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The decade of adjustment : a review of austerity trends 2010-2020 in 187 countries

Author

Listed:
  • Ortiz, Isabel.
  • Cummins, Matthew.
  • Capaldo, Jeronim.
  • Karunanethy, Kalaivani.

Abstract

Examines the latest IMF government spending projections for 187 countries between 2005 and 2020; (ii) reviews 616 IMF country reports in 183 countries to identify the main adjustment measures considered by governments in both high-income and developing countries; (iii) applies the United Nations Global Policy Model to simulate the impact of expenditure consolidation on growth and employment; (iv) discusses the threats of austerity to welfare and social progress; and (v) calls for urgent action by governments to adopt alternative and equitable policies for socio-economic recovery.

Suggested Citation

  • Ortiz, Isabel. & Cummins, Matthew. & Capaldo, Jeronim. & Karunanethy, Kalaivani., 2015. "The decade of adjustment : a review of austerity trends 2010-2020 in 187 countries," ILO Working Papers 994890453402676, International Labour Organization.
  • Handle: RePEc:ilo:ilowps:994890453402676
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    References listed on IDEAS

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    1. Cornia, Giovanni Andrea & Jolly, Richard & Stewart, Frances (ed.), 1987. "Adjustment with a Human Face: Volume 1, Protecting the Vulnerable and Promoting Growth," OUP Catalogue, Oxford University Press, number 9780198286097.
    2. John Weeks & Terry McKinley, 2007. "The Macroeconomic Implications of MDG-Based Strategies in Sub-Saharan Africa," Policy Research Brief 4, International Policy Centre for Inclusive Growth.
    3. Jeronim Capaldo and Alex Izurieta, 2012. "The Imprudence of Labour Market Flexibilization in a Fiscally Austere World," Working Papers 112, United Nations, Department of Economics and Social Affairs.
    4. Gerald Epstein, 2009. "Rethinking Monetary and Financial Policy: Practical suggestions for monitoring financial stability while generating employment and poverty reduction," Published Studies ilo_epstein11_09, Political Economy Research Institute, University of Massachusetts at Amherst.
    5. Stolz, Stéphanie Marie & Wedow, Michael, 2010. "Extraordinary measures in extraordinary times – Public measures in support of the financial sector in the EU and the United States," Occasional Paper Series 117, European Central Bank.
    6. Ortiz, Isabel, & Cummins, Matthew. & Karunanethy, Kalaivani., 2015. "Fiscal space for social protection options to expand social investments in 187 countries," ILO Working Papers 994877663402676, International Labour Organization.
    7. Epstein, Gerald., 2009. "Rethinking monetary and financial policy : practical suggestions for monitoring financial stability while generating employment and poverty reduction," ILO Working Papers 994344393402676, International Labour Organization.
    8. Gerry Rodgers, 2007. "Labour Market Flexibility and Decent Work," Working Papers 47, United Nations, Department of Economics and Social Affairs.
    9. Mark Weisbrot & Juan Antonio Montecino, 2010. "The IMF and Economic Recovery: Is Fund Policy Contributing to Downside Risks?," CEPR Reports and Issue Briefs 2010-24, Center for Economic and Policy Research (CEPR).
    10. Robert Pollin & Gerald Epstein & James Heintz, 2008. "Pro-Growth Alternatives for Monetary and Financial Policies in Sub-Saharan Africa," Policy Research Brief 6, International Policy Centre for Inclusive Growth.
    11. Jingqing Chai & Isabel Ortiz & Xavier R. Sire, 2010. "Protecting Salaries of Frontline Teachers and Health Workers," Working briefs 1002, UNICEF, Division of Policy and Strategy.
    12. Rolph van der Hoeven, 2010. "Labour Markets Trends, Financial Globalization and the current crisis in Developing Countries," Working Papers 99, United Nations, Department of Economics and Social Affairs.
    13. Daniel Leigh & Andrea Pescatori & Jaime Guajardo, 2011. "Expansionary Austerity New International Evidence," IMF Working Papers 11/158, International Monetary Fund.
    14. Isabel Ortiz, 2007. "Social Policy," Policy Notes 6, United Nations, Department of Economics and Social Affairs.
    15. repec:ilo:ilowps:434439 is not listed on IDEAS
    16. UN Women, 2015. "Progress of the World’s Women 2015-2016: Transforming Economies, Realizing Rights," Working Papers id:7688, eSocialSciences.
    17. Heltberg, Rasmus & Hossain, Naomi & Reva, Anna & Turk, Carolyn, 2012. "Anatomy of coping: evidence from people living through the crises of 2008-11," Policy Research Working Paper Series 5957, The World Bank.
    18. Annalisa Fedelino & Gerd Schwartz & Marijn Verhoeven, 2006. "Aid Scaling Up; Do Wage Bill Ceilings Stand in the Way?," IMF Working Papers 06/106, International Monetary Fund.
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    Cited by:

    1. Gassmann, Franziska & Mohnen, Pierre & Vinci, Vincenzo, 2016. "Institutional factors and people's preferences in social protection," MERIT Working Papers 003, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).

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