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| Natura: | Artículo científico |
| Pubblicazione: |
International Labour Organization
2010
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| Accesso online: | https://researchrepository.ilo.org/esploro/outputs/journalArticle/Incomplete-crisis-responses-socio-economic-costs-and/995218852002676 |
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Sommario:
- Incomplete crisis responses: socio-economic costs and policy implications Raymond Torres This article examines the perverse effects of incomplete crisis responses. Initial emphasis on the role of government – through coordinated fiscal measures to stimulate the economy, cushion job losses and support vulnerable groups – was effective in averting another Great Depression, despite widening public deficits. However, a policy mistake was made by bailing out banks without reforming the dysfunctional financial system that triggered the crisis: concern over the financial markets’ reaction to growing public indebtedness has shifted policy towards a more traditional, market-oriented approach focusing on fiscal consolidation, smaller government and weak social protection. The risks are greater inequities and economic instability. 10.1111/j.1564-913X.2010.00085.x DOI https://doi.org/10.1111/j.1564-913X.2010.00085.x publication.journalArticle