Fiscal and monetary responses to the COVID-19 pandemic: Current conditions and future scenarios in developing countries

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dc.creatorDíaz-Bonilla, Eugenio
dc.creatorCenturión, Miriam
dc.date2022-03-07
dc.date2024-04-12T13:37:48Z
dc.date2024-04-12T13:37:48Z
dc.date.accessioned2026-06-27T15:10:16Z
dc.descriptionOur 2020 report on responses to COVID-19 discussed national pandemic response plans in developing countries (Díaz-Bonilla 2020). Those integrated plans, it was argued, would require a centralized crisis-management office led by the president, prime minister, or equivalent, with participation of the relevant public and private sector representatives. A strong fiscal and monetary response was needed to support these plans, including unconventional monetary policies, such as those used by what were labeled “developmental central banks” during the 1960s and 1970s (Díaz-Bonilla 2015). Expansion in money supply during the pandemic would finance the fiscal deficit related to public expenditures on health and non-health programs as well as programs to maintain private sector production. We noted that central banks in developed countries have followed a similar monetary approach, now called “quantitative easing,” since the 2008–2009 financial crisis, an approach they ramped up during the pandemic.
dc.formatapplication/pdf
dc.identifierhttps://hdl.handle.net/10568/141383
dc.identifier.urihttp://hdl.handle.net/123456789/96632
dc.languageen
dc.publisherInternational Food Policy Research Institute
dc.relationhttps://doi.org/10.2499/9780896294226
dc.relationhttps://www.ifpri.org/interactive/covid2022
dc.rightsOpen Access
dc.sourceDiaz-Bonilla, Eugenio; and Centurion, Miriam. 2022. Fiscal and monetary responses to the COVID-19 pandemic: Current conditions and future scenarios in developing countries. In COVID-19 and global food security: Two years later, eds. John McDermott and Johan Swinnen. Part Four: Policy Responses and Implications, Chapter 27, Pp. 162-171. https://doi.org/10.2499/9780896294226_27.
dc.subjectvalue chains
dc.subjectagricultural products
dc.subjectpolicies
dc.subjectcovid-19
dc.subjecthealth
dc.subjectsocial protection
dc.subjectnutrition
dc.subjectdeveloping countries
dc.subjectfood security
dc.subjectpoverty
dc.titleFiscal and monetary responses to the COVID-19 pandemic: Current conditions and future scenarios in developing countries
dc.typeBook Chapter

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