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Record Nr. |
UNINA9910961918203321 |
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Autore |
Ilahi Nadeem |
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Titolo |
Do the Gulf Oil-Producing Countries Influence Regional Growth? The Impact of Financial and Remittance Flows / / Nadeem Ilahi, Riham Shendy |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2008 |
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ISBN |
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9786612841187 |
9781462385058 |
1462385052 |
9781452747064 |
1452747067 |
9781451870251 |
1451870256 |
9781282841185 |
1282841181 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (19 p.) |
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Collana |
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IMF Working Papers |
IMF working paper ; ; WP/08/167 |
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Altri autori (Persone) |
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Disciplina |
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Soggetti |
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Petroleum industry and trade |
Capacity |
Capital |
Consumption |
Economics |
Emerging and frontier financial markets |
Energy: Demand and Supply |
Exports and Imports |
Finance |
Finance: General |
Financial services industry |
General Financial Markets: General (includes Measurement and Data) |
Intangible Capital |
International economics |
International finance |
Investment |
Investments: General |
Macroeconomics |
Macroeconomics: Consumption |
Oil prices |
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Prices |
Private consumption |
Private investment |
Remittances |
Saving and investment |
Saving |
Wealth |
United States |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Contents; I. Introduction; II. Background; III. Hypotheses and Empirical Specification; IV. Data and Summary Statistics; Figures; 1. Output-Weighted GDP Growth Rates; Tables; 1. Summary Statistics; V. Estimation Results; 2. Ratio of GCC Current Account Surpluses to Combined Regional (non-GCC) GDP; 2. Regional Countries GDP Growth Regression; 3. Regional Countries Private Consumption Growth Regression; VI. Conclusion; 4. Regional Countries private Investment Growth Regressions; Appendix; Data Sources and Description; References |
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Sommario/riassunto |
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This paper tests the association between the Gulf Cooperation Council (GCC) countries' financial and remittance outflows and regional growth in the Middle East. The findings, based on 35-year panel data, indicate that growth rates of real GDP, private consumption and private investment in regional countries are strongly associated with remittance outflows from and the accumulation of financial surpluses in the GCC. Unlike in other developing and emerging market countries, growth in regional countries is not influenced by growth in the North, and is not export led. Linkages with the GCC could help sustain output growth in the regional countries in the face of the global economic slowdown and oil price shocks and could provide diversification gains to international capital seeking markets uncorrelated with Northern and emerging market countries. |
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