Abstract
ABSTRACT The Covid-19 pandemic is a major global crisis the impact of which is likely to exceed the upheavals caused by the last financial and economic crisis of 2008/2009. Germany as an export-oriented economy faces tremendous economic threats in the aftermath of the pandemic such as the collapse of global supply chains, the lockdown of economic sectors and impending job losses. As a reaction, the German government adopted, much as in the previous financial crisis, fiscal stimulus packages as part of a Keynesian-style public spending programme to stabilise its economy. Yet, in addition, the German government explicitly conceptualised its reactions as part of a ‘Package for the Future’ (Zukunftspaket), interlinking it with the second big global challenge: climate change and environmental degradation. We evaluate the German stimulus package on both these goals by comparing it with stimulus packages passed in other G20 countries. Based on a Qualitative Comparative Analysis (QCA) added by a case study of Germany, we identify the driving determinants behind the fiscal policy reactions with regard to the size of the stimulus package as well as its contribution to adopt long-term environmental transformations.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
