05409oam 22012974 450 991096191820332120250426110452.0978661284118797814623850581462385052978145274706414527470679781451870251145187025697812828411851282841181(CKB)3170000000055064(EBL)1607935(SSID)ssj0000944018(PQKBManifestationID)11528591(PQKBTitleCode)TC0000944018(PQKBWorkID)10982526(PQKB)11724877(OCoLC)468812338(IMF)WPIEE2008167(MiAaPQ)EBC1607935(IMF)WPIEA2008167WPIEA2008167(EXLCZ)99317000000005506420020129d2008 uf 0engur|n|---|||||txtccrDo the Gulf Oil-Producing Countries Influence Regional Growth? The Impact of Financial and Remittance Flows /Nadeem Ilahi, Riham Shendy1st ed.Washington, 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.9781451914788 1451914784 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 tradeCapacityimfCapitalimfConsumptionimfEconomicsimfEmerging and frontier financial marketsimfEnergy: Demand and SupplyimfExports and ImportsimfFinanceimfFinance: GeneralimfFinancial services industryimfGeneral Financial Markets: General (includes Measurement and Data)imfIntangible CapitalimfInternational economicsimfInternational financeimfInvestmentimfInvestments: GeneralimfMacroeconomicsimfMacroeconomics: ConsumptionimfOil pricesimfPricesimfPrivate consumptionimfPrivate investmentimfRemittancesimfSaving and investmentimfSavingimfWealthimfUnited StatesimfPetroleum industry and trade.CapacityCapitalConsumptionEconomicsEmerging and frontier financial marketsEnergy: Demand and SupplyExports and ImportsFinanceFinance: GeneralFinancial services industryGeneral Financial Markets: General (includes Measurement and Data)Intangible CapitalInternational economicsInternational financeInvestmentInvestments: GeneralMacroeconomicsMacroeconomics: ConsumptionOil pricesPricesPrivate consumptionPrivate investmentRemittancesSaving and investmentSavingWealth338.27282Ilahi Nadeem1815986Shendy Riham1811520DcWaIMFBOOK9910961918203321Do the Gulf Oil-Producing Countries Influence Regional Growth? The Impact of Financial and Remittance Flows4372537UNINA