Lessons Learned on the Green Stimulus: Case Studies from the Global Financial Crisis

This report by Joel Jaeger, Michael I. Westphal, and Corey Park, November 2020, published by the World Resources Institute provides an overview of the green stimulus announced in 2008 and 2009, and then provides case studies of four of the economies that spent the most on measures green: United States, South Korea, China and the European Union. For each case study, the paper assesses how much was spent on green vs. polluting measures, how the stimulus was implemented, the impact on the economy and, in particular, on jobs, and the impact on greenhouse gas emissions. and other environmental results. The paper then briefly examines the differences between the global financial crisis and the COVID-19 crisis and presents recommendations for policymakers.