Managing the COVID-19 crisis by fiscal strategies: Lessons from four countries

Abstract

The COVID-19 Crisis is urgent, global in scale, and has generated a massive impact globally. During the outbreak of the crisis, well-designed fiscal strategies play a critical role in effective crisis management. This article uses an international and comparative perspective to find fiscal strategies used by four countries including China, South Korea, the United States, and Italy to manage the COVID-19 crisis for the period of April 2020 to December 2021. It examines key similarities and differences regarding to these major fiscal strategies adopted by the four countries. This article offers important lessons and summarizes effective practices for other countries that were considering fiscal strategies to manage and deal with the economic and fiscal impacts induced by the COVID-19 crisis.