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EU Participation and the External Trade of Greece: An Appraisal of the Evidence

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Abstract

This paper investigates the trade effects caused by the accession of Greece to the EU. A large part of the analysis is in terms of trade flows disaggregated by the 21 categories of the Greek Tariff Schedule. These series are original data sets which have been constructed by the author to be used here for the first time. The main message is that after 1981 events took a turn closer to the pessimistic pre-accession predictions. Our findings indicate that during the post-integration period the external trade of Greece has been reoriented towards the EU countries and Greece lost part of its comparative advantage in those sectors in which such an advantage exists. We also suggest that as far as imports are concerned, EU participation has caused gross trade creation for imports from the EU countries and gross trade diversion for imports from the Rest of the World. As far as exports are concerned, the results indicate that EU participation has caused only a modest increase in Greek exports to the EU market.
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  • M.G. Arghyrou, 1998. "EU Participation and the External Trade of Greece: An Appraisal of the Evidence," Working Papers 381, Queen Mary University of London, School of Economics and Finance.
    • Handle: RePEc:qmw:qmwecw:381
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    1. Ali M. El-Agraa, 1989. "The Theory and Measurement of International Economic Integration," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-10203-7, December.
    2. Ali M. El-Agraa, 1989. "International Economic Integration," Palgrave Macmillan Books, in: International Trade, chapter 11, pages 151-193, Palgrave Macmillan.
    3. Michael Arghyrou, 2000. "EU participation and the external trade of Greece: an appraisal of the evidence," Applied Economics, Taylor & Francis Journals, vol. 32(2), pages 151-159.
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    Cited by:

    1. Irena Lacka & Janusz Myszczyszyn & Sylwia Golab & Beata Bedzik & Blazej Supron, 2020. "Correlation between the Level of Economic Growth and Foreign Trade: The Case of the V4 Countries," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 657-678.
    2. Koukouritakis, Minoas, 2005. "EU Accession Effects on the Demand for Manufactures: the Case of Greece," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 58(4), pages 471-488.
    3. Pascal L. Ghazalian, 2016. "Processed Food Trade of Greece with EU and Non-EU Countries: An Empirical Analysis," International Journal of Food and Beverage Manufacturing and Business Models (IJFBMBM), IGI Global, vol. 1(2), pages 15-30, July.
    4. Oltheten, Elisabeth & Pinteris, George & Sougiannis, Theodore, 2003. "Greece in the European Union: policy lessons from two decades of membership," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(5), pages 774-806.
    5. Minoas Koukouritakis, 2004. "EU Accesssion effects on Trade Flows: The Case of Greece," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 2(2), pages 61-79.
    6. Farha Fatema & Mohammad Monirul Islam, 2020. "Driving Forces of Marine Fisheries and Seafood Export of Bangladesh: Augmented Gravity Model Approach," Asian Journal of Economic Modelling, Asian Economic and Social Society, vol. 8(2), pages 106-122, June.
    7. Minoas Koukouritakis, 2003. "Trade Effects due to the EU Accession: The case of Greece," University of Cyprus Working Papers in Economics 5-2003, University of Cyprus Department of Economics.
    8. Minoas Koukouritakis, 2003. "EU Accession Effects on Imports of Manufactures: The case of Greece," University of Cyprus Working Papers in Economics 2-2003, University of Cyprus Department of Economics.
    9. Minoas Koukouritakis, 2006. "EU Accession Effects on Export Prformance: The Case of Greece," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 4(2), pages 147-166.
    10. Ewa Cieślik, 2019. "Looking for the sectoral interdependence: evidence from the Visegrad countries and China," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(4), pages 2041-2062, July.
    11. Hajra Manzoor & Parvez Ahmad Mir, 2023. "General Equilibrium Trade Policy Analysis among One Belt One Road Nations Using Structural Gravity Framework," Foreign Trade Review, , vol. 58(4), pages 484-503, November.
    12. Michael Arghyrou, 2000. "EU participation and the external trade of Greece: an appraisal of the evidence," Applied Economics, Taylor & Francis Journals, vol. 32(2), pages 151-159.
    13. Iannis A. Mourmouras & Michael G. Arghyrou, 1999. "Monetary Policy at the European Periphery. Greek Experience and Lessons for Transition Economies," CERT Discussion Papers 9910, Centre for Economic Reform and Transformation, Heriot Watt University.

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