Publications List

Home >Publications >Publications List

Share on:

Financial Aspects of GCC Unification Efforts

  • Eckart Woertz
Publisher: Gulf Research Center
Date of Publication: Aug 2014
Publications Categories: Gulf Papers


Economic growth in the GCC countries has been high over the last decade and has been comparable to growth in the emerging markets and considerably higher than in the world at large. In order to maintain such growth, the GCC requires a developed financial sector based on strong regulatory institutions. For the moment, however, the GCC financial sector is characterized by a lack of bond and derivative markets, difficult access to credit for small and middle enterprises (SMEs), dominance of international banks in the project finance market, and heavily concentrated equity markets in terms of sectors and ownership. In order to overcome such present shortcomings in the GCC financial sector and to fully capitalize on the benefits of greater integration, the GCC states need to increase liquidity and diversity of their capital markets, facilitate cross-border trading of securities, foster a nascent institutional investor class and, above all, strengthen and unify regulatory frameworks. Together, this will be an important component of a more effective and stronger GCC union.

Other Publications

Kingdom of Saudi Arabia - Foreign Trade and FDI Report
Nov 2016
Kingdom of Saudi Arabia: Foreign Trade and FDI Report
May 2014
Will Stabilisation Limit Protectionism? The 4th GTA Report
Feb 2010
Implications of Dubai's Debt Troubles
Dec 2009
Potential for GCC Agro-Investments in Africa and Central Asia
Feb 2009