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

ABSTRACT: 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.

SUBMITTER: Bui D

PROVIDER: S-EPMC8831125 | biostudies-literature | 2022 May

REPOSITORIES: biostudies-literature

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

Bui Dzung D Dräger Lena L Hayo Bernd B Nghiem Giang G

World development 20220211

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 ch ...[more]

PMID: 35169351

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