A new paper by Isabel Ortiz and Matthew Cummins shows that austerity after 2010 has been more or less a general feature of the world economy, and not restricted to developed countries as one might think. The table below shows the changes in government spending in 2010-12 with respect to 2008-9.
As it can be seen, 56 of the 132 developing countries have moved to a contractionary fiscal stance. Note also that the contraction in spending is higher in developing countries than for high income countries. Too much austerity too soon, on a global scale.
Subscribe to:
Post Comments (Atom)
Inflation, real wages, and the election results
Almost everybody these days accepts at face value that the result of the election was heavily determined by negative perceptions about Biden...
-
"Where is Everybody?" The blog will continue here for announcements, messages and links to more substantive pieces. But those will...
-
There are Gold Bugs and there are Bitcoin Bugs. They all oppose fiat money (hate the Fed and other monetary authorities) and follow some s...
-
By Sergio Cesaratto (Guest Blogger) “The fact that individual countries no longer have their own currencies and central banks will put n...
No comments:
Post a Comment