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Global Financial Crisis and ASEAN : Fiscal Policy Response in the Case of T hailand and I ndonesia
Author(s) -
Sangsubhan Kanit,
Basri M. Chatib
Publication year - 2012
Publication title -
asian economic policy review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.58
H-Index - 20
eISSN - 1748-3131
pISSN - 1832-8105
DOI - 10.1111/j.1748-3131.2012.01241.x
Subject(s) - financial crisis , stimulus (psychology) , economics , fiscal policy , real economy , financial system , macroeconomics , monetary economics , psychology , psychotherapist
Sound macroeconomic and financial fundamentals, plus quick and forceful fiscal policy responses contributed to T hailand's and I ndonesia's economic recovery in the aftermath of the global financial crisis. This paper reviews the impacts of the recent global financial crisis on the T hai and I ndonesian economies, and identifies the characteristics of the fiscal stimulus package in each economy and their implications to counter the negative impact of the global financial crisis.