Does inflation reduce remittance outflows in Saudi Arabia?

References

• Abdel‐Rahman, A.-M.-M. (2006). The determinants of foreign worker remittances in the Kingdom of Saudi Arabia. Journal of King Saud University, 18(2), 93–23. https://cba.ksu.edu.sa/sites/cba.ksu.edu.sa/files/imce_images/lbhth_lthlth_mn_mjld_18dd2.pdf
   Google Scholar
• Aggarwal, R., Demirgüç-Kunt, A., & Peria, M. S. M. (2011). Do remittances promote financial development? Journal of Development Ecomomics, 96(2), 255–264. http://www.sciencedirect.com/science/article/pii/S0304387810001161
   Web of Science ®Google Scholar
• Ahmed, J., & Inmaculada, M.-Z. (2014). What drives bilateral remittances to Pakistan? A gravity model approach. Centre for European Governance and Economic Development. ECONSTOR. https://www.econstor.eu/bitstream/10419/97486/1/786982659.pdf
   Google Scholar
• Al-Abdulrazag, B. (2018). The impact of remittances on the import demand function in Jordan: An ARDL bounds testing approach. European Scientific Journal, ESJ, 14(10), 304. https://doi.org/10.19044/esj.2018.v14n10p304
   Google Scholar
• Al-Abdulrazag, B., & Abdel-Rahman, A.-M.-M. (2016). Remittances and financial development in a Host Economy: The case of the Kingdom of Saudi Arabia. International Review of Management and Business Research, 5(3), 1134–1150. https://www.irmbrjournal.com/papers/1475479828.pdf
   Google Scholar
• Al-Kaabi, F. (2016). The nexus between remittance outflows and GCC growth and inflation. Journal of International Business and Economics, 4(1), 76–85. https://doi.org/10.15640/jibe.v4n1a7
   Google Scholar
• Alkhathlan, K. A. (2013). The nexus between remittance outflows and growth: A study of Saudi Arabia. Economic Modelling, 33, 695–700. https://doi.org/10.1016/j.econmod.2013.05.010
   Web of Science ®Google Scholar
• Allen, D. S., & Ndikumana, L. (2000). Financial intermediation and economic growth in Southern Africa. Journal of African Economies, 9(2), 132–160. https://doi.org/10.1093/jae/9.2.132
   Web of Science ®Google Scholar
• Aslam, A. L. M., & Selliah, S. (2020). Empirical relationship between workers' remittances and financial development (an ARDL cointegration approach for Sri Lanka). International Journal of Social Economics, Emerald Group Publishing, 47(11), 1381–1402. https://doi.org/10.1108/IJSE-03-2020-0157
   Google Scholar
• Asteriou, D., & Hall, S. G. (2007). Applied econometrics: A modern approach. PALGRAVE MACMILLAN.
   Google Scholar
• Balderas, J. U., & Nath, H. K. (2008). Inflation and relative price variability in Mexico: The role of remittances. Applied Economics Letters, 15(3), 181–185. https://doi.org/10.1080/13504850600722070
   Web of Science ®Google Scholar
• Barua, S., Majumdar, M. D., & Akhtaruzzaman, M. (2007). Determinants of workers’ remittances in Bangladesh: An empirical study. Bangladesh Bank Working Paper WP 0713. Munich Personal RePEc Archive Available Online at: https://mpra.ub.uni-muenchen.de/15080/
   Google Scholar
• Bettin, G., Presbitero, A. F., & Spatafora, N. (2017). Remittances and vulnerability in developing countries. IMF Working Paper WP/14/13. World Bank Economic Review Available online at : https://doi.org/10.1093/wber/lhv053
   Google Scholar
• Boon, T. H. (2000). Saving, investment and capital flows: An empirical study on the ASEAN economies. In Chapter 3 in ASEAN in an interdependent world (1st) ed.) (pp.13). Routledge.
   Google Scholar
• Bouoiyour, J., Selmi, R., & Miftah, A. (2019). The relationship between remittances and macroeconomic variables in times of political and social upheaval: Evidence from Tunisia’s Arab spring. Economics of Transition and Institutional Change, 27(2), 355–394. https://doi.org/10.1111/ecot.12199
   Google Scholar
• Cazachevici, A., Havranek, T., & Horvath, R. (2020) Remittance and economic growth: A meta-analysis. World Development, 134 Article 105021, 105021. https://doi.org/10.1016/j.worlddev.2020.105021
   Web of Science ®Google Scholar
• Chami, R., Fullenkamp, C., & Jahjah, S. (2005). Are immigrant remittance flows a source of capital for development? IMF Staff Papers, 52(1), 55–81. https://doi.org/10.5089/9781451859638.001
   Google Scholar
• De, S., Quayyum, S., Schuettler, K., & Yousefi, S. R. (2019). Oil prices, growth, and remittance outflows from the Gulf Cooperation Council. Economic Notes, 48(3), e12144. https://doi.org/10.1111/ecno.12144
   Web of Science ®Google Scholar
• Desai, M. A., Kapur, D., McHale, J., & Rogers, K. (2009). The fiscal impact of high-skilled emigration: Flows of Indians to the U.S. Journal of Development Economics, 88(1), 32–44. https://doi.org/10.1016/j.jdeveco.2008.01.008
   Web of Science ®Google Scholar
• Ebeke, C. (2011). Remittances, countercyclicality, openness and government size. Recherches Économiques De Louvain/Louvain Economic Review, 77(4), 89–114. https://doi.org/10.3917/rel.774.0089
   Google Scholar
• Edrees, A. (2016). The impact of foreign workers, outflow remittances on economic growth in selected GCC countries: ARDL approach. Arabian Journal of Business and Management Review, 6(5), 1–4. https://doi.org/10.4172/2223-5833.1000250
   Google Scholar
• El-Sakka, M. I. T., & Mcnabb, R. (1999). The macroeconomic determinants of emigrant remittances. World Development, 27(8), 1493–1502. https://doi.org/10.1016/S0305-750X(99)00067-4
   Web of Science ®Google Scholar
• Enders, C. K. (2003). Performing Multivariate Group Comparisons Following a Statistically Significant MANOVA. (Methods, Plainly Speaking). Measurement and Evaluation in Counseling and Development, 36, 40–56. https://doi.org/10.1080/07481756.2003.12069079
   Web of Science ®Google Scholar
• Engle, R. F., & Granger, C. W. J. (1987). Cointegration and error correction representation: Estimation and testing. Econometrica, 55(2), 251–276. https://doi.org/10.2307/1913236
   Web of Science ®Google Scholar
• Ezeoha, A. E. (2013). Financial determinants of international remittance flows to the Sub-Saharan African region. International Migration, 51, e84–e97 . https://doi.org/10.1111/imig.12061
   Web of Science ®Google Scholar
• Fawad, A. (2013). The effect of oil prices on unemployment: Evidence from Pakistan. Business and Economics Research Journal, 4(1), 43–57. http://www.berjournal.com/
   Google Scholar
• General Authority for Statistics (GaStat). 2019. “The Statistical Yearbook, 2019 A.D (1440/1441 A.H).” https://www.stats.gov.sa/en/25
   Google Scholar
• Granger, C. W. J. (1981). Some properties of time series data and their use in econometric model specification. Journal of Econometrics, 16, 121–130. https://doi.org/10.1016/0304-4076(81)90079-8
   Web of Science ®Google Scholar
• Gupta, S., Pattillo, C. A., & Wagh, S. (2009). Effect of remittances on poverty and financial development in Sub-SaharanAfrica. World Development, 37(1), 104–115. https://doi.org/10.1016/j.worlddev.2008.05.007
   Web of Science ®Google Scholar
• Haddad, H. B., & Choukir, J. (2017). Short- and long-run effects of remittance outflow shocks on the Saudi Arabian economy. International Journal of Economics and Business Research, 14(2), 194–213. https://doi.org/10.1504/ijebr.2017.10007794
   Google Scholar
• Iqbal, J., Nosheen, M., & Javed, A. (2013). The nexus between foreign remittances and inflation: Evidence from Pakistan. Pakistan Journal of Social Sciences, 33(2), 331–342. https://www.researchgate.net/publication/284351087_The_Nexus_between_Foreign_Remittances_and_Inflation_Evidence_from_Pakistan
   Google Scholar
• Janesh, S. (2013). Remittances, banking sector development and economic growth in Fiji. International Journal of Economics and Financial Issues, 3(2), 503–511. https://www.econjournals.com/index.php/ijefi/article/view/275
   Google Scholar
• Javid, M., & Hasanov, F. J. (2022). Determinants of remittance outflows: The case of Saudi Arabia. The King Abdullah Petroleum Studies and Research Center (KAPSARC). IDEAS. https://ideas.repec.org/p/prc/dpaper/ks–2022-dp05.html
   Google Scholar
• Johansen, S. (1988). Statistical Analysis of Cointegration Vectors. Journal of Economic Dynamics and Control, 12(2–3), 231–254. https://doi.org/10.1016/0165-1889(88)90041-3
   Web of Science ®Google Scholar
• Johansen, S. (1991). Estimation and hypothesis testing of cointegration vectors in Gaussian vector autoregressive models. Econometrica, 59(6), 1551–1580. https://doi.org/10.2307/2938278
   Web of Science ®Google Scholar
• Johansen, S., & Juselius, K. (1990). Maximum likelihood estimation and inference on cointegration with applications to the demand for money. Oxford Bulletin of Economics and Statistics, 52(2), 169–210. https://doi.org/10.1111/j.1468-0084.1990.mp52002003.x
   Web of Science ®Google Scholar
• Kadozi, E. (2019) Remittance inflows and economic growth in Rwanda. Research in Globalization, 1 Article 100005, 100005. https://doi.org/10.1016/j.resglo.2019.100005
   Google Scholar
• Khan, Z. S., & Islam, S. (2013). The effects of remittances on inflation: Evidence from Bangladesh. Journal of Economics and Business Research, 19(2), 198–208. https://www.econbiz.de/Record/the-effects-of-remittances-on-inflation-evidence-from-bangladesh-khan-zakir-saadullah/10009756209
   Google Scholar
• Kumar, R. R. (2012). Role of trade openness, remittances, capital inflows, and financial development in Vanuatu: Migration and remittances during the global financial crisis and Beyond (pp. 325–333). World Bank.
   Google Scholar
• Kumar, B. (2021). Construction of household welfare index and welfare impact of international remittances in Rural Bangladesh. Preprints 2021, 20210505512021050551. Preprints. https://doi.org/10.20944/preprints202105.
   Google Scholar
• Lastovetska, R. (2017). Mechanisms of remittances influence on the economy of Ukraine. Handel Wewnetrzny, 366(1), 30–40. https://www.ceeol.com/search/article-detail?id=543968
   Google Scholar
• Lianos, T. P. (1997). Factors determining migrant remittances: The case of Greece. International Migration Review, 31(1), 72–87. https://doi.org/10.1177/019791839703100104
   PubMed Web of Science ®Google Scholar
• Lueth, E., & Ruiz-Arranz, M. (2006). A gravity model of workers’ remittances. IMF Working Paper WP/06/290. International Monetary Fund. https://www.imf.org/external/pubs/ft/wp/2006/wp06290.pdf
   Google Scholar
• Mahmoudinia, D., Amroabadi, B. S., Pourshahabi, F., & Jafari, S. (2013). Oil products consumption, electricity consumption-economic growth nexus in the economy of Iran: A bounds testing cointegration approach. International Journal of Academic Research in Business and Social Sciences, 3(1), 353. https://hrmars.com/index.php/IJARBSS/article/view/9433/Oil-products-Consumption-Electricity-Consumption-Economic-growth-Nexus-in-the-Economy-of-Iran-A-Bounds-Testing-Co-integration-Approach
   Google Scholar
• Makhlouf, F., & Kasmaoui, K. (2017). The impact of oil price on remittances: The case of Morocco. The Journal of Energy and Development, 43(1/2), 239–310. https://www.researchgate.net/publication/329738944_The_impact_of_oil_price_on_remittances_The_case_of_Morocco
   Google Scholar
• Meyer, D., & Shera, A. (2017). The impact on economic growth: An econometric model. Economia, 18(2), 147–155. https://doi.org/10.1016/j.econ.2016.06.001
   Google Scholar
• Moftah, N. A., & Dilek, S. (2021). Toda-Yamamotto causality test between energy consumption and economic growth: Evidence from a panel of Middle Eastern Countries. Journal of Empirical Economics and Social Sciences, 3(1), 56–78. http://dx.doi.org/10.46959/jeess.651976
   Google Scholar
• Narayan, P. K. (2005). The saving and investment nexus for China: Evidence from cointegration tests. Applied Economics, 37(17), 1979–1990. https://doi.org/10.1080/00036840500278103
   Web of Science ®Google Scholar
• Narayan, P. K., Narayan, S., & Mishra, S. (2011). Do remittances induce inflation? Fresh evidence from developing countries. Southern Economic Journal, 77(4), 914–933. https://doi.org/10.4284/0038-4038-77.4.914
   Web of Science ®Google Scholar
• Naufal, G., & Genc, I. (2018). Impact of remittance outflows on sending economies: The case of the Russian Federation. Asia-Pacific Population Journal, 32(2), 61–85. https://doi.org/10.18356/f61bc783-en
   Google Scholar
• Naufal, G., & Termos, A. (2009). The responsiveness of remittances to price of oil: The case of the GCC. OPEC Energy Review, 33(3–4), 184–197. https://doi.org/10.1111/j.1753-0237.2009.00166.x
   Google Scholar
• Nkoro, E., & Uko, A. K. (2016). Autoregressive Distributed Lags (ARDL) cointegration technique: Application and interpretation. Journal of Statistical and Econometric Methods, 5(4), 63–91. http://www.scienpress.com/Upload/JSEM%2fVol%205_4_3.pdf
   Google Scholar
• Opperman, P., & Adjasi, C. K. D. (2019). Remittance volatility and financial sector development in sub-Saharan African countries. Journal of Policy Modeling, 41(2), 336–351. https://doi.org/10.1016/j.jpolmod.2018.11.001
   Web of Science ®Google Scholar
• Osterwald Lenum, M. (1992). A Note with Quantiles of the Asymptotic Distribution of the Maximum Likelihood Cointegration Rank Test Statistics1. Oxford Bulletin of Economics and Statistics, 54, 461–472. https://doi.org/10.1111/j.1468-0084.1992.tb00013.x
   Web of Science ®Google Scholar
• Panda, D. P., & Trivedi, P. (2015). Macroeconomic determinants of remittances. Journal of International Economics, 6(2), 83–100. https://www.proquest.com/docview/1790896535?parentSessionId=w8OsOfuKieGED3IXDdKkMEo0dSwl6AVkvjUZbAysKxA%3D
   Google Scholar
• Pesaran, M. H., Shin, Y., & Smith, R. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616
   Web of Science ®Google Scholar
• Rahmouni, O., & Debbiche, I. (2017). The effects of remittances outflow on economic growth in Saudi Arabia: Empirical evidence. Journal of Economics and International Finance, 9(5), 36–43. https://doi.org/10.5897/JEIF2017.0828
   Google Scholar
• Rao, B. B., & Hassan, G. M. (2011). A panel data analysis of the growth effects of remittances. Economic Modelling, 28(1–2), 701–709. https://doi.org/10.1016/j.econmod.2010.05.011
   Web of Science ®Google Scholar
• Rapoport, H., & Docquier, F. (2005). The Economics of Migrants’ Remittances. IZA DP No. 1531. http://dx.doi.org/10.2139/ssrn.690144
   Google Scholar
• Ratha, D., Scheuttler, K., & Yousefi, S. R. (2015). Will falling oil prices lead to a decline in outward remittances from GCC countries. In L. Mottaghi & S. Devarajan (Eds.), Annex 1 in Plunging oil prices. MENA Quarterly Economic Brief (pp. 26–28). Washington, DC: World Bank. https://blogs.worldbank.org/peoplemove/will-falling-oil-prices-lead-decline-outward-remittances-gcc-countries
   Google Scholar
• Salameh, H., & Aldaarmi, A. (2019). Is outflow of workers’ remittances affecting the Kingdom of Saudi Arabia’s economy in the long run? Journal of Economic Issues, 13(2), 5–13. https://www.researchgate.net/publication/340580301_
   Google Scholar
• Sayan, S. (2004). Guest workers’ remittances and output fluctuations in Host and Home Countries: The case of remittances from Turkish workers. Emerging Markets Finance and Trade, 40(6), 70–84. https://doi.org/10.1080/1540496X.2004.11052590
   Web of Science ®Google Scholar
• Shahbaz, M., Zeshan, M., & Afza, T. (2012). Is energy consumption effective to spur economic growth in Pakistan? New evidence from bounds test to level relationships and Granger causality tests. Economic Modelling, 29(6), 2310–2319. https://doi.org/10.1016/j.econmod.2012.06.027
   Web of Science ®Google Scholar
• Swamy, G. (1981). International migrant workers’ remittances: Issues and prospects. The World Bank Staff Working Paper. https://www.oecd.org/els/mig/38840502.pdf
   Google Scholar
• Taghavi, M. (2012) The impact of workers’ remittances on macro indicators: The case of the gulf cooperation council. Topics in Middle Eastern and North African economies. Electronic Journal. 14 Middle East Economic Association and Loyola University Chicago. http://www.luc.edu/orgs/meea/
   Google Scholar
• Termos, A., Naufal, G., & Genc, I. (2013). Remittance outflows and inflation: The case of the GCC countries. Economics Letters, 120(1), 5–47. https://doi.org/10.1016/j.econlet.2013.03.037
   Web of Science ®Google Scholar
• Toda, H., & Phillips, P. (1993). Vector Autoregressions and causality. Econometrica, 61(6), 1367–1393. https://doi.org/10.2307/2951647
   Web of Science ®Google Scholar
• Toda, H. Y., & Yamamoto, T. (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of Econometrics, 66(1–2), 225–250. https://doi.org/10.1016/0304-4076(94)01616-8
   Web of Science ®Google Scholar
• Umoru, D., & Tizhe, N. A. (2014). Causality dynamics between money supply and inflation in Nigeria: A Toda-Yamamoto test and error correction analysis. Journal of Empirical Economics, 3(2)63–75. https://ideas.repec.org/a/rss/jnljee/v3i2p2.html
   Google Scholar
• World Energy Outlook. (2019). Data and Statistics: https://webstore.iea.org/world-energy-outlook-2019
   Google Scholar
• World Migration report., 2020: https://publications.iom.int/system/files/pdf/wmr_2020.pdf
   Google Scholar
• Zapata, H. O., & Rambaldi, A. N. (1997). Monte Carlo evidence on cointegration and causation. Oxford Bulletin of Economics and Statistics, 59(2), 285–298. https://econpapers.repec.org/article/blaobuest/v_3a59_3ay_3a1997_3ai_3a2_3ap_3a285-98.htm
   Web of Science ®Google Scholar