'Etats. En en outre, L'objectif de
cration d'une monnaie commune pour les pays du CCG est lun des cibles primordiales que ces pays
voulaient atteindre depuis 1981. Dans ce cadre, ces pays ont montr une certaine convergence dans de
nombreux domaines, et la ou se consolide le but de ralisation de l'union conomique et montaire, sous
la bannire des besoins d'unification et d'homognit de l'exprience. En plus, l'tablissement d'une zone
commerciale libre, une union douanire et un march commun sont les ingrdients indispensables sur le
chemin de l'unit, mais les dfis actuels que ces conomies doivent faire face demandent des efforts
supplmentaires pour mener bien les rformes ncessaires dans les domaines de la politique montaire et
financire, ainsi que la leve du degr d'engagement politique et conomique afin de rpondre aux critres
de convergence pour l'tablissement d'une zone de la monnaie unique.
mots cls : L'intgration conomique, la monnaie unique, la zone montaire optimale, La convergence
conomique, Conseil de cooperation du Golf.

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