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Volume :24 Issue : 4 1996      Add To Cart                                                                    Download

Private consumption in the GCC countries ; An empirical investigation (1970-1992)

Auther : Yousuf Hasan Jawad Mohammad

This paper analyzes the behavior of private consumption in the GCC countries over the period 1970 -1992. it proceeds specifying and estimating different consumption functions for these countries in a effort to answer several questions such as ; A) Did private consumption in GCC countries behave according to any known consumption hypotheses ?. B) What are the major determinants of private consumption?. C) Were there policy variables the affected the behavior of private consumers in these countries ?. the finding reveal that the both the adaptive exceptions permanent income hypothesis and the rational expectations random walk hypothesis fit the GCC data reasonably well . the results also indicate that the real interest rate has no significant effect on GCC  private consumption , since private consumption in these countries is insensitive to interest rate changes , one of the main policy tools normally used by policymakers to influence consumption patterns.

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