ECON6001: Economic Principles Case Study Assignment Help
Question
NURBN3031: This is a case study-based assignment for Torrens University Australia. The assignment aims to assess the student’s ability to critically examine important microeconomic and macroeconomic indicators. It has been suggested that after the remarks of the RBA governor Philip Lowe, people were debating on the use of unconventional monetary policies. The students are provided with two countries, for which they are supposed to contrast how the two nations have implemented the assigned fiscal policy to mitigate the recessions brought on by COVID-19.
Solution
The solution for this assignment incorporates the third part of the assignment which requires the student to compare the ways in which Vietnam and Peru have employed their assigned fiscal policy to counteract the COVID-19 recession. Our experts have approached this comparison from a critical perspective by using data from credible sources.
The solution begins by providing a brief introduction to the fiscal changes that were brought about by COVID-19. Our experts have also briefly mentioned the aim of writing this solution to provide an orientation to the essay.
COVID 19 has presented an unprecedented shock to almost every country around the world. In response, governments have put a range of fiscal policy measures to minimize the economic fallout and keep the business afloat.
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Vietnam
Firstly, our experts have delved into the ways through which Vietnam has deployed fiscal policies to navigate the challenges brought about by the recession following COVID-19. We have provided half of the complete section written by our experts below:
Vietnam is a dynamic and emerging economy which was hardly hit by COVID -19. To combat the economic challenges, Vietnam government has announced a recovery plan – the package around $15 billion.
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In the next paragraph, our experts have assessed the recovery plan utilized by Vietnam from a policy perspective. This analysis is supported by credible evidence-based resource materials.
From the policy perspective, the eligibility criteria were tight, and the administrative procedures are cumbersome. Credit support programs are biased towards the larger firms who has access to the bank credit. The more vulnerable small firms have limited access to the fiscal support program. Policy makers should design the fiscal policy support targeted towards the vulnerable business sectors most in need. (Era Dabla-Norris, 2022).
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Peru
In the next section, our experts have provided a brief overview of the strategies used by Peru to combat the challenges that accompanied the recession of COVID-19. Our experts have highlighted all the steps taken by the government at both local and national levels.
Peru was hardly hit by COVID -19. It is one of the most affected countries by the pandemic in terms of number of deaths as percentage of total population. In response, the government has approved S/. 3 billion (0.5 percent of GDP) for health emergency fund and direct transfer of S/. 7 billion (1.1 percent of GDP) initially and later additional S/. 6.4 billion (0.9 percent of GDP) to the vulnerable household during the period of COVID 19.
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Lastly, this section presents a critical analysis of the fiscal policy response by Peru to counteract the COVID-19 recession of 2020. You can read a snippet of the complete analysis below:
In a broader sense, the fiscal policy response includes direct support to the vulnerable households, business, health care system with a sizeable credit guarantee program that was essential for many businesses.
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