CitationChzhen, Yekaterina; Handa, Sudhanshu; Cantillon, Bea; & Nolan, Brian (2017). Introduction: Scope and Methods.. Cantillon, Bea; Chzhen, Yekaterina; Handa, Sudhanshu; & Nolan, Brian (Eds.) (pp. 1-7). Oxford, England: UNICEF.
AbstractThe 2008 financial crisis triggered the first contraction of the world economy in the post-war era. Although the global economy recovered by 2010, many industrialized countries remained in a cycle of low and uneven growth. By 2011, several countries were also facing a sovereign debt crisis. During the recession, amid falling wages and increasing unemployment, government capacity to address worsening social conditions was often constrained by mounting deficits. Following an initial round of expansionary counter-cyclical policy, the crisis itself put pressure on many governments to implement austerity measures. Thus social protection systems were under threat when they were most needed.
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