Managing the Crisis: A Comparative Analysis of Economic Governance in 14 Countries

The global economic crisis has affected all major economies, even those with a sound financial sector and macroeconomic stability. While many analyses have been focused on stabilization and stimulus programs, the underlying quality of political decisionmaking and economic governance has yet to receive thorough attention.
This study offers 14 detailed country reports, analyzing the crisis response in advanced economies such as Germany, Sweden, the UK, and the United States, as well as in emerging markets in Brazil, Chile, China, Hungary, India, Indonesia, Russia, South Africa, South Korea, and Turkey.
The major world economies pursued different paths in terms of political priorities, strategic planning, speed and effectiveness in implementation, communication, and consultation. Accordingly, the effects of their crisis management differ greatly. By offering a critical comparative assessment of the various strategies employed and the different governance qualities exhibited, using a standardized set of criteria, this survey contributes to improving political learning and fostering the exchange of good practice.
Contributors include Sabine Donner, senior project manager; Hauke Hartmann, senior project manager; and Andrea Kuhn, project manager, all with Bertelsmann Stiftung.