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http://hdl.handle.net/10419/35391
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| Title: | | The responsiveness of remittances to the oil price: the case of the GCC  |
| Authors: | | Naufal, George S. Termos, Ali |
| Issue Date: | | 2009 |
| Series/Report no.: | | IZA Discussion Papers 4277 |
| Abstract: | | We investigate the responsiveness of remittances from the Gulf Cooperation Council (GCC) countries to the changes in the price of crude oil. Most of the GCC countries rank in the top 20 remitting countries in the world. We find that oil price elasticity of remittances is around 0.4. While most studies have examined the impact of remittances on the real economic activities in the receiving countries, this study emphasises the impact of remittances on the remitting countries. We examine various policy implications with regard to macroeconomic shocks, monetary policy and fiscal policy of the GCC countries. |
| Subjects: | | Elasticity remittances oil price GCC |
| JEL: | | F24 P22 N15 |
| Persistent Identifier of the first edition: | | urn:nbn:de:101:1-2009082062 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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