Taiwan's budgetary responses to Covid-19
The use of special budgets
Bibliographic Data
| ID | 20201386 |
|---|---|
| Authors | Wei-Jie Liao (0000-0002-2369-9622, University of Nebraska at Omaha), Nai‐Ling Kuo (0000-0002-1251-4506, National Taiwan University), Shih-Hsien Chuang (0000-0001-6601-5246, Northwest Missouri State University) |
| Year | 2021 |
| Volume | 33 |
| Issue | 1 |
| Pages | 24-32 |
| Publication date | 2021-01-26 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Public Budgeting Accounting & Financial Management (JOURNAL) |
| Journal identifiers | ISSN: 1096-3367 • E-ISSN: 1945-1814 |
| Publisher | Emerald (PUBLISHER) |
| DOI | 10.1108/jpbafm-07-2020-0128 |
| OpenAlex | W3095950968 |
| Language | EN |
| Citations received | 3 |
| References cited | 8 |
Purpose The authors examine the Taiwanese government's budgetary responses to COVID-19, with a focus on the special budgets created for containing the virus, undertaking bailouts and providing economic stimulus. The authors assess the short-term and long-term fiscal implications of the budgetary measures and discuss how Taiwan's experiences could provide lessons for other countries for future emergencies. Design/methodology/approach The authors collect data from Taiwan's official documents and news reports and compare the special budgets proposed by the Taiwanese government during the Great Recession and the COVID-19 pandemic. The authors discuss lessons learned from the 2008–09 special budget and possible concerns of the 2020 special budgets. In the conclusions, the authors discuss potential long-term implications for Taiwan's budgetary system as well as possible lessons for other countries based on Taiwan's experiences Findings The authors found that the 2008–09 special budgets focused only on economic stimulus, whereas the 2020 special budgets covered COVID-19 treatments, bailouts and economic stimulus. In 2020, the Taiwanese government devised targeted bailout plans for industries and individuals most affected by the pandemic and created the Triple Stimulus Vouchers to boost the economy. Since the special budgets were largely funded through borrowing, the authors pointed out concerns for fiscal sustainability and intergenerational equity. Originality/value COVID-19 has changed how the world functions massively. This work adds to the literature on COVID-19 by providing Taiwan's budgetary responses to the pandemic. This work also identifies ways for Taiwan to improve the existing budgetary system and discusses lessons for other countries
Bailout · Business · Debt · Development economics · Economic growth · Economic policy · Economics · Financial crisis · Fiscal sustainability · Macroeconomics · Originality · Pandemic · Political science · Public economics · Recession · Fiscal Policies and Political Economy · Local Government Finance and Decentralization · Medicine · Psychology
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,5 |
| Citation span | 2020 - 2026 (7) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 3 |