Governance quality vs. stimulus size: fiscal policy effectiveness during the COVID-19 pandemic

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dc.authorid0000-0001-8236-9810
dc.contributor.authorTopcu, Mert
dc.contributor.authorGulsen, Mustafa Alpin
dc.date.accessioned2026-01-24T12:29:27Z
dc.date.available2026-01-24T12:29:27Z
dc.date.issued2025
dc.departmentAlanya Alaaddin Keykubat Üniversitesi
dc.description.abstractMER Given the importance of good governance for the efficiency ofgovernmentspend-ing, this study reveals the role of governance quality in fiscal policy effectiveness during the COVID-19 outbreak. Using cross-country threshold regressions for 144 countries, we find that a stringent lockdown policy (i) does not lead to economic downturn in countries with larger fiscal stimulus, (ii) leads countries with poor governance quality to head toward economic slowdown even with higher stimulus packages, (iii) does contribute to economic recovery even in countries with smaller fiscal packages if accompanied by higher governance quality. Overall, the results suggest that good governance helps achieve economic recovery, whereas an increase in the size of the fiscal stimulus can, at best, help protect against economic slowdown. The empirical findings have several implications for policymakers in countries where the blow hits the hardest, as well as for fiscalgovernance framework.
dc.identifier.doi10.3326/pse.49.2.4
dc.identifier.endpage272
dc.identifier.issn2459-8860
dc.identifier.issue2
dc.identifier.scopus2-s2.0-105008881407
dc.identifier.scopusqualityQ3
dc.identifier.startpage251
dc.identifier.urihttps://doi.org/10.3326/pse.49.2.4
dc.identifier.urihttps://hdl.handle.net/20.500.12868/5370
dc.identifier.volume49
dc.identifier.wosWOS:001589785100004
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherInst Public Finance - Croatia
dc.relation.ispartofPublic Sector Economics
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_WoS_20260121
dc.subjectfiscal stimulus
dc.subjectgovernance quality
dc.subjectCOVID-19
dc.titleGovernance quality vs. stimulus size: fiscal policy effectiveness during the COVID-19 pandemic
dc.typeArticle

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