Austerity and recovery: East Asian lessons for Europe by Anusha Chari and Peter Blair Henry published by VOXEU (3/2015). “In the wake of the Great Recession, a contentious debate has erupted over whether austerity is helpful or harmful for economic growth. This column compares the experiences of the East Asian countries – whose leaders responded to the East Asian financial crisis with expansionary fiscal policy – with those of the European periphery countries during the Great Recession…”
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