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Structural Analysis of the Greek Economy

Author

Listed:
  • George Economakis
  • Maria Markaki
  • Alexios Anastasiadis

Abstract

The paper focuses on the “structural characteristics†of the Greek economy: domestic sectoral productive linkages, specialization profile, level of industrial and technological development, relative income elasticities of demand, international trade profile. Our analysis in these characteristics indicates that the Greek economy is a rather ‘‘extraverted†economy, within the EU frame. This “extraversion,†and not the labor costs, is the real cause of the Greek poor economic performance and low competitiveness. Input-output analysis confirms this suggestion.

Suggested Citation

  • 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.
    • Handle: RePEc:sae:reorpe:v:47:y:2015:i:3:p:424-445
    DOI: 10.1177/0486613414542779
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    References listed on IDEAS

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    Cited by:

    1. Andreas Bieler & Jamie Jordan & Adam David Morton, 2019. "EU Aggregate Demand As a Way out of Crisis? Engaging the Post‐Keynesian Critique," Journal of Common Market Studies, Wiley Blackwell, vol. 57(4), pages 805-822, July.
    2. Prodromos Chatzoglou & Dimitrios Chatzoudes & Zografia Petrakopoulou & Elena Polychrou, 2018. "Plant location factors: a field research," OPSEARCH, Springer;Operational Research Society of India, vol. 55(3), pages 749-786, November.
    3. Anna-Maria Kanzola, 2024. "The Knowledge Content of the Greek Production Structure in the Aftermath of the Greek Crisis," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 936-957, March.
    4. 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.
    5. Maria Markaki & George Economakis, 2016. "The ‘Key-Sectors’ of the Greek Economy and the Question of ‘Productive Restructuring’," Bulletin of Political Economy, Bulletin of Political Economy, vol. 10(2), pages 119-135, December.
    6. Markaki, Maria & Papadakis, Stelios, 2024. "Productive Structure Optimization under Macroeconomic Constraints based on Input-Output Analysis," Structural Change and Economic Dynamics, Elsevier, vol. 70(C), pages 91-105.

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    More about this item

    Keywords

    Greek economy; relative income elasticities of demand; productive diversification; input-output analysis; “extraverted†economy;
    All these keywords.

    JEL classification:

    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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