In this paper, we deal with some pieces of evidence that are necessary to explain the paradox of rapid GDP growth despite the dismal competitiveness of the Greek economy during 1995-2008. It is shown how the structural weaknesses of the Greek economy have hit the domestic economy investigating...

In this paper, we deal with some pieces of evidence that are necessary to explain the paradox of rapid GDP growth despite the dismal competitiveness of the Greek economy during 1995-2008. It is shown how the structural weaknesses of the Greek economy have hit the domestic economy investigating...

In this paper we have built a model of financial intermediation that explains the GDP variability pattern of an economy during the development process. In our model, per capita is more volatile in the middle-income economies than in both low and high-income economies. We show that, if the model...