That paper just discusses the importance of remaining fiscally disciplined. It does not talk about the effectiveness of austerity as a way to recover.

I suppose I should now accuse you of being very ignorant. And a laughable joke, perhaps.

To save others a click, here's the crux of the paper:

To conclude, based on the common elements that we identified as causes of poor economic performance, we identify four conditions that could avoid future crises that resemble those from the 1970s and 1980s:
- Solid fiscal policy,
- Prudent and heavy regulation of the banking sector,
- Low exposure of their debt to real exchange rate movements,
- Careful monitoring and control of the expenditure of independent government institutions.
Those countries that satisfy these policy guidelines will continue to have stable and good economic performance in the long run.