Evaluate effectiveness of the Australian Government’s response to the Global Financial Crisis (GFC) using fiscal stimulus and other strategies to avoid a recession.
by Gary Green
1. Background: What was the GFC? How/why did it come about? What was the impact on the Aust. + world economy?
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3. New How did the Aust. Government respond to GFC? 1. Use of fiscal stimulus – Govt. using (taxpayer) money to inject money into sections of economy. Relates to Keynesian theory of economics – how? 2. Guaranteeing deposits for banks – why and how did this help?
