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1Rashmi Shukla is an FPM Scholar in the Economics Department, Indian Institute of Management, Indore, MP, India. She can be reached at f12 rashmis@iimidr.ac.in
Evolution of macroeconomic policies is subject to various economic crises, those have paved their own opportunities and challenges for policy makers. Opportunities let the policy makers to inquire about the present system and challenges ask shifts in the policy responses, causing some restructuring of the prevailing economic systems. Since the Bretton woods era, with increasing nexus among global economies, every economic crisis requires a global policy response. It is over 5 years to 2008 financial crisis and all around the world, policy makers are still struggling to chart out the next policy plans. This paper analyses the trends of policy responses with subsequent world economic crises and explains their effects on economic growth. This paper scrutinises the 2008 financial crisis with respect to emerging and developed economies global inter-linkages. The study focuses on changes in Indian and Chinese economic policies with respect to global happenings and the subsequent impact of these changes on respective economic growth
Economic crisis, Policy response, Economic Growth, Macroeconomic Policies, Emerging Economies India, China
JEL Classification: G01, G18, E52, E62
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