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(1
): 12-28
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Independent review of emergency economic stimulus measures: Global Financial
Crisis and COVID?19
#MMPMIDC7323381
Wilkins P
; Gilchrist D
; Phillimore J
ä-/-ä 2021[Mar]; 80
(1
): 12-28
PMIDC7323381
show ga
Major government emergency interventions demand, and generally receive,
independent scrutiny. This article looks back at reviews of the Australian
government's economic stimulus measures introduced in the aftermath of the 2008
Global Financial Crisis (GFC), in anticipation of reviews of responses to the
COVID?19 emergency, noting similarities and differences between the two crises.
We examine 10 independent reviews of the Australian government's response to the
GFC with a particular focus on their nature and the context in which they
occurred. As a result, we identify five themes: when and how often reviews are
conducted; recognition of context; the need for clear program objectives;
explicit design principles; and governance. We develop a typology of independent
reviews that has three key and interrelated dimensions: purpose, timing, and
reviewer. We observe that there was patchwork coverage of the GFC measures, with
no single report providing a holistic assessment of what was achieved or lessons
learnt. We contend that, notwithstanding differences between crises, the typology
will aid understanding of the role, key issues, and contributions of reviews that
have already been, or will be, commissioned into COVID?19 and future emergency
economic stimulus measures.