The Global Financial Crisis: Countercyclical Fiscal Policy Issues and Challenges in Malaysia, Indonesia, the Philippines, and Singapore

2011 ◽  
Author(s):  
Anita Doraisami
Keyword(s):  
Fiscal Policy ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
The Philippines ◽  
Policy Issues ◽  
The Global Financial Crisis

On the formation of a New Paradigm of fiscal Policy

2013 ◽  
pp. 152-158 ◽  
Author(s):  
V. Senchagov
Keyword(s):  
Public Finance ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Domestic Demand ◽  
Real Economy ◽  
New Paradigm ◽  
Monetary Aggregate ◽  
The Past ◽  
The Global Financial Crisis

Due to Russia’s exit from the global financial crisis, the fiscal policy of withdrawing windfall spending has exhausted its potential. It is important to refocus public finance to the real economy and the expansion of domestic demand. For this goal there is sufficient, but not realized financial potential. The increase in fiscal spending in these areas is unlikely to lead to higher inflation, given its actual trend in the past decade relative to M2 monetary aggregate, but will directly affect the investment component of many underdeveloped sectors, as well as the volume of domestic production and consumer demand.

Feminised recession: impact of the global financial crisis on women garment workers in the Philippines

2010 ◽  
Vol 18 (2) ◽  
pp. 229-240 ◽  
Author(s):  
Kristina Gaerlan ◽  
Marion Cabrera ◽  
Patricia Samia ◽  
Ed L. Santoalla
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
The Philippines ◽  
Garment Workers ◽  
The Global Financial Crisis

scholarly journals Nonlinear effects of fiscal policy on national saving

2018 ◽  
Vol 25 (1) ◽  
pp. 2-14
Author(s):  
Duy-Tung Bui
Keyword(s):  
Fiscal Policy ◽  
Financial Crisis ◽  
Empirical Model ◽  
Tax Policy ◽  
Global Financial Crisis ◽  
Economic Recession ◽  
Generation Model ◽  
Content Type ◽  
Financial Crisis Of 2008 ◽  
The Global Financial Crisis

Purpose The purpose of this paper is to examine the impacts of fiscal policy, namely, net tax and government expenditure on national saving and its nonlinearity. The author first investigates whether the impacts of fiscal policy on national saving have changed after the global financial crisis of 2008. Then, the author tests the nonlinearity of the relationship by taking account of the economic cycle, namely, economic expansion (boom) and economic recession (bust). Design/methodology/approach The empirical model bases on a reduced-form equation with national saving as a dependent variable, lagged value of national saving, output gap and fiscal policy as independent variables. The two-step system GMM approach was employed to estimate the empirical model, using a panel of 23 emerging Asian economies in the period of 1990-2015. Findings The empirical results show that tax policy and expenditure policy follow the predictions of the overlapping generation model with finite horizon and the Keynesian view. The nonlinearity of fiscal policy is twofold. The conduct of fiscal policy in the period after 2008 seems effective, while the effect is insignificant in the period before 2008. Likewise, fiscal policy tends to have more significant effects in bust cycle. The effect of tax policy is increased during recession, while the effect of government spending is more pronounced during economic downturn. Originality/value The contributions of this paper are twofold. First, it is shown that fiscal policies in the region had more impacts on national saving after the global financial crisis of 2008. Second, the research confirms nonlinear impact of fiscal policy on saving behavior during economic recession and economic boom.

scholarly journals Fiscal Policy in the EU Countries Most Affected by the Crisis: Greece, Ireland, Portugal, and Spain

2014 ◽  
Vol 17 (3) ◽  
pp. 5-27
Author(s):  
Anna Krajewska
Keyword(s):  
Fiscal Policy ◽  
Financial Crisis ◽  
Euro Area ◽  
Financial Support ◽  
International Institutions ◽  
Global Financial Crisis ◽  
The European Union ◽  
Negative Effect ◽  
The Global Financial Crisis ◽  
The Eu

The global financial crisis which began in 2007-2008 had a negative effect on the economy of the European Union, mainly in selected countries of the euro area: Greece, Ireland, Portugal and Spain. These peripheral euro zone countries come out of recession and the financial crisis largely due to the great financial support of the international institutions. Hundreds of billions of euro were spent to save these economies. At the same time, however, these countries were characterized by the lowest level of fiscal policy - measured by share of taxes in GDP - among the countries of the euro area. In this paper I will try to answer the following questions:1. What were the causes of the downturn in those countries, and what restructuring actions were taken;2. What changes were introduced in the tax system under the policy to repair public finances;3 .How have these changes affected the level and the structure of budget revenues from taxes, and to what extent has the crisis affected the change in the tax burden on consumption, labour, and capital.

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