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Determinants of the receipts from shipping services: the case of Greece

Author

Listed:
  • Zacharias Bragoudakis

    (Bank of Greece)

  • Stelios Panagiotou

    (Bank of Greece)

Abstract

Despite the fact that receipts from the provision of shipping services recorded on the Greek Balance of Payments represent nearly half of the total receipts of services rendered, the factors that determine them have not been explored for the Greek economy. Therefore, the main purpose of this paper is to investigate the determinants of shipping receipts in the Greek economy and to provide evidence for their impact on the Greek balance of payments. The results of the econometric methodology using an error correction model (ECM) provide evidence of the existence of a stable long-run relationship between the shipping receipts, the freight rates and outstanding credit to shipping companies.

Suggested Citation

  • Zacharias Bragoudakis & Stelios Panagiotou, 2010. "Determinants of the receipts from shipping services: the case of Greece," Economic Bulletin, Bank of Greece, issue 34, pages 41-55, September.
    • Handle: RePEc:bog:econbl:y:2010:i:34:p:41-55
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    File URL: https://www.bankofgreece.gr/BogEkdoseis/econbull201009.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    Balance of Payments; Current Account; Maritime Services; Maritime Economics; Error Correction Model; Time Series Techniques; Forecasting.;
    All these keywords.

    JEL classification:

    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • E0 - Macroeconomics and Monetary Economics - - General
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • F0 - International Economics - - General
    • L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

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