In tackling the question of effectiveness, Sangsubhan and Basris consider revenue
and expenditure-based stimulus measures. In both Indonesia and Thailand, the relatively
lower efficacy of expenditure-type measures stems from their longer implementation
periods. Delays in the absorption of expenditure are becoming increasingly common
among the major ASEAN economies due to delays in absorption, and a greater demand
for rigorous public resource management and accountability, as well as tighter regulatory
and environmental standards for large investment projects. Despite the importance of
strategic fiscal spending in emerging markets in the form of gross fixed capital formation.
and infrastructure investment, there is a risk that revenue-based stimulus is preferred to
expenditure-based stimulus on account of this perceived ineffectiveness. As pointed out
by Budina and Tuladhar (2010),these longer-term investments tend to be overlooked in
favour of stimulus measures that can be more quickly absorbed into the real economy,
but have only short-term effects in boosting consumption. Policy measures such as the
improvement of land acquisition laws need to be explored even in peacetime.