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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...
Autores principales: | , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Elsevier Ltd.
2022
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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. |
format | Online Article Text |
id | pubmed-8831125 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2022 |
publisher | Elsevier Ltd. |
record_format | MEDLINE/PubMed |
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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