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Austerity: Which Way Now?

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  • Abdul Jalil

    (Pakistan Institute of Development Economics)

Abstract

Austerity, during the global financial crisis, was the rubric used to define the highly contractionary policies at the cost of domestic social and infrastructural needs (see Varoufakis, 2017). Economies with high fiscal deficits and high debt to GDP ratios are often pushed to adopt austerity IMF programmes (see Box 1 and 2, Alesina, et al. (2019).

Suggested Citation

  • Abdul Jalil, 2021. "Austerity: Which Way Now?," PIDE Knowledge Brief 2021:21, Pakistan Institute of Development Economics.
    • Handle: RePEc:pid:kbrief:2021:21
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    References listed on IDEAS

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