Sluggish Recovery from the Financial Crisis: Crowding-out Effect and Contagion.

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  • Additional Information
    • Author-Supplied Keywords:
      contagion effect
      Crowding-out effect
      financial crisis
      G01
      G18
      Granger-causality test
    • Subject Terms:
    • NAICS/Industry Codes:
      921130 Public Finance Activities
    • Abstract:
      The stimulus plans by the US Government after the financial crisis in 2008 may decrease private investment by means of a crowding-out effect. The US Federal Reserve utilized quantitative easing policies to maintain the interest rate as low as possible to minimize crowding-out. The 2008 financial crisis also affects other economies through contagion effects. This paper investigates the existence of the crowding-out effect and contagion effect after the crisis using Temin and Voth's models. The empirical results from vector autoregession show that there is a crowding-out effect in the US economy as well as a contagion effect of the crisis on the Korean and Japanese economies. [ABSTRACT FROM AUTHOR]
    • Abstract:
      Copyright of Global Economic Review is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
    • Author Affiliations:
      1Department of International Trade & Commerce, Kyungsung University, Busan, Republic of Korea
      2Department of Accounting, Finance, and Economics, University of West Alabama, Livingston, AL, USA
    • ISSN:
      1226-508X
    • Accession Number:
      10.1080/1226508X.2014.982320
    • Accession Number:
      100015616
  • Citations
    • ABNT:
      KIM, Y. J.; LEE, J. Y. Sluggish Recovery from the Financial Crisis: Crowding-out Effect and Contagion. Global Economic Review, [s. l.], v. 43, n. 4, p. 408–428, 2014. DOI 10.1080/1226508X.2014.982320. Disponível em: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bth&AN=100015616&custid=s6224580. Acesso em: 25 fev. 2020.
    • AMA:
      Kim YJ, Lee JY. Sluggish Recovery from the Financial Crisis: Crowding-out Effect and Contagion. Global Economic Review. 2014;43(4):408-428. doi:10.1080/1226508X.2014.982320.
    • APA:
      Kim, Y. J., & Lee, J. Y. (2014). Sluggish Recovery from the Financial Crisis: Crowding-out Effect and Contagion. Global Economic Review, 43(4), 408–428. https://doi.org/10.1080/1226508X.2014.982320
    • Chicago/Turabian: Author-Date:
      Kim, Yeon Joon, and Joo Young Lee. 2014. “Sluggish Recovery from the Financial Crisis: Crowding-out Effect and Contagion.” Global Economic Review 43 (4): 408–28. doi:10.1080/1226508X.2014.982320.
    • Harvard:
      Kim, Y. J. and Lee, J. Y. (2014) ‘Sluggish Recovery from the Financial Crisis: Crowding-out Effect and Contagion’, Global Economic Review, 43(4), pp. 408–428. doi: 10.1080/1226508X.2014.982320.
    • Harvard: Australian:
      Kim, YJ & Lee, JY 2014, ‘Sluggish Recovery from the Financial Crisis: Crowding-out Effect and Contagion’, Global Economic Review, vol. 43, no. 4, pp. 408–428, viewed 25 February 2020, .
    • MLA:
      Kim, Yeon Joon, and Joo Young Lee. “Sluggish Recovery from the Financial Crisis: Crowding-out Effect and Contagion.” Global Economic Review, vol. 43, no. 4, Dec. 2014, pp. 408–428. EBSCOhost, doi:10.1080/1226508X.2014.982320.
    • Chicago/Turabian: Humanities:
      Kim, Yeon Joon, and Joo Young Lee. “Sluggish Recovery from the Financial Crisis: Crowding-out Effect and Contagion.” Global Economic Review 43, no. 4 (December 2014): 408–28. doi:10.1080/1226508X.2014.982320.
    • Vancouver/ICMJE:
      Kim YJ, Lee JY. Sluggish Recovery from the Financial Crisis: Crowding-out Effect and Contagion. Global Economic Review [Internet]. 2014 Dec [cited 2020 Feb 25];43(4):408–28. Available from: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bth&AN=100015616&custid=s6224580