Proceedings of the International Conference on Advancing Economics (ICAE): Redefining Growth: Integrating Economy Society and Sustainability for a Resilient Future (ICAE 2026)

International Conference on Advancing Economics (ICAE): Redefining Growth: Integrating Economy Society and Sustainability for a Resilient Future (ICAE 2026)

📍Ghaziabad, Delhi NCR, India🗓️ 25-26 February 2026
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The Impact of Remittances on Financial Development in BIMSTEC Nations

Authors
Preety Sharma1, *, Anand Kumar2, Shikhar Kumar3
1Assistant Professor, University School of Humanities and Social Sciences, Guru Gobind Singh Indraprastha University, Main Campus, Dwarka, Delhi, India
2Associate Professor, Department of Economics, College of Vocational Studies, University of Delhi, New Delhi, India
3Assistant Professor, Department of Economics, Aurobindo College, University of Delhi, New Delhi, India
*Corresponding author. Email: joinpreetysharma26@gmail.com
Corresponding Author
Preety Sharma
Available Online 8 October 2026.
DOI
10.2991/978-94-6239-795-8_3How to use a DOI?
Keywords
Remittances Inflow; Financial Development; FDI; Asset Acquisitions
Abstract

The analysis makes use of information for seven BIMSTEC member nations from the ‘Government Finance Statistics Yearbook’, which is produced by “the World Bank and the International Monetary Fund”. Using region’s panel data, we inspect the connection between ‘remittances and financial development’. Pooled OLS, fixed effects, random effects, differences-in-differences, and system GMM estimators are some of the panel data analysis methods we use. The mean values show the substantial amount of remittance inflows (Rem) and the moderate level of financial development (Fd). We observe variations in the degree of growth between nations. Certain variables are skewed and some have excessive kurtosis, according to the skewness and kurtosis tests. It is imperative to note that monetary aid, bank liquidity rate (BLR), net financial flow, and foreign direct investment (FDI) all have distinct implications on financial growth. FDI is a favourable enabler of financial asset acquisition in BIMSTEC countries, as evidenced by its positive and statistically significant association with financial development.

Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the International Conference on Advancing Economics (ICAE): Redefining Growth: Integrating Economy Society and Sustainability for a Resilient Future (ICAE 2026)
Series
Advances in Economics, Business and Management Research
Publication Date
8 October 2026
ISBN
978-94-6239-795-8
ISSN
2352-5428
DOI
10.2991/978-94-6239-795-8_3How to use a DOI?
Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Preety Sharma
AU  - Anand Kumar
AU  - Shikhar Kumar
PY  - 2026
DA  - 2026/10/08
TI  - The Impact of Remittances on Financial Development in BIMSTEC Nations
BT  - Proceedings of the International Conference on Advancing Economics (ICAE): Redefining Growth: Integrating Economy Society and Sustainability for a Resilient Future (ICAE 2026)
PB  - Atlantis Press
SP  - 21
EP  - 38
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-795-8_3
DO  - 10.2991/978-94-6239-795-8_3
ID  - Sharma2026
ER  -