greek economy
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2022 ◽  
Vol 9 (1) ◽  
pp. 51-58
Author(s):  
Gregory T. Papanikos

This paper evaluates the effects of the Olympic Games of 2004 hosted in Athens on Greece’s Gross Domestic Product (GDP), as estimated in Papanikos (1999). The estimates were made in 1997 for a period of fourteen years, 1998-2011, based on various scenarios. During this period two events have had a great impact on GDP that could have been predicted in 1997. Firstly, Greece adopted the euro in 2002, and even though this was pretty much a possibility in 1997, but not of course a certainty, the most important effect of the euro would have come from its exchange value vis-a-vis major currencies of countries with Greece was trading. This included tourism. Despite what many economists thought at the time, the introduction of the euro was not accompanied by a devaluation, but by unprecedented overvaluation. This had a negative impact on Greek GDP. Secondly, the Great Recession hit the Greek economy hard starting in 2008. These two effects had a negative impact on Greek GDP, wiping out the expected positive effects of the Olympic Games. Keywords: Olympic Games, GDP, Athens 2004, euro, great recession


2022 ◽  
Vol 9 (1) ◽  
pp. 0-0

The impact of the Information and Technology (IT) sector on the countries’ innovation development has been recognized as crucial in prior and recent research studies. Moreover, firms’ innovativeness affects positively countries’ economies. Nevertheless, the global economic crisis of the last decade constituted a significant barrier to the development of country economies and had a negative effect on firms’ performance. Specifically, the negative consequences of the global crisis became harder for Southern Europe Countries. More specifically the Greek economy was suffered by an extended period of crisis with harder consequences than those of other European countries. The main purpose of this study was to examine the financial performance of Greek IT firms in the early years of crisis. Our findings have been relevant to those of previous studies which observed negative effects of the financial recession on firms profitability.


2021 ◽  
pp. 1-34
Author(s):  
André Diniz ◽  
Bernardo Guimaraes

Abstract The deleterious effect of debt restructuring on banks’ balance sheets and, consequently, on the economy as a whole has been a key policy issue. This paper studies how post-default fiscal policy interacts with this sovereign-bank loop and shape the response of a model economy. Calibration of the model matches characteristics of the Greek economy at the time of the bond exchange. Debt restructuring in place of higher lump-sum taxation or lower nonproductive government spending harms the economy even if no other cost of default is considered. However, the sovereign-debt loop is less costly to the economy than increases in labor or capital taxes to service debt. Even so, if fiscal policy is too responsive, a crowding-out effect inhibits the recovery of capital markets, hence a more conservative fiscal stance is desirable. Thus, how diabolic the post-default sovereign-bank loop is depends to a large extent on the way fiscal policy responds.


2021 ◽  
pp. 263-279
Author(s):  
Iordanis Katemliadis ◽  
Andreas Papatheodorou
Keyword(s):  

2021 ◽  
pp. 13-27
Author(s):  
Vasileios Vlachos ◽  
Aristidis Bitzenis

2021 ◽  
pp. 169-188
Author(s):  
Mark Clough QC ◽  
Efthymios Bourtzalas

2021 ◽  
Vol 13 (3) ◽  
Author(s):  
Adamantia Kehagia ◽  
Foteini Kyriazi

The impact of structural funds of the European Union (EU) on regional economic growth is a matter of both political and economic importance. The large and regular payments made across the EU to countries and regions within them were and are meant to promote various aspects of growth and development and to encourage structural changes that foster investments and economic reforms. But how much of these aims have they been achieved? In this paper we provide considerable empirical evidence that Greek regions have, for the most part, benefited by the various disbursements of EU structural funds. We shed partial light on where this funding went to and to how it potentially contributed to Greek growth but we also raise a number of questions about the viability of the current productive structure of the Greek economy and its over-reliance on tourism. Our results provide support on the efficacy of the payments but leave open the problem of where these payments should be allocated, the monitoring of their absorption and the end impact in the economic cycle within a country.


2021 ◽  
pp. 214-217
Author(s):  
Х.Д. Пасхалидис ◽  
Л.Д. Папаконстантину ◽  
С.С. Сотиропулос ◽  
Д.П. Петропулос ◽  
Д.Г. Таскос ◽  
...  

Виноградарство в Греции - старейшая отрасль, но в последние годы наблюдается сокращение площадей, предназначенных для производства винодельческой продукции. Производство и маркетинг вина - сильная промышленность в мировой экономике. Международный и внутренний рынки стандартизированных вин считаются высоко конкурентными и комплексными. История греческого вина охватывает чрезвычайно долгий период, самый продолжительный в мире с точки зрения непрерывного выращивания винограда и производства вин с незапамятных времен. Виноделие - один из важнейших секторов греческой экономики не только для внутреннего рынка напитков, но и для развития и продвижения традиционных греческих продуктов за рубежом в целом. В винодельческой отрасли в последние годы произошли структурные изменения, направленные на повышение конкурентоспособности греческих вин для занятия ими достойного места на международном рынке. В последние пять лет среди греческих винных компаний стали появляться тенденции к международной экстраверсии. Греция по производству вина занимает 12-е место в мире и 4-е в Европейском Союзе. В этой работе делается попытка составить карту «маршрута» вина с его разновидностями и объемами производства по всей Греции. Viticulture in Greece is the oldest, but in recent years there has been a reduction of areas intended for wine production. Wine production and marketing is a strong industry worldwide. The global and domestic market for standardized wine is considered to be complex and highly competitive. The history of Greek wine covers an extremely long period of time, the longest in the world, in terms of continuous cultivation of the vine and the timeless production of wines. The wine industry is one of the most important sectors of Greek economy not only for the domestic beverage market, but also for the development and promotion of Greek traditional products in general in foreign markets. In wine industry, structural changes have taken place in recent years aimed to increase the competitiveness of Greek wines, in order to gain a worthy position in the international market. Last five years, there has been a trend for international extroversion by Greek wine companies. Greece with wine production occupies 12 place in the world and 4 in the European Union. This work attempts to map the "route" of wine with its varieties and production quantities throughout Greece.


2021 ◽  
Vol 11 (3) ◽  
pp. 90
Author(s):  
Giorgos Meramveliotakis ◽  
Manolis Manioudis

The aim of this article is s to show that contrary to the common parlance and to the widespread belief that treats small business as “the backbone of the economy”, in the sense of being the prime motor of wealth and prosperity, therefore the underlying logic is what is good for small business will also help government achieves overall economic policy goals, the prevailing dominant idea that formulates and drives the Greek economic policy is quite the opposite. Based on textual analysis, from Greece’s Structural Adjustment Programs, to the various assessment reports, till the latest “Development Plan for the Greek Economy”, we attempt to reveal that the prevailing idea that penetrates the abovementioned texts is that “small is not beautiful”. Specifically, after indicating a policy paradox regarding the limited financial support that Greek small businesses received or expected to receive despite their vital importance to the Greek economy, we expose the “structural impediment” idea. According to the latter the existence of a large share of small business in the Greek economy is being considered as a structural impediment for economic growth and prosperity. The implication is a policy dictum that favours a form of an evolutionary natural selection process, whereby only those establishments successful enough to grow will be able to survive, thus the vast bulk of the remaining small firms will exit the market.


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