Remittances and inflation in OPEC countries: Evidence from bias-corrected least-squares dummy variable (CLSDV) estimator
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authors
keywords
- Remittances
- OPEC
- Inflation
- CLSDV
document type
ARTabstract
The aim of this paper is to investigate the impact of remittances outflows on inflation for a panel of 14 OPEC countries during the period 1980-2018. Using bias-corrected least-squares dummy variable (CLSDV) estimator, empirical results reveal that remittance outflows have no effect on inflation rate. However, trade openness and current account deficits have a positive impact on inflation. Further, oil price appears to not have any effect on inflation in OPEC countries.
