An autonomous research institute under the Ministry of Finance

 

COVID-19 and Economic Stimulus Packages: Evidence from the Asia-Pacific Region

publication large photo
  • Publication date 2021
  • Published in NIPFP
  • Authors Lekha Chakraborty, Amandeep Kaur, Divy Rangan, Jannet Farida Jacob
  • Abstract

    Extraordinary times require extraordinary macro policy responses. Globally, the second wave of the covid pandemic has put significant emphasis on fiscal and monetary policies to step up the stimulus measures for a sustained economic recovery and also to mitigate mounting humanitarian crisis. Against this backdrop, we analyse the economic stimulus measures announced to tackle covid-19 pandemic for the selected countries in the Asia Pacific region. The economic stimulus effectiveness largely dependupon the size and structure of the economy and the existing social protection systems. The analysis of various components of stimulus package including food security, social infrastructure and social protectionmeasures showed that there are cross country variations in the emergency pandemic programmes in incorporating these components and fiscal marksmanship is crucial in translating these fiscal commitments into actual spending .