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Published online by Cambridge University Press: 07 May 2025
A unique feature of the global policy response to the 2008-9 recession is that, as part of their efforts to boost aggregate demand and growth, some governments adopted expansionary policies that also incorporated a sizable “green fiscal” component. Such measures were wide ranging, including support for renewable energy, carbon capture and sequestration, energy efficiency, public transport and rail, and improving electrical grid transmission, as well as other public investments and incentives aimed at environmental protection.