IDEAS home Printed from https://ideas.repec.org/a/rom/terumm/v19y2024i4p5-27.html
   My bibliography  Save this article

Examining The Cross-Industry Relations In The Greek Economy During The Economic Crisis Using I-O Analysis

Author

Listed:
  • Serafeim POLYZOS

    (Department of Planning and Regional Development, University of Thessaly, 382 21 Volos, Greece)

  • Dimitrios KANTIANIS

    (Department of Economic and Regional Development, Panteion University, 176 71 Athens, Greece)

  • Thomas KRABOKOUKIS

    (Department of Planning and Regional Development, University of Thessaly, 382 21 Volos, Greece)

Abstract

The crisis that the Greek economy went through during the decade 2010-2020 had certain characteristics, which are worth studying, since they can be exploited in the future. The structural characteristics and weaknesses of the Greek economy are mentioned in the literature among the main factors that caused the economic crisis or did not allow a quick “exit†from it. The effectiveness of the interventions that seek to stimulate economic development depends to a large extent on the understanding of the general characteristics of the economy and mainly of the interconnections of the productive sectors. The study of some of the structural characteristics of the Greek economy during the 2nd period of the crisis, i.e. the period 2015-2020, is the aim of this article. Initially, the evolution of some basic macroeconomic features of the Greek economy is analyzed. Then, occurred structural changes during the above period are calculated using the Input-Output (I-O) Tables of the years 2015 and 2020, which provide a satisfactory framework for describing the interconnections between productive sectors of an economy. The analysis of the structural elements of the Greek economy during the period of the economic crisis can provide important information to be used for a successful future implementation of economic development policies. In particular, the information provided by the I-O Analysis is particularly important, since it satisfactorily describes the interconnection and operation of the productive sectors of the economy.

Suggested Citation

  • Serafeim POLYZOS & Dimitrios KANTIANIS & Thomas KRABOKOUKIS, 2024. "Examining The Cross-Industry Relations In The Greek Economy During The Economic Crisis Using I-O Analysis," Theoretical and Empirical Researches in Urban Management, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 19(4), pages 5-27, November.
  • Handle: RePEc:rom:terumm:v:19:y:2024:i:4:p:5-27
    as

    Download full text from publisher

    File URL: https://um.ase.ro/v19i4/1.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Georgios P. Kouretas & Prodromos Vlamis, 2010. "The Greek Crisis: Causes and Implications," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(4), pages 391-404.
    2. Lenzen, Manfred, 2003. "Environmentally important paths, linkages and key sectors in the Australian economy," Structural Change and Economic Dynamics, Elsevier, vol. 14(1), pages 1-34, March.
    3. Georgios P. Kouretas & Prodromos Vlamis, 2010. "The Greek Crisis: Causes and Implications," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(4), pages 391-404, December.
    4. Triantafyllos PNEVMATIKOS & Serafeim POLYZOS & Dimitrios TSIOTAS, 2019. "Assessing The Structural Changes In The Greek Economy For The Period Prior To Economic Crisis," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(3), pages 69-82, December.
    5. George Economakis & Maria Markaki & Alexios Anastasiadis, 2015. "Structural Analysis of the Greek Economy," Review of Radical Political Economics, Union for Radical Political Economics, vol. 47(3), pages 424-445, September.
    6. Serafeim Polyzos & Spyros Sofios, 2008. "Regional Multipliers, Inequalities and Planning in Greece," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 6(1), pages 53-77.
    7. Christodoulakis, Nicos, 2013. "From Grexit to Growth: On Fiscal Multipliers and how to End Recession in Greece," National Institute Economic Review, National Institute of Economic and Social Research, vol. 224, pages 66-76, May.
    8. Symeon Mavridis, 2018. "Greece’s Economic and Social Transformation 2008–2017," Social Sciences, MDPI, vol. 7(1), pages 1-14, January.
    9. Serafeim POLYZOS & Dimitrios TSIOTAS, 2020. "Measuring Structural Changes Of The Greek Economy During The Period Of Economic Crisis," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 12(2), pages 5-24, June.
    10. Jan Oosterhaven, 2012. "Adding Supply-Driven Consumption Makes The Ghosh Model Even More Implausible," Economic Systems Research, Taylor & Francis Journals, vol. 24(1), pages 101-111, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Serafeim POLYZOS & Dimitrios TSIOTAS, 2020. "Measuring Structural Changes Of The Greek Economy During The Period Of Economic Crisis," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 12(2), pages 5-24, June.
    2. Vasileios PAPADIMITRIOU & Serafeim POLYZOS & Dimitrios TSIOTAS, 2023. "Renewable Energy Project Appraisal Using The Real Options Methodology," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 85-96, June.
    3. Oosterhaven, Jan, 2017. "Key Sector Analysis," Research Report 17015-GEM, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    4. Michael Humavindu & Jesper Stage, 2013. "Key Sectors of the Namibian Economy," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 2(1), pages 1-15, December.
    5. Kyrkopoulou, Eleni & Louka, Alexandros & Fabbe, Kristin, 2024. "Economic crisis and crime: Money under the mattress during financial destabilization," Journal of Policy Modeling, Elsevier, vol. 46(3), pages 514-529.
    6. Sirkka Koskela & Tuomas Mattila & Riina Antikainen & Ilmo Mäenpää, 2013. "Identifying Key Sectors and Measures for a Transition towards a Low Resource Economy," Resources, MDPI, vol. 2(3), pages 1-16, July.
    7. Phillip Anthony O’Hara, 2011. "International Subprime Crisis and Recession: Emerging Macroprudential, Monetary, Fiscal and Global Governance," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(1), pages 1-17, March.
    8. Hoa Thi Nguyen & Naoya Kojima & Akihiro Tokai, 2019. "An input–output linear programming model for assessing climate policy considering economic growth," Environment Systems and Decisions, Springer, vol. 39(1), pages 34-48, March.
    9. Stanislav Shmelev & Harrison Roger Brook, 2021. "Macro Sustainability across Countries: Key Sector Environmentally Extended Input-Output Analysis," Sustainability, MDPI, vol. 13(21), pages 1-46, October.
    10. Wei Yang & Junnian Song, 2019. "Depicting Flows of Embodied Water Pollutant Discharge within Production System: Case of an Undeveloped Region," Sustainability, MDPI, vol. 11(14), pages 1-15, July.
    11. Debrupa Chakraborty & Joyashree Roy, 2015. "Ecological footprint of paperboard and paper production unit in India," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 17(4), pages 909-921, August.
    12. David Font Vivanco & Ranran Wang & Sebastiaan Deetman & Edgar Hertwich, 2019. "Unraveling the Nexus: Exploring the Pathways to Combined Resource Use," Journal of Industrial Ecology, Yale University, vol. 23(1), pages 241-252, February.
    13. Martínez-García Miguel Á. & Cámara Ángeles, 2022. "Impact of an Economic Crisis on Youth Employment: Evidence from 2008 Financial Crisis in Spain," Economics - The Open-Access, Open-Assessment Journal, De Gruyter, vol. 16(1), pages 276-287, January.
    14. Scandizzo, Pasquale Lucio & Ferrarese, Cataldo, 2015. "Social accounting matrix: A new estimation methodology," Journal of Policy Modeling, Elsevier, vol. 37(1), pages 14-34.
    15. Guarini, Giulio & da Costa Oreiro, José Luis, 2023. "Ecological transition and structural change: A new-developmentalist analysis," Socio-Economic Planning Sciences, Elsevier, vol. 90(C).
    16. repec:dgr:rugsom:13017-gem is not listed on IDEAS
    17. Ahmad, Wasim & Sehgal, Sanjay & Bhanumurthy, N.R., 2013. "Eurozone crisis and BRIICKS stock markets: Contagion or market interdependence?," Economic Modelling, Elsevier, vol. 33(C), pages 209-225.
    18. Wenxiang Peng & Yutao Lei & Xuan Zhang, 2023. "Analysis of China’s High-Carbon Manufacturing Industry’s Carbon Emissions in the Digital Process," Sustainability, MDPI, vol. 15(20), pages 1-35, October.
    19. Wang, Yuan & Wang, Wenqin & Mao, Guozhu & Cai, Hua & Zuo, Jian & Wang, Lili & Zhao, Peng, 2013. "Industrial CO2 emissions in China based on the hypothetical extraction method: Linkage analysis," Energy Policy, Elsevier, vol. 62(C), pages 1238-1244.
    20. Constantin Gurdgiev & Brian M. Lucey & Ciarán Mac an Bhaird & Lorcan Roche-Kelly, 2011. "The Irish Economy: Three Strikes and You’re Out?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(1), pages 19-41, March.
    21. Xanthippi Chapsa & Athanasios L. Athanasenas & Nikolaos Tabakis, 2019. "Real Convergence in EU-15: A Comparative Analysis of North versus South Europe," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 3-21.

    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:rom:terumm:v:19:y:2024:i:4:p:5-27. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Colesca Sofia (email available below). General contact details of provider: https://edirc.repec.org/data/ccasero.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.