Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/320165 
Year of Publication: 
2021
Citation: 
[Journal:] The European Journal of Comparative Economics (EJCE) [ISSN:] 1824-2979 [Volume:] 18 [Issue:] 1 [Year:] 2021 [Pages:] 23-47
Publisher: 
University Carlo Cattaneo (LIUC), Castellanza
Abstract: 
The discussion on the causes of the Greek crisis has focused on the twin deficits: the fiscal and current-account deficit. The objective of this paper is to examine how the twin deficits came about implicating structural features of the Greek economy which contributed to the loss in competitiveness. The paper uses evidence on labor market outcomes and business demographics together with detailed information on product and labor market institutions to support the argument that these institutions played a role in the premature deindustrialization of the economy and in shaping a structure binding the economy to a low productivity level. These structural characteristics are related not only to cost elements but also to the capacity of the economy to deliver.
Subjects: 
Competitiveness
Institutions
Wage determination
Product market rigidities
Productivity
Self-employment
Deindustrialisation
JEL: 
J2
J31
J5
L11
O43
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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