IDEAS home Printed from https://ideas.repec.org/a/bog/econbl/y2019i49p75-92.html
   My bibliography  Save this article

How do digital technologies drive Greece's economic growth? Opportunities and challenges

Author

Listed:
  • Maria Albani

    (Bank of Greece)

  • Sofia Anyfantaki

    (Bank of Greece)

  • Sophia Lazaretou

    (Bank of Greece)

Abstract

Digital transformation is a driver of economic growth by improving labour productivity, increasing competitiveness and exploiting the potential of e-commerce. Digital revolution is “a game changer” as it reshapes the way production, distribution and consumption are organised within firms and across industries and markets, thus making traditional production models obsolete. By leveraging its human capital stock, Greece can catch up with the other EU-28 countries and gain multiple advantages from digital technologies, such as higher total factor productivity, enhanced competitiveness and increased extroversion. The end result will be sustainable growth. This paper aims to present the digital performance of the Greek economy and society and discusses how digital technologies can contribute to Greece’s economic growth, with a particular focus on jobs, skills and the learning ecosystem. Given that FinTech is a driver of financial sector development, we also explore the implications of digitalisation for the Greek financial system. To this end, specific policy recommendations covering five policy areas are set out with a view to harnessing the emerging opportunities and ensuring that the benefits are shared by all.

Suggested Citation

  • Maria Albani & Sofia Anyfantaki & Sophia Lazaretou, 2019. "How do digital technologies drive Greece's economic growth? Opportunities and challenges," Economic Bulletin, Bank of Greece, issue 49, pages 75-92, July.
    • Handle: RePEc:bog:econbl:y:2019:i:49:p:75-92
    as

    Download full text from publisher

    File URL: https://www.bankofgreece.gr/BogEkdoseis/econbull201907.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Theodora Kosma & Pavlos Petroulas & Evangelia Vourvachaki, 2020. "What drives wage differentials in Greece: workplaces or workers?," Economic Bulletin, Bank of Greece, issue 52, pages 69-72, December.
    2. Nikos Vettas & Konstantinos Peppas & Sophia Stavraki & Michail Vasileiadis, 2020. "The contribution of Industry to the Greek economy: facts and prospects," Economic Bulletin, Bank of Greece, issue 52, pages 29-67, December.
    3. Ioannis Asimakopoulos & Athanasios P. Fassas & Dimitris Malliaropulos, 2020. "Does earnings quality matter? Evidence from the Athens Exchange," Economic Bulletin, Bank of Greece, issue 52, pages 93-112, December.
    4. Constantina Backinezos & Stelios Panagiotou & Evangelia Vourvachaki, 2020. "Multiplier effects by sector: an input-output analysis of the Greek economy," Economic Bulletin, Bank of Greece, issue 52, pages 7-28, December.
    5. Bunel, Simon & Bijnens, Gert & Botelho, Vasco & Falck, Elisabeth & Labhard, Vincent & Lamo, Ana & Röhe, Oke & Schroth, Joachim & Sellner, Richard & Strobel, Johannes & Anghel, Brindusa, 2024. "Digitalisation and productivity," Occasional Paper Series 339, European Central Bank.
    6. Consolo, Agostino & Cette, Gilbert & Bergeaud, Antonin & Labhard, Vincent & Osbat, Chiara & Kosekova, Stanimira & Anyfantaki, Sofia & Basso, Gaetano & Basso, Henrique & Bobeica, Elena & Ciapanna, Eman, 2021. "Digitalisation: channels, impacts and implications for monetary policy in the euro area," Occasional Paper Series 266, European Central Bank.

    More about this item

    Keywords

    4IR; digital technology and growth; education and skills; FinTech; Greece;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bog:econbl:y:2019:i:49:p:75-92. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anastasios Rizos (email available below). General contact details of provider: https://edirc.repec.org/data/boggvgr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.