EconPapers    
Economics at your fingertips  
 

Impact of COVID-19 on FDIs, Remittances and Foreign Aids: A Case Study of Nepal

Gaurav Bhattarai and Binita Subedi

Millennial Asia, 2021, vol. 12, issue 2, 145-161

Abstract: The global economy has been severely paralysed, owing to the unprecedented crisis triggered by the COVID-19 pandemic, and different studies have indicated that the crisis is relatively more maleficent to the lower-income and middle-income economies. Methodologically, this study relied on the review and analysis of the grey literature, media reporting and data published by the Asian Development Bank, United Nations Conference on Trade and Development (UNCTAD), United Nations (UN), World Bank, International Monetary Fund (IMF) among others. The article begins by describing the impact of the pandemic on low-income and middle-income countries, and it discusses how they have responded to the crisis. While discussions have surfaced regarding whether COVID-19 will reverse the process of globalization, what will be its impact on the low-income country like Nepal? The study also highlights that with foreign direct investments speculated to shrink and foreign assistance and remittance taking a hit, how is Nepal struggling to keep its economy afloat? Analysing the new budget that the government unveiled in 2020, this study concludes with a note that instead of effectively implementing the plans and policies directed by the budget, Nepal is unnecessarily engaged in political mess and is needlessly being dragged into the geopolitical complications.

Keywords: Pandemic; low-income countries; Nepal; remittance; FDI; pandemic aid (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/0976399620974202 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:millen:v:12:y:2021:i:2:p:145-161

DOI: 10.1177/0976399620974202

Access Statistics for this article

More articles in Millennial Asia
Bibliographic data for series maintained by SAGE Publications ().

 
Page updated 2022-06-19
Handle: RePEc:sae:millen:v:12:y:2021:i:2:p:145-161