The Impact of Foreign Workers, Outflow Remittances on Economic Growth in Selected GCC Countries: ARDL Approach
Universiti Putra Malaysia, Serdang, Selangor Darul Ehsan, Malaysia
- *Corresponding Author:
- Abdelbagi Edrees
Universiti Putra Malaysia, Serdang
Selangor Darul Ehsan, Malaysia
Tel: +60 3-8946 6000
E-mail: [email protected]
Received date May 13, 2016; Accepted date May 27, 2016; Published date May 30, 2016
Citation: Edrees A (2016) The Impact of Foreign Workers, Outflow Remittances on Economic Growth in Selected GCC Countries: ARDL Approach. Arabian J Bus Manag Review 6:250.
Copyright: © 2016 Edrees A. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
This study investigates the impact of foreign workers and outflow remittances on economic growth of selected GCC countries, namely, United Arab Emirates, Saudi Arabia, and Qatar. The study covers the time from 1985 to 2014 and utilizes annual data obtained from World Bank and International Labour Organization, the study uses Autoregressive Distributed Lag approach (ARDL). The reason behind selection of these countries is that the three countries depend mostly on foreign worker in most of the sectors of their economies, besides, the outflow remittances from these countries are among the highest in GCC countries. The results of ARDL reveal that foreign workers contribute positively to economic growth while outflow remittances have negative significant impact on economic growth of countries of interest.