IDEAS home Printed from https://ideas.repec.org/p/hal/wpaper/hal-02876984.html
   My bibliography  Save this paper

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

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: https://pjse.hal.science/hal-02876984v1/document
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    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).
    Full references (including those not matched with items on IDEAS)

    Citations

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


    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.

    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. Till Treeck, 2014. "Did Inequality Cause The U.S. Financial Crisis?," Journal of Economic Surveys, Wiley Blackwell, vol. 28(3), pages 421-448, July.
    2. Pablo García S. & Camilo Pérez N., 2017. "Desigualdad, inflación, ciclos y crisis en Chile," Estudios de Economia, University of Chile, Department of Economics, vol. 44(2 Year 20), pages 185-221, December.
    3. Liotti, Giorgio, 2020. "Labour market flexibility, economic crisis and youth unemployment in Italy," Structural Change and Economic Dynamics, Elsevier, vol. 54(C), pages 150-162.
    4. Franciscos Koutentakis & Kostas Chrissis, 2022. "Top Income Shares in Greece From Dictatorship to Crisis: 1967–2017," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 68(3), pages 653-666, September.
    5. Jlenia Di Noia, 2024. "When firms buy corporate bonds: an agent-based approach to credit within firms," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 19(4), pages 689-725, October.
    6. Daniel Béland & Alex Jingwei He & M Ramesh, 2022. "COVID-19, crisis responses, and public policies: from the persistence of inequalities to the importance of policy design [The impact of COVID-19 on gender equality]," Policy and Society, Darryl S. Jarvis and M. Ramesh, vol. 41(2), pages 187-198.
    7. Sebastian Leitner, 2013. "Analysis of Short and Medium Term Crisis Effects on Welfare and Poverty in SEE: Stress Testing Bulgarian and Romanian Households," wiiw Balkan Observatory Working Papers 111, The Vienna Institute for International Economic Studies, wiiw.
    8. Rémi Bazillier & Jérôme Hericourt, 2017. "The Circular Relationship Between Inequality, Leverage, And Financial Crises," Journal of Economic Surveys, Wiley Blackwell, vol. 31(2), pages 463-496, April.
    9. Peña, Guillermo, 2016. "The determinants of banking crises: Further evidence," MPRA Paper 70093, University Library of Munich, Germany.
    10. Chiara Mussida & Maria Laura Parisi, 2016. "The effect of economic crisis on regional income inequality in Italy," DISCE - Quaderni del Dipartimento di Scienze Economiche e Sociali dises1614, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    11. Christian A. Belabed, 2016. "Inequality and the New Deal," IMK Working Paper 166-2016, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    12. Zakaria Babutsidze & Maurizio Iacopetta, 2016. "Innovation, growth and financial markets," Journal of Evolutionary Economics, Springer, vol. 26(1), pages 1-24, March.
    13. Luigi Mastronardi & Aurora Cavallo, 2020. "The Spatial Dimension of Income Inequality: An Analysis at Municipal Level," Sustainability, MDPI, vol. 12(4), pages 1-18, February.
    14. Elisa Palagi & Mauro Napoletano & Andrea Roventini & Jean-Luc Gaffard, 2017. "Inequality, Redistributive Policies and Multiplier Dynamics in an Agent-based Model with Credit Rationing," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 3(3), pages 367-387, November.
    15. Boris Cournède & Oliver Denk & Peter Hoeller, 2015. "Finance and Inclusive Growth," OECD Economic Policy Papers 14, OECD Publishing.
    16. de Haan, Jakob & Sturm, Jan-Egbert, 2017. "Finance and income inequality: A review and new evidence," European Journal of Political Economy, Elsevier, vol. 50(C), pages 171-195.
    17. Contreras, Salvador & Ghosh, Amit & Hasan, Iftekhar, 2023. "The effect of bank failures on small business loans and income inequality," Journal of Banking & Finance, Elsevier, vol. 146(C).
    18. Bruno Ćorić & Rangan Gupta, 2023. "Economic disasters and inequality: a note," Economic Change and Restructuring, Springer, vol. 56(5), pages 3527-3543, October.
    19. Christopher T. Whelan & Brian Nolan & Bertrand Maitre, 2017. "Polarization or “Squeezed Middle” in the Great Recession?: A Comparative European Analysis of the Distribution of Economic Stress," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 133(1), pages 163-184, August.
    20. Alberto Cardaci & Francesco Saraceno, 2017. "Inequality and Imbalances: a Monetary Union Agent-Based Model," SciencePo Working papers Main hal-03455341, HAL.

    More about this item

    Keywords

    Greece; top incomes; income distribution; institutional transformations; democracy; finance; crisis; dictatorship;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:hal:wpaper:hal-02876984. 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: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    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.