Fiscal Stimulus Packages: Recovery from the Global Crisis

The recent Financial Crisis reminded us once again about the vulnerability of the global economy. Economists were forced to think about the effectiveness of their policies. During this period, many governments across the world had adopted fiscal measures to boost their local economies. The path to recovery from a crisis of such magnitude is indeed long and painful. The effectiveness of fiscal and monetary measures is a matter of debate among economists. This paper discusses the fiscal measures adopted by countries across the world, and analyzes their impact.