Global Financial Crisis and ASEAN: Fiscal Policy Response in the Case of Thailand and Indonesia |
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Authors: | Kanit Sangsubhan M Chatib Basri |
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Institution: | 1. Fiscal Policy Research Institute;2. The University of Indonesia |
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Abstract: | Sound macroeconomic and financial fundamentals, plus quick and forceful fiscal policy responses contributed to Thailand's and Indonesia's economic recovery in the aftermath of the global financial crisis. This paper reviews the impacts of the recent global financial crisis on the Thai and Indonesian 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. |
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Keywords: | ASEAN fiscal policy fiscal sustainability global financial crisis Indonesia Thailand E62 H20 H30 |
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