The Deployment of Fiscal Policy In Five ASEAN Countries in Dampening The Impact of COVID-19
Keywords:
ASEAN, COVID-19, Economic Stimulus Package, Fiscal policy, Political Economy, Theory of Fiscal policyAbstract
The COVID-19 crisis is casting a long shadow over ASEAN and its member states. The number of individuals infected by it continues to surge daily. COVID-19 has rapidly morphed into an unprecedented health, economic and geopolitical crisis. Among the sectors that have practically ground to a halt are the tourism, aviation and travel sectors. This paper attempts to examine the initiatives taken by several ASEAN countries in mitigating the impact of COVID-19. A content analysis was employed in order to understand the economic stimulus packages employed by five ASEAN countries in dampening the effect of COVID-19. Several evidences are presented in this paper by referring to published data, and information from secondary sources such as scholarly articles and journals, newspapers and data from the web. The findings are also strengthened by connecting those initiatives with a political economy theory of fiscal policy. The study found that the majority of ASEAN countries employ fiscal policy in order to stimulate the economy and encourage full employment.
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Copyright (c) 2021 Mohd Rozaimy bin Ridzuan, Noor Amira Syazwani Abd Rahman
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