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Exporting and performance: evidence from Greek firms

Gibson,  Heather D., Pavlou, Georgia, (2017), “Exporting and performance: evidence from Greek firms”, Bank of Greece, June This paper explores differences in performance between firms that export and those that do not. With only a few exceptions, exporters have characteristic which suggest “better” performance than non-exporters, controlling for observed and unobserved heterogeneity. This paper aims to provide evidence on the differences between exporters and non-exporters in terms of labour productivity and …Read More

Europe’s Unserious Plan for Greece

Bloomberg View, (2017), “Europe’s Unserious Plan for Greece”, 21 June The deal struck last week between Greece and its euro-zone creditors is business as usual — and that’s not a good thing. This protracted game of “extend and pretend” serves nobody’s long-term interests: not those of the Greek government, the International Monetary Fund or, most of all, the people of Greece. Relevant Posts Gros, Daniel, (2017), «Debt forgiveness is not …Read More

Is Greece’s labour market bouncing back?

Darvas, Zsolt, (2017), “Is Greece’s labour market bouncing back?”, Bruegel, 14 June After rapid increases in unemployment and large wage reductions, Greece’s labour market is showing signs of recovery. Certain sectors of the economy are showing strong employment growth, which could hint at a broader economic recovery. Relevant Posts Eurostat/Unemployment rates in the EU regions ranged from 2.1% to 31.3%/27 April 2017 Monokroussos , Platon, (2017), «Greece: 2017 Economic Outlook», …Read More

The effect of card payments on vat revenue in Greece

Hondroyiannis, George, Papaoikonomou, Dimitrios, (2017), “The effect of card payments on vat revenue in Greece”, Bank of Greece Working Paper 225, May The effect of card payments on VAT revenue performance in Greece is investigated using quarterly observations on card transactions during 2002q1-2016q2. Timevarying-coefficient methods are employed, in order to study the role of increasing card payments after the imposition of cash restrictions in July 2015. We find that (i) …Read More

New Pact for Europe National Report GREECE

ELIAMEP, (2017), “New Pact for Europe National Report GREECE”, ELIAMEP, June This report is inspired by the discussions of the Greek National Reflection Group enriched by exchanges with National Reflection Groups from France and Estonia. It reflects on the ‘state of the Union’ from a national perspective and discusses the main challenges the EU and its members are facing, taking into account both the European and national perspective. Finally, it proposes …Read More

Infrastructure in Greece-Funding the future

PwC, (2017), “Infrastructure in Greece-Funding the future”, March In Greece, the infrastructure investments were affected by the deep economic recession. The infrastructure investment gap is between 0.8 pp of GDP (against the European average) or 1.4 pp of GDP (against historical performance) translating into 1.1% or € 2bln new spending per year. Infrastructure investments have an economic multiplier of 1.8x** which can boost demand of other sectors. The construction sector will …Read More

From recession to anemic recovery-Investments in Greece

PWC, (2017), “From recession to anemic recovery-Investments in Greece”, 1 June Investments in Greece are historically connected to GDP and from 2009 onwards they collapsed. Historically, Greece has not attracted systematically significant foreign funds and was dependent on domestic capital, leading to an investment gap with negative impact on competitiveness and growth. The systematic inability of Greece to attract significant foreign investments is crucial, since Greece will have to bridge …Read More

The emigration of Greeks and diaspora engagement policies for economic development

Cavounidis , Jennifer, (2017), “The emigration of Greeks and diaspora engagement policies for economic development”, ΚΕPE The Global Economic and Financial Crisis has taken a heavy toll on the Greek economy. One of the direst aspects of the crisis has been the brain drain and the brain waste of the most talented of the young generation. The economy has to cope with the emigration of important segments of the labour force, …Read More

How much relief is actually needed to restore public debt sustainability

Monokroussos, Platon, (2017), “How much relief is actually needed to restore public debt sustainability”, Eurobank, 4 May The material presented herein is based on a number of published official documents that include, inter alia, the European Commission’s compliance report on the first review of Greece’s Third Economic Adjustment Programme (June 2016) and the IMF’s Article IV consultation report (February 2017). The study attempts a replication of the debt sustainability analyses (DSA) …Read More

An investigation of the root causes of the Greek crisis

Hyppolite, Paul-Adrien , (2017), “An investigation of the root causes of the Greek crisis”,  VoxEU, 27 May The Greek crisis is typically seen as a sovereign debt crisis. Using a new dataset, this column explores the dynamics of national wealth accumulation in Greece over the past two decades. It argues that, despite certain idiosyncrasies, the Greek crisis can be better characterised as a balance of payments crisis. This implies that Greece shouldn’t be …Read More