05190oam 22012014 450 991078823430332120230721045639.01-4623-8505-21-4527-4706-71-4518-7025-61-282-84118-19786612841187(CKB)3170000000055064(EBL)1607935(SSID)ssj0000944018(PQKBManifestationID)11528591(PQKBTitleCode)TC0000944018(PQKBWorkID)10982526(PQKB)11724877(OCoLC)468812338(MiAaPQ)EBC1607935(IMF)WPIEE2008167(EXLCZ)99317000000005506420020129d2008 uf 0engur|n|---|||||txtccrDo the Gulf Oil-Producing Countries Influence Regional Growth? The Impact of Financial and Remittance Flows /Nadeem Ilahi, Riham ShendyWashington, D.C. :International Monetary Fund,2008.1 online resource (19 p.)IMF Working PapersIMF working paper ;WP/08/167Description based upon print version of record.1-4519-1478-4 Includes bibliographical references.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; ReferencesThis 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.IMF Working Papers; Working Paper ;No. 2008/167Petroleum industry and tradeExports and ImportsimfFinance: GeneralimfInvestments: GeneralimfMacroeconomicsimfRemittancesimfEnergy: Demand and SupplyimfPricesimfMacroeconomics: ConsumptionimfSavingimfWealthimfGeneral Financial Markets: General (includes Measurement and Data)imfInvestmentimfCapitalimfIntangible CapitalimfCapacityimfInternational economicsimfFinanceimfOil pricesimfPrivate consumptionimfEmerging and frontier financial marketsimfPrivate investmentimfInternational financeimfConsumptionimfEconomicsimfFinancial services industryimfSaving and investmentimfUnited StatesimfPetroleum industry and trade.Exports and ImportsFinance: GeneralInvestments: GeneralMacroeconomicsRemittancesEnergy: Demand and SupplyPricesMacroeconomics: ConsumptionSavingWealthGeneral Financial Markets: General (includes Measurement and Data)InvestmentCapitalIntangible CapitalCapacityInternational economicsFinanceOil pricesPrivate consumptionEmerging and frontier financial marketsPrivate investmentInternational financeConsumptionEconomicsFinancial services industrySaving and investment338.27282Ilahi Nadeem1485181Shendy Riham1471755DcWaIMFBOOK9910788234303321Do the Gulf Oil-Producing Countries Influence Regional Growth? The Impact of Financial and Remittance Flows3704172UNINA