COVID-19 policy responses: reflections on governmental financial resilience in South Asia
Journal of Public Budgeting, Accounting & Financial Management
ISSN: 1096-3367
Article publication date: 16 October 2020
Issue publication date: 24 November 2020
Abstract
Purpose
First, the paper examines the short-term fiscal and budgetary responses of the South Asian governments to the COVID-19 pandemic. Next, it brings out the implications of such responses, focusing on India, Nepal and Sri Lanka.
Design/methodology/approach
The paper is based on multiple secondary data sources, including the viewpoints of experts and government officials. Data are analysed using the ideas of financial resilience.
Findings
South Asian governments' response to the pandemic shows a gap in understanding the magnitude of the problem and in developing financial resilience. This paper points out the importance of avoiding austerity, becoming more cautious in accepting lending conditions, rethinking public sector accountability and revitalising mutual collaboration through SAARC for developing financial resilience, both at individual country and regional levels.
Originality/value
The study offers some insights on policy implications for South Asian governments in terms of building financial resilience to deal with future crises.
Keywords
Acknowledgements
We would like to thank Giuseppe Grossi, Ileana Steccolini and two reviewers for the helpful comments offered to us in the process of developing this paper.
Citation
Upadhaya, B., Wijethilake, C., Adhikari, P., Jayasinghe, K. and Arun, T. (2020), "COVID-19 policy responses: reflections on governmental financial resilience in South Asia", Journal of Public Budgeting, Accounting & Financial Management, Vol. 32 No. 5, pp. 825-836. https://doi.org/10.1108/JPBAFM-07-2020-0130
Publisher
:Emerald Publishing Limited
Copyright © 2020, Emerald Publishing Limited