Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/39881 
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dc.contributor.authorHammoudeh, Shawkaten
dc.contributor.authorSari, Ramazanen
dc.contributor.authorAlesia, Eisaen
dc.date.accessioned2010-09-13T14:37:05Z-
dc.date.available2010-09-13T14:37:05Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/39881-
dc.description.abstractGiven the secrecy that wraps the flows of the GCC countries' petrodollar surpluses to the United States and the pressures on these countries to spend and recycle more, this study attempts to uncover the direct and reverse causal relationships between the GCC financial accounts and the US current account deficit. It examines whether the GCC petrodollar surpluses are a global savings glut (an external factor) that causes the US current account deficit or in contrary this deficit is home-grown and the petrodollar savings glut hypothesis does not hold. It particularly focuses on world's largest oil exporter to find out if the homegrown deficit hypothesis for the world's largest oil consumer holds. It also investigates which types of investments or components of GCC financial accounts help cause the US deficit the most. The implications and policy recommendations for this growing source of global external imbalances are also provided.en
dc.language.isoengen
dc.publisher|aVerein für Socialpolitik, Ausschuss für Entwicklungsländer |cGöttingenen
dc.relation.ispartofseries|aProceedings of the German Development Economics Conference, Zürich 2008 |x38en
dc.subject.jelF21en
dc.subject.ddc330en
dc.subject.keywordCapital accounten
dc.subject.keywordFinancial accounten
dc.subject.keywordDirect and reverse causalityen
dc.titleDo Oil-Rich GCC Countries Finance US Current Account Deficit?-
dc.typeConference Paperen
dc.identifier.ppn654090572en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:gdec08:38en

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