The Evolution of the Greek Economy

This book assesses the current state of the Greek economy and detects its development and growth prospects up to 2030. The analysis begins with 19th century Greece, addressing the repeated defaults that led to the formation of a dependent state, and the failed modernizing attempts. Then the book addresses current geostrategic dimensions as well as the current structure of institutions and culture in Greece. The second part presents the evolution of sustainability, governance, and inclusivity, as well as the evolution of culture in Greek society and insights into the production prototype. The third part of the book looks forward to what lays ahead for Greece up to 2030. It presents the theoretical background for two scenarios: the normal scenario (business as usual, including the effects of the recent Covid-19 pandemic) and the optimal scenario (a pro-growth scenario including increases of Total Factor Productivity through structural reforms). In presenting these scenarios, the book discusses issues ranging from a comparative analysis between Greece and the Eurozone, the developments in output gap and potential output, public debt, competitiveness, basic macroeconomic variables, a detailed analysis on investments, and inclusive growth.

Provides a summary of historical developments in the Greek economy Compares Greek economic forecasts up to 2030 Addresses how structural reforms will affect the Greek economy through the TFP

Auteur
Panagiotis E. Petrakis is Professor in the Department of Economics at National and Kapodistrian University of Athens, Greece, where he serves as Director of the Sector of International Economics and Development and Scientific Coordinator of Distance Education Training Programs. He was chairman of the Department of Economics at National and Kapodistrian University of Athens from 2005 to 2009. He is the author of numerous scientific articles and monographs and has extensive publications in recognized academic journals on economic development, entrepreneurship, and cultural background. Pantelis C. Kostis is Adjunct Lecturer of Economics at National and Kapodistrian University of Athens and the Hellenic Open University, Greece. His research has been published in distinguished international academic journals including Journal of Business Research, Economic Modelling and the Journal of Socio-Economics. He is also the co-author of several books regarding the European andthe Greek economy, and economic development and growth.

Contenu

1. A Brief Economic History of Repeated Defaults.- 2. The Institutional Evolution and the Failed Modernizing Attempts.- 3. The Geostrategic Settings, National Resources, and the Systemic Risks.- 4. The Formation of Idiosyncratic Structure of Institutions and Culture.- 5. Sustainable Development.- 6. Sustainable Governance.- 7. Inclusivity.- 8. Human Behaviors.- 9. Growth in the Greek Economy.- 10. Insights of the Production Prototype Change.- 11. The Requirements of a Long-Term View.- 12. The Long-term View of the Greek Economy under the Normal and the Optimal Pro-Growth Scenario (2020-2030).