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The nexus between remittance outflows and growth: A study of Saudi Arabia

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  • Alkhathlan, Khalid A.
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    Abstract

    In this study, the autoregressive distributed lag (ARDL) and the error correction model (ECM) techniques were applied to empirically examine the relationship between economic growth and outflows of workers' remittances in Saudi Arabia from 1970 to 2010. The results show that there is a negative but statistically insignificant relationship between outflows of workers' remittances and economic growth in the long term. However, there is a negative and statistically significant relationship between workers' remittances and economic growth in the short term. To decrease workers' remittances, Saudi Arabia must find appropriate new channels to convince foreign workers to consume and invest their money in the country. The roles of government expenditures and exports in the economic growth of Saudi Arabia were also investigated. The amount of government expenditures and the value of exports were found to have positive and significant effects on economic growth in Saudi Arabia.

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    Bibliographic Info

    Article provided by Elsevier in its journal Economic Modelling.

    Volume (Year): 33 (2013)
    Issue (Month): C ()
    Pages: 695-700

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    Handle: RePEc:eee:ecmode:v:33:y:2013:i:c:p:695-700

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    Web page: http://www.elsevier.com/locate/inca/30411

    Related research

    Keywords: Workers' remittances; GDP; Government expenditure; Export; INF; ARDL;

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    1. Ralph Chami & Connel Fullenkamp & Samir Jahjah, 2005. "Are Immigrant Remittance Flows a Source of Capital for Development?," IMF Staff Papers, Palgrave Macmillan, vol. 52(1), pages 55-81, April.
    2. Singh, Bhupal, 2006. "Worker’s remittances as stable financial flows: some evidence from India," MPRA Paper 22225, University Library of Munich, Germany.
    3. Carlos Vargas-Silva & Peng Huang, 2005. "Macroeconomic Determinants of Workers’ Remittances: Host vs. Home Country’s Economic Conditions," International Finance 0507007, EconWPA, revised 29 Jul 2005.
    4. Desai, Mihir A. & Kapur, Devesh & McHale, John & Rogers, Keith, 2009. "The fiscal impact of high-skilled emigration: Flows of Indians to the U.S," Journal of Development Economics, Elsevier, vol. 88(1), pages 32-44, January.
    5. Ketkar, Suhas & Ratha, Dilip, 2001. "Development financing during a crisis : securitization of future receivables," Policy Research Working Paper Series 2582, The World Bank.
    6. Ozturk, Ilhan & Acaravci, Ali, 2013. "The long-run and causal analysis of energy, growth, openness and financial development on carbon emissions in Turkey," Energy Economics, Elsevier, vol. 36(C), pages 262-267.
    7. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    8. World Bank, 2011. "World Development Indicators 2011," World Bank Publications, The World Bank, number 2315, October.
    9. Kuckulenz, Anja & Buch, Claudia M., 2004. "Worker Remittances and Capital Flows to Developing Countries," ZEW Discussion Papers 04-31, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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