International migration and remittances from oil‐exporting Gulf countries are important sources of employment, income and foreign exchange for Pakistan. This study investigates the asymmetric impact of oil prices on remittances to Pakistan from GCC countries, over the period 1980 to 2018, by employing the recently advanced non‐linear panel pooled mean group (PMG) model. The findings show that oil prices and remittance are asymmetrically associated. The increasing oil prices have a significant positive effect only in the long run, whereas reducing oil prices reveal a significant negative effect only in the short run. Findings of other explanatory variables show that the economic condition in host countries, exchange rate, and trade relations have positive effects only in the long run, whereas the economic condition in the home country has significant negative effects in the long run and positive effect in the short run. This study urges oil exporters to stabilise oil supply and prices, and Pakistan to enhance trade relations, exchange rate adjustments and financial development.

中文翻译：

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石油价格对海湾合作委员会国家向巴基斯坦汇款的影响：面板不对称分析的证据

来自海湾石油输出国的国际移民和汇款是巴基斯坦就业，收入和外汇的重要来源。本研究通过采用最近先进的非线性面板合并均值组（PMG）模型，研究了1980年至2018年期间油价对海湾合作委员会国家向巴基斯坦汇款的不对称影响。研究结果表明，石油价格和汇款是不对称关联的。油价上涨仅在长期内具有显着的积极影响，而油价下跌仅在短期内具有显着的负面影响。其他解释变量的发现表明，东道国的经济状况，汇率和贸易关系只有长期才能产生积极影响，而本国的经济状况从长远来看具有重大的负面影响，而从短期来看则具有积极的影响。这项研究敦促石油出口国稳定石油供应和价格，巴基斯坦则应加强贸易关系，汇率调整和金融发展。