Determinants of Remittance in South Asian Countries during COVID-19
1Pro Vice Chancellor, Uttara University, Bangladesh
2Department of Economics, North South University, Bangladesh
3Department of Economics, University of California, Berkeley, United States
*Author to whom correspondence should be addressed:
E-mail: mostafizur.rahman14@northsouth.edu (MR)
E-mail: mostafizur.rahman14@northsouth.edu (MR)
Received: April 03, 2025 | Revised: September 04, 2025 | Accepted: December 01, 2025 | Published: December 2025
Abstract
The COVID-19 pandemic disrupted global remittance inflows. This study analyzes remittance patterns from South Asia and key determinants like migrant stock, government incentives, and exchange rates using monthly data (2018–2022) and the Gravity Model. Results show a decline in total remittances, with growth in Bangladesh and Bhutan, declines in Afghanistan, Maldives, and Nepal, and stability in India, Pakistan, and Sri Lanka. Migration stock and exchange rates drive remittance flows, while government incentives matter only in Bangladesh. Findings suggest targeted policies, including skill-based migration, financial literacy, and lower remittance costs, to sustain remittances during crises.
Keywords
COVID-19; Gravity; Incentive; Japan; Remittance; South Asia
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