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Developing Asia has weathered the global economic crisis well and is experiencing a rapid, robust V-shaped recovery. According to conventional wisdom, the fiscal stimulus packages put in place by the region's governments played a key role in the region's superior postcrisis performance. The...
Persistent link: https://www.econbiz.de/10013137371
basis of how quickly their private debt builds up. In addition to output recessions, we look at consumption and investment …
Persistent link: https://www.econbiz.de/10012835374
The substantial slowdown of economic growth since the global financial crisis of 2008-2009 is rekindling debate on whether developing Asia should use fiscal expansion to boost aggregate demand. A key factor in the debate is the effectiveness of countercyclical fiscal policy in the region. The...
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This paper proposes the uses of the global economic crisis smash effect simulator as a theoretical framework to evaluate the final effects of any global financial crisis on the world economy. We present different scenarios and results according to different levels of devastation that the global...
Persistent link: https://www.econbiz.de/10012914496
A key legacy of the Asian financial crisis of 1997-1998 is a sustained drop-off in the investment rates of East Asian … countries that were hardest hit by the crisis. We first review the stylized facts of investment in those countries, and then … explore and evaluate the various possible explanations for the decline in investment. In our empirical analysis, which expands …
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population. The scope for investment-led growth may be quite limited, so the key to growth is stronger domestic demand, and the …
Persistent link: https://www.econbiz.de/10009379728