A review and research agenda of fiscal policy post 2008 financial crisis Online publication date: Tue, 09-Nov-2021
by Deepti Ahuja; Deepak Pandit
International Journal of Indian Culture and Business Management (IJICBM), Vol. 24, No. 2, 2021
Abstract: The financial crisis of 2008 has exploded the government debt levels and brought fiscal policy to the forefront of policy debates. The environment of interest rate close to zero bound, with the tumbling financial markets revamped the importance of fiscal policy in stimulating the economy. In addition to this, the Covid-19 pandemic has also intensified the urgency of fiscal policy action. In this article, the academic literature on fiscal policy was examined in light of developments that took place post-2008 financial crisis. Following a concept-based methodology, the paper clustered the fiscal policy literature under three heads: 1) cyclical pattern of fiscal policy; 2) fiscal consolidation strategies; 3) effectiveness of fiscal policy. The study provides an insight into the importance of countercyclical fiscal policy especially during health emergencies such as Covid-19 pandemic that would be required to promote the economic development of the society as a whole.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Indian Culture and Business Management (IJICBM):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com
Our Blog 
Follow us on Twitter 
Visit us on Facebook