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The effects of fiscal policy on households during the COVID-19 pandemic: Evidence from Thailand and Vietnam

The economic crisis created by the COVID-19 pandemic induced many governments to provide financial assistance to households. Using representative consumer surveys conducted during the pandemic in 2020, we examine the effects of this fiscal policy instrument on households in two emerging economies, T...

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Detalles Bibliográficos
Autores principales: Bui, Dzung, Dräger, Lena, Hayo, Bernd, Nghiem, Giang
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Ltd. 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8831125/
https://www.ncbi.nlm.nih.gov/pubmed/35169351
http://dx.doi.org/10.1016/j.worlddev.2022.105828
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author Bui, Dzung
Dräger, Lena
Hayo, Bernd
Nghiem, Giang
author_facet Bui, Dzung
Dräger, Lena
Hayo, Bernd
Nghiem, Giang
author_sort Bui, Dzung
collection PubMed
description The economic crisis created by the COVID-19 pandemic induced many governments to provide financial assistance to households. Using representative consumer surveys conducted during the pandemic in 2020, we examine the effects of this fiscal policy instrument on households in two emerging economies, Thailand and Vietnam. Our paper contributes to the literature by studying how consumer sentiment and durable spending relate to receiving government financial support and the underlying transmission channels for these responses. We find that financial support to households is related to more positive consumer sentiment and increases in actual and planned durable spending, while also being correlated with a more optimistic macroeconomic outlook, higher trust in the government, and higher personal well-being.
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spelling pubmed-88311252022-02-11 The effects of fiscal policy on households during the COVID-19 pandemic: Evidence from Thailand and Vietnam Bui, Dzung Dräger, Lena Hayo, Bernd Nghiem, Giang World Dev Article The economic crisis created by the COVID-19 pandemic induced many governments to provide financial assistance to households. Using representative consumer surveys conducted during the pandemic in 2020, we examine the effects of this fiscal policy instrument on households in two emerging economies, Thailand and Vietnam. Our paper contributes to the literature by studying how consumer sentiment and durable spending relate to receiving government financial support and the underlying transmission channels for these responses. We find that financial support to households is related to more positive consumer sentiment and increases in actual and planned durable spending, while also being correlated with a more optimistic macroeconomic outlook, higher trust in the government, and higher personal well-being. Elsevier Ltd. 2022-05 2022-02-11 /pmc/articles/PMC8831125/ /pubmed/35169351 http://dx.doi.org/10.1016/j.worlddev.2022.105828 Text en © 2022 Elsevier Ltd. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Bui, Dzung
Dräger, Lena
Hayo, Bernd
Nghiem, Giang
The effects of fiscal policy on households during the COVID-19 pandemic: Evidence from Thailand and Vietnam
title The effects of fiscal policy on households during the COVID-19 pandemic: Evidence from Thailand and Vietnam
title_full The effects of fiscal policy on households during the COVID-19 pandemic: Evidence from Thailand and Vietnam
title_fullStr The effects of fiscal policy on households during the COVID-19 pandemic: Evidence from Thailand and Vietnam
title_full_unstemmed The effects of fiscal policy on households during the COVID-19 pandemic: Evidence from Thailand and Vietnam
title_short The effects of fiscal policy on households during the COVID-19 pandemic: Evidence from Thailand and Vietnam
title_sort effects of fiscal policy on households during the covid-19 pandemic: evidence from thailand and vietnam
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8831125/
https://www.ncbi.nlm.nih.gov/pubmed/35169351
http://dx.doi.org/10.1016/j.worlddev.2022.105828
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