Keynes Goes Global: Anticipating the Global Slowdown

... global fiscal stimulus package that could be put together in the near term needs to take into account the multiplier effects as well as the spillover effects of fiscal spending across countries and regions in the 2008-2009 undertaking. Interestingly, Russia’s fiscal stimulus within the coordinated response was one of the least sizeable, with a significant part of the post-crisis recovery taking place on the back of the growth in oil prices. This time around Russia is in a relatively favourable position ...