A long-term critic of Labor's controversial economic stimulus package was paid more than $16,000 to deliver a Treasury commissioned paper downplaying its role in saving Australia from the worst of the global financial crisis.

Tony Makin's paper found there was "no evidence fiscal stimulus benefited the economy over the medium term" and had been counterproductive, concluding it had "worsened Australia's international competiveness and damaged industries in the internationally exposed sector, particularly manufacturing".

The decision to commission Professor Makin to write the paper for the Treasury Research Institute, which was "formally launched" on December 9, the same day his paper was published, surprised many given Treasury had previously censured Professor Makin for criticising the economic stimulus package during the GFC.

Labor's treasury spokesman Chris Bowen said its release seemed to have been designed to pre-empt calls for further stimulus in the wake of national accounts figures showing the economy going backwards.