Higher oil prices dampened impact of Fed spillovers in Gulf – IMF paper

IMF logo
Photo: Flickr/freeimage4life

Higher oil prices can significantly dampen the spillover effects of US monetary policy on Gulf economies, a paper published by the International Monetary Fund finds.

Olumuyiwa Adedeji and co-authors examine how oil prices affect US monetary policy spillovers on non-oil GDP growth in Gulf Cooperation Council economies. They study GCC commercial bank excess reserves, oil price levels and interest rate data from 2004–18.

They find that an increase in US interest rates of 100 basis points reduces

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: