Learning from other countries’ quicker economic recovery
A handful of countries are emerging from the recent economic crisis with what looks like the proverbial “light at the end of the tunnel” in their sights. Canada, Germany and Australia are three countries that appear to be rebounding quickly from the recession. Why did these three countries recover so rapidly, and is there anything the United States can take away from their strategies to help us recover?
Nariman Behravesh, is the chief economist at IHS Global Insight, an international firm specializing in economic forecasting, research, and analysis. Behravesh says the strength of economic recovery seems to be dependent on two factors: 1) the extent of a country’s fiscal stimulus and 2) the country’s housing status. (The countries which experienced housing collapses have seen employment fall much more than countries with no “housing bubble.”)
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