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On measuring the effects of fiscal policy in global financial crisis: Evidences from an export-oriented island economy

机译:关于衡量财政政策在全球金融危机中的影响:来自出口导向型岛国经济的证据

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摘要

Following the 2008 financial crisis, Taiwan implemented various fiscal policies so that they could offset the shocks from the financial crisis. In the present study, we investigate whether these two fiscal policies alleviated the shock generated by the 2008 financial crisis on Taiwan's economy and unemployment. The findings provide that the economic and employment effects generated by the public work investment project were the most substantial in the public sector. By contrast, the economic and employment effects generated by the consumption vouchers policy were the largest in the service sector. These outcomes are closely related to Taiwan's industry structure. The fiscal multiplier of the public investment project and consumer vouchers distribution was 1.94 and 1.47. The evidence in the present study also seems to suggest that the two fiscal policies examined could not induce an effective long-term transformation of Taiwan's economic system. (c) 2015 Elsevier B.V. All rights reserved.
机译:在2008年金融危机之后,台湾实施了各种财政政策,以抵消金融危机带来的冲击。在本研究中,我们调查这两项财政政策是否减轻了2008年金融危机对台湾经济和失业造成的冲击。调查结果表明,公共工程投资项目产生的经济和就业影响在公共部门中最为明显。相比之下,消费券政策产生的经济和就业影响在服务业中最大。这些结果与台湾的产业结构密切相关。公共投资项目和消费券分配的财政乘数分别为1.94和1.47。本研究中的证据似乎还表明,所研究的两种财政政策无法诱导台湾经济体系进行有效的长期转型。 (c)2015 Elsevier B.V.保留所有权利。

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