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COVID-19 policy responses: reflections on governmental financial resilience in South Asia

Bedanand Upadhaya (Essex Business School, University of Essex, Colchester, UK)
Chaminda Wijethilake (Essex Business School, University of Essex, Colchester, UK)
Pawan Adhikari (Essex Business School, University of Essex, Colchester, UK)
Kelum Jayasinghe (Essex Business School, University of Essex, Colchester, UK)
Thankom Arun (Essex Business School, University of Essex, Colchester, UK)

Journal of Public Budgeting, Accounting & Financial Management

ISSN: 1096-3367

Publication date: 16 October 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

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Publisher

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Emerald Publishing Limited

Copyright © 2020, Emerald Publishing Limited

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