The Global Financial Crisis and its Budget Impacts in OECD Nations

Fiscal Responses and Future Challenges

John Wanna, Evert A. Lindquist, Jouke de Vries (Herausgeber)

Buch | Hardcover

368 Seiten

2015
Edward Elgar Publishing Ltd (Verlag)
978-1-78471-895-4 (ISBN)

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The global financial crisis of 2007–09 constituted the biggest shock to the economies of the OECD nations since the Second World War, testing budgetary systems and causing most of their governments to move into intense crisis mode.

The global financial crisis of 2007-09 constituted the biggest shock to the economies of the OECD nations since the Second World War, testing budgetary systems and causing most of their governments to move into intense crisis mode. Policy responses by governments and international authorities included massive interventions to stabilize markets and economies, and significant adjustments to fiscal policy regimes. How governments reacted to the crisis, which was manifested differently in each jurisdiction, had significant political implications for sitting governments and led to reforms of fiscal policy and budgetary regimes, which have since continued to wrestle with slow economic growth and strained public finances.This singular shock provides the editors and authors of this book with an intriguing opportunity to examine how different OECD budgetary systems performed. The contributions frame and assess how governments responded to the challenge and how their budget systems evolved in the aftermath, with a focus on strategy, decision-making and balancing competing demands. Chapters cover the EU, North America and Asia, including comparison between countries that fared well, those who were moderately affected and those countries massively affected by the global financial crisis.

This timely book will appeal to students and academics seeking an international understanding and analysis of the effects and consequences of the global financial crisis.

Contributors: M.G. Arghyrou, R. Boyle, S. Davidsen, T. Degen, D.M. Fantone, D.A. Good, M. Horie, L. Jensen, E. A. Lindquist, M. Mulreany, P.T. Pereira, P.L. Posner, J. de Vries, J. Wanna, L. Wemans, E. Zapico-Goñi

Edited by John Wanna, Research School of Social Sciences, The Australian National University, Australia, Evert A. Lindquist, Professor, School of Public Administration, University of Victoria, Canada and Jouke de Vries, Professor of Governance and Public Policy, University of Groningen and Dean of Campus Fryslân, Leeuwarden, the Netherlands

Contents:

Acknowledgements

1. Meeting the Challenge of the Global Financial Crisis in OECD Nations – Fiscal Responses and Future Challenges
Evert A. Lindquist, Jouke de Vries and John Wanna

2. The United States Response to the Global Financial Crisis – From Robust Stimulus to Fiscal Gridlock
Paul L. Posner and Denise M. Fantone

3. Canada’s Reactive Budget Response to the Global Financial Crisis – From Resilience and Brinkmanship to Agility and Innovation
David A. Good and Evert A. Lindquist

4. Australian and New Zealand Responses to the ‘Fiscal Tsunami’ of the Global Financial Crisis – Preparation and Precipitous Action with the Promise of Consolidation
John Wanna

5. Budgeting in Japan after the Global Financial Crisis – Postponing Decisions on Crucial Issues
Masahiro Horie

6. Budgetary Challenges in The Netherlands – Resuming Business after a Turbulent Time
Jouke de Vries and Tom Degen

7. The Global Financial Crisis in Denmark and Sweden – A Case of Management ‘Lite’
Lotte Jensen and Sysser Davidsen

8. Spain Facing the Global Financial Crisis – Cutting Public Spending and Struggling with Structural Reforms
Eduardo Zapico-Goñi

9. Portugal and the Global Financial Crisis – Short-sighted Politics, Deteriorating Public Finances and the Bailout Imperative
Paulo T. Pereira and Lara Wemans

10. The Global Financial Crisis in Greece – Its Background Causes, Escalation and Prospects for Recovery
Michael G. Arghyrou

11. Managing Ireland’s Budgets During the Rise and Fall of the ‘Celtic Tiger’
Richard Boyle and Michael Mulreany

12. Readiness, Resilience, Reform and Persistence of Budget Systems after the GFC – Conclusions and Implications
Evert A. Lindquist, Jouke de Vries and John Wanna

Index

Erscheint lt. Verlag	25.9.2015
Verlagsort	Cheltenham
Sprache	englisch
Maße	156 x 234 mm
Themenwelt	Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung
	Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
	Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
ISBN-10	1-78471-895-5 / 1784718955
ISBN-13	978-1-78471-895-4 / 9781784718954
Zustand	Neuware