Conclusion

Abstract

We started this book by citing some of the commentators who saw the financial crisis as the cause of a general return of the state or the beginning of a new age of austerity. But the empirical analysis suggests otherwise, as the findings support neither of these sweeping claims. Not once was there a wholly uniform response across countries. Instead, what we find is a striking variety of policy reactions across space and time, which is illustrated in Table 7.1 in a highly condensed way.