In this paper, we deal with theoretical propositions and empirical evidence that are needed to explain the paradox of rapid GDP growth in the face of the dismal competitiveness of the Greek economy during 1995-2008. We show how Greece's economy structural weaknesses have hit the domestic economy...

We consider the relative effects of globalisation and regionalism in the context of recent developments in the world economy. We extent and advance the analysis of Chortareas and Pelagidis (2004) using the recently updated Penn World Tables data. This allows considering the recent ‘golden era'...

Last December, downtown Athens experienced three nights of street battles, arson, and looting that became headlines in the international press. We argue that the reasons for this extreme social turbulence are related to the regulatory and institutional rigidities that still prevail in Greece's...

Since the 1990s the Greek economy has posed a unique international paradox, combining relatively strong growth rates with a very weak performance on many other fronts ranging from poor labour and product market institutions and low competitiveness to poor environmental protection and high levels...

In the July-August Intereconomics' editorial note on Greece's accord with the creditors, Sebastian Dullien argues that “it is difficult to find anyone who honestly believes that the country's problems will be solved with this package”. He also emphasizes the critical issue of debt relief to...

The success of the European Union is remarkable. But the current economic crisis is severely testing support. It is affecting member nations in different ways, and for some the crisis has been painful. Without individual control over their economic policies, some nations are getting frustrated....

This chapter addresses the issue of institutional reforms for the euro area itself, elaborating on the notion and a project for a closer and more democratic union to heal economic asymmetries. This is critical for the southern euro area member-states and especially for the weakest economy among...

Much has been said about the results of the austerity program dictated in Greece by the ‘Troika'. The official creditors initially sanctioned an implementation of the agreed conditionality program (included in the Memorandum of Understanding that also provisioned the official loans to the...

In this Chapter is to give an overview of the relevant literature that also provides the necessary starting point to investigate the relationship mentioned above between policy decisions and corruption. Then in section 3.3 we examine briefly what motivates agents to engage in activities that we...

Chapter 3 of the book Greece From exit to recovery?, Brookings Institution Press 2014, investigates the relationship between key aspects of the institutional environment, infrastructure, and qualitative aspects of the education system. A literature review is paired with the examination of key...