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David Kuenzel


Economics (ECON)


English (United States)


The 2008 financial crisis led to a global economic downturn, and the policy responses to the recession varied greatly between countries. This thesis analyzes the effects of different macroeconomic determinants on recovery speeds from the 2008 financial crisis. Using a sample of 93 countries that experienced a recession, I examine how growth rates responded to different policy choices. The cross-country evidence indicates that higher investment levels, decreased consumer spending, exchange rate depreciations, and expansionary monetary policy help countries to rebound more quickly after a financial crisis. The results also show that recovery speeds and the effectiveness of different policies vary greatly by development level. Moreover, I find substantial negative effects on growth through regional contagion after the Great Recession, in particular on the European continent.



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