What Is Past Is Prologue: Learning from the Global Financial Crisis to Green the COVID-19 Recovery

Epidemic outbreak and foreign direct investment fluctuation

“…In contrast, countries with poor regulation quality can hardly recover, not to mention overshooting. Our conclusions are consistent with the recent findings that countries with poorer institutions are slower to recover after epidemics (Agrawala et al, 2020).…”

“…In contrast, countries with poor regulation quality can hardly recover, not to mention overshooting. Our conclusions are consistent with the recent findings that countries with poorer institutions are slower to recover after epidemics (Agrawala et al, 2020). Faced with risk and uncertainty brought about by epidemic outbreaks, firms' decisions on whether to suspend the investment do not rely too much on government regulation quality.…”

Green recovery: catalyst for an enhanced EU role in climate and energy policy?

“…China focused the bulk of its US$220 billion package on infrastructure modernization and expansion, mainly for railway networks and electricity grids. Japan and Germany focused on efficiency programmes for buildings, and the US spread its recovery funds across a range of different sectors (Agrawala et al, 2020).…”

Varieties of Green Stimulus Policies: Comparative Analysis of the Green Growth and Green New Deal Policies in South Korea

“…Crises, such as global economic turmoil or pandemics, often serve as external shocks and can drive countries to adopt public policies designed to facilitate recovery (Agrawala et al, 2020). For instance, the Great Depression of the early 1930s ushered in an era of a more active government and welfare state.…”

“…For instance, against the socioeconomic turmoil caused by COVID-19, multiple advanced economies adopted Green Stimulus Policies (GSP) (Krebel et al, 2020). A GSP is a policy package designed to revitalize the national economy, manage the global climate change crisis, and reduce inequality through massive public spending (Agrawala et al, 2020; Lee et al, 2021). The European Commission (2019, p. 2) adopted the European Green Deal in December 2019 to transform its member states into fair and prosperous societies with resource-efficient and competitive economies.…”