While remittances from the GCC countries to Asia slowed down during the crisis, there is no evidence of large decreases. On the other hand, remittances to several MENA countries decreased during 2009, but the evidence for 2010 suggests a reversal of this pattern. Most of the recent labour...

We examine the effect of remittance outflows on inflation in the remitting countries. The growth of remittance outflows depresses inflation rate.

In the last two decades remittances have gained interest due to their large size. For several developing countries remittances constitute a large portion of their GDP and sometimes exceed FDI. While FDIs are usually profit driven, it is not clear what the driving force behind remittances is....

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...

After independence, the GCC countries relied heavily on foreign workers from fellow Arab countries. Thus, remittances flowed from GCC to other countries in MENA. In the 1980s-1990s labor source switched to South Asia; so did the flow of remittances. This paper examines the consequences of the...

"This book examines the flows of people and money in the Gulf Cooperation Council (GCC) countries. The book outlines the reasons that made the Gulf region a destination for millions of migrants. Taking advantage of the discovery of large hydrocarbon reserves and relatively stable political...

The strong economic ties between the GCC economies and the U.S. are manifested in three ways: currency peg, coupling of monetary policy, and the adoption of the U.S. dollar as the trading currency for oil. This paper examines how these dynamics result in a misalignment of the U.S. monetary...