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The Macroeconomics of Workers’ Remittances in GCC Countries

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  • Brahim Razgallah

    (Arab Monetary Fund)

Abstract

The paper investigates the macroeconomic effects of workers’ remittances on the economies of the Gulf Cooperation Council. The theoretical Dutch Disease model is augmented in order to take into account migration and remittances, and the paper shows that workers’ remittances from the Gulf dampen the appreciation of the real exchange rate led by the boom in oil resources.

Suggested Citation

  • Brahim Razgallah, 2008. "The Macroeconomics of Workers’ Remittances in GCC Countries," Working Papers 410, Economic Research Forum, revised 06 Jan 2008.
    • Handle: RePEc:erg:wpaper:410
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    References listed on IDEAS

    as
    1. Hamid Faruqee, 1995. "Long-Run Determinants of the Real Exchange Rate: A Stock-Flow Perspective," IMF Staff Papers, Palgrave Macmillan, vol. 42(1), pages 80-107, March.
    2. Corden, W Max & Neary, J Peter, 1982. "Booming Sector and De-Industrialisation in a Small Open Economy," Economic Journal, Royal Economic Society, vol. 92(368), pages 825-848, December.
    3. Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72(6), pages 584-584.
    4. Corden, W M, 1984. "Booming Sector and Dutch Disease Economics: Survey and Consolidation," Oxford Economic Papers, Oxford University Press, vol. 36(3), pages 359-380, November.
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    Cited by:

    1. Virginie Coudert & Cécile Couharde & Valérie Mignon, 2011. "Does Euro or Dollar Pegging Impact the Real Exchange Rate? The Case of Oil and Commodity Currencies," The World Economy, Wiley Blackwell, vol. 34(9), pages 1557-1592, September.
    2. Marzovilla, Olga, 2010. "The impact of global economic imbalance on migrant workers and economies of the Gulf Cooperation Council," MPRA Paper 29466, University Library of Munich, Germany.

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