Structural change in MENA remittance flows

• Autores: George S. Naufal, Ismail H. Genc
• Localización: Emerging Markets Finance & Trade, ISSN-e 1558-0938, Vol. 51, Nº. 6, 2015
• Idioma: inglés
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• Resumen

  • After independence, the Gulf Cooperation Council (GCC) countries relied heavily on foreign workers from fellow Arab countries. Thus, remittances flowed from the GCC to other countries in Middle East and North Africa (MENA). In the 1980s and 1990s, the labor source switched to South Asia, which we econometrically verify. This deprived several MENA labor exporters of large sums of foreign exchange, adding significant economic, social, and political hardships on non-GCC MENA countries