Naufal, George S.; Termos, Ali - In: OPEC Energy Review 33 (2009) 3-4, pp. 184-197
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...