ABSTRACT
The four major industrialized economies adopted various quantitative easing measures to increase the liquidity in their respective markets during the global financial crisis from 2008 to 2012. The magnitude of the support justified the needs of the time to alleviate the stress in the market, achieve a target inflation rate, and keep the unemployment rate low. Despite criticisms of such measures as the currency war, the results were positive. The COVID-19 pandemic has led to a new crisis in a complete breakdown in production, employment, and value chain. The crisis has compelled all central banks alike to adopt different stimulus packages. Developing countries and industrialized societies are addressing the economic issues of sustenance and livelihood through innovative steps. This paper analyzes the economic impact in select industrialized and emerging economies during the global financial crisis and the pandemic.
Keywords
Stimulus, COVID, Global Financial Crisis, Economic Impact