01162pab a2200133 454500008004000000100001900040245007100059260000900130300001300139362001200152520082400164650002300988773001701011180718b2010   xxu||||| |||| 00| 0 eng d  aNair, Manju S.  aPolicy response to the global financial crisis theory and practice  c2010  ap.41-51.  aJan-Mar  aWhen the world entered into the recent economic recession about a year age, many governments have commented and predicted that it would take several years, at the least to outride this economic recession. However latest reports show that the world is about to emerge out of the current economic recession in record time. The macro economic activities and policies adopted by various governments have emerged successful in preventing countries from a prolonged recession. The policies adopted include monetary policy which regulates the money supply and interest rate and fiscal policy which concerns government spending and taxation. The present paper analyses the macro economic activities undertaken by governments to  combat recession during the last one year in the backdrop of theoretical exposition. - Reproduced.  aEconomic recession  aISDA Journal