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From dictatorship to crisis: The evolution of top income shares in Greece

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  • Kostas Chrissis

    (Hellenic Statistical Authority)

  • Franciscos Koutentakis

    (UOC - University of Crete [Heraklion], Hellenic Parliamentary Budget Office)

Abstract

The paper calculates the top income shares in Greece from 1967 (the seizure of power by the military dictatorship) until 2017 (the aftermath of the debt crisis). This long-run perspective allows us to examine the relationship be- tween income distribution and institutional transformations, namely democracy, finance and crisis. We find that the evolution of top income shares broadly corresponds to discrete political and economic arrangements, in particular (a) transition to democracy did not affect the income shares of the top decile, whereas social democracy had a signi_cant negative impact (b) _financial development and liberalization substantially increased the top decile shares (c) debt crisis, consolidation and recession were beneficial for the up- per ranks of the top decile.

Suggested Citation

  • Kostas Chrissis & Franciscos Koutentakis, 2019. "From dictatorship to crisis: The evolution of top income shares in Greece," Working Papers hal-02876984, HAL.
    • Handle: RePEc:hal:wpaper:hal-02876984
    Note: View the original document on HAL open archive server: https://pjse.hal.science/hal-02876984v1
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    References listed on IDEAS

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    1. Anthony B. Atkinson & Salvatore Morelli, 2011. "Economic crises and Inequality," Human Development Research Papers (2009 to present) HDRP-2011-06, Human Development Report Office (HDRO), United Nations Development Programme (UNDP).
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    Cited by:

    1. Thomas Blanchet & Lucas Chancel & Amory Gethin, 2022. "Why Is Europe More Equal than the United States?," American Economic Journal: Applied Economics, American Economic Association, vol. 14(4), pages 480-518, October.

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    More about this item

    Keywords

    Greece; top incomes; income distribution; institutional transformations; democracy; finance; crisis; dictatorship;
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