ABSTRACT

The latest crisis that initiated in the developed economies has revived the interest oI
policymakers in the causes and leading indicators oI such occurrence. OIten, it is argued on the
issues oI whether the crisis generates Irom deterioration oI macro-economic indicators or it is a
consequence oI speculative attacks by the major players in the global economy. Currently, there
are Iew studies Iormulated on the very recent global crisis and we observe a keen attention on
observing growth and macro-economic variables associated to growth.
This paper examines the case oI Albania on Iiscal policy and monetary policy outcomes prior,
during and aIter the global crisis oI 2008-2010. With the data covering a period Irom 1992-2000,
2000-2009 and aIterwards, we make an exploratory attempt to analyze Iiscal policy and
monetary policy in coping with crisis and sustaining growth. Furthermore, it questions the
proposition that imported crisis shock enIorced policy revisions in Albanian economy. The
methodology employed in the research is Granger Causality in order to test the relationship between
Fiscal Policy and growth, Monetary Policy and growth and the joint policies together with overall growth
in the country.

Keywords: Albania, Economic Growth, Economic Crisis, Fiscal Policy, Monetary Policy