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The purpose of this paper is to use socioeconomic indicators for analyzing convergence within Greece at regional (NUTS II) and prefecture levels (NUTS III) since 1960. We use two alternative approaches. The first one is based on the coefficient of variation and the second one on quality of life rankings. We confirm the decline of regional inequalities in Greece, with the exclusion of the 1980s. Regions with increased tourist and trade activity are also regions with high quality of life. Border regions are usually the laggards of social and economic development.

The executive summary provides an overview of the Greek economic outlook. It highlights the recent upgrade of Greek government bonds to investment grade and the impressive performance of the stock market. The summary also mentions the ongoing interest rate hikes by the ECB, which are affecting the bond market and borrowing costs for the Greek government. It discusses the decline in energy prices and the deceleration of inflation internationally, while noting that inflationary pressures remain strong in certain sectors. The summary acknowledges the economic consequences of recent natural disasters in Greece and the efforts to support affected areas. It mentions the projected growth rate of Greece's real GDP for 2023 and the risks to the country's economic outlook. The summary also touches on the improvement in the labor market and the need to address economic inequalities. [Extracted from the article]

This paper discusses the effectiveness of EU economic measures towards the pandemic crisis in the case of Greece. As the pandemic crisis was an exogenous and symmetric crisis, EU member states decided to take supply and demand side measures to tackle economic recession. Not only the Recovery plan for Europe (NGEU), but also the Escape Clause, as well as non-standard monetary measures, were implemented in order to achieve growth. Furthermore, fiscal expansion, as well as common debt extraction, using green and social bonds led to higher government spending and sovereign debt. The paper's research question is "Could fiscal expansion mitigate the economic consequences of pandemic crisis?" In other worlds, the research gap which this paper tries to fill is that for the contemporary EU response to two different crises, the economic and the pandemic. Our analysis, by using a comparative approach, shows that government spending and fiscal expansion is effective in the short-run, as the temporary measures led to higher GDP growth rates and lower unemployment rates, but in the long-run demand side measures led to higher inflation and higher sovereign debt. [ABSTRACT FROM AUTHOR]

One of the most important problems facing Greece is the long-term and high-level unemployment rate. The Economic Adjustment Programmes (EAPs) focused on the supply side of the economy, aiming at the adjustment of prices and wages, draw on the classical economic model, as it is widely accepted that internal devaluation policies keep inflation low. This article attempts to examine whether the Keynesian theory and the Phillips Curve, which shows the relationship between unemployment and inflation, apply in the case of the Greek economy. We use descriptive statistics, ordinary least squares (OLS) and VAR Analysis to examine the relationship between the variables. According to the results, there is a negative correlation between unemployment and inflation in Greece, thus confirming the Phillips Curve hypothesis. Finally, results show that unemployment is less dependent on inflation compared with the past, and there are numerous other decisive factors affecting unemployment. [ABSTRACT FROM AUTHOR]

The common fiscal rules in the EMU constitute one of the main economic integration pillars, with the fiscal governance framework in the eurozone having been significantly reformed over the economic crisis period. Changes focusing on creating fiscal stability conditions, such as the national Fiscal Councils, the European Semester, the national Medium-Term Budgetary Frameworks (MTBFs), the debt brake and the automatic fiscal correction mechanism (budget cutter) were adopted through the legislative measures introduced by the Six Pack, the Two Pack and the Treaty on Stability, Coordination and Governance in the EMU (TSCG). This paper examines both the formal and actual response of Greece to the eurozone fiscal governance reforms. Greece seems to promote the formal implementation of these reforms by transposing them into its national law, but the paper's conclusions confirm that there is a deviation between reaching the defined goals and actually implementing the reforms. [ABSTRACT FROM AUTHOR]

The purpose of this study is to assess the impact of excise duties on tobacco products on state's revenues. Increasing excise duties on tobacco may act as a means to reduce the consumption of this product and thus to have a positive effect on citizens' health and prosperity. Our research showed that an increase in consumer income will result in a certain increase in cigarette consumption and an analogous decrease in fine-cut tobacco consumption, while a similar increase in cigarette price results in a small decrease in cigarette consumption and a very large increase in fine-cut tobacco consumption. Additionally, stepping up an anti-smoking campaign results in a decrease in cigarette consumption. Specifically for Greece we found that during 2019 and 2020 there will be a decrease in the state's revenues from excise duties on tobacco products of €150-€200 million each year. [ABSTRACT FROM AUTHOR]

Within debates on rural development, Neo-Endogenous Development has emerged as the consensus 'best-practice' approach. Central to this approach is the role of the Expert Knowledge Broker – the conduit that brings local and 'extra-local' together. This paper contests that, despite a wealth of research on this paradigm and the knowledge flows that operate within, little research has been conducted regarding the decision-making process of the Expert Knowledge Broker. However, this is arguably decisive in which type of rural development is enacted. Using the allocation of funding for Renewable Energy projects in Greece as a critical context, this paper explores the decision-making approach of experts using Analytic Hierarchical Process analysis. We find that the type of rural development enacted is contingent upon the funding decision and the balance between local and extra-local funding decisions vary depending upon heterogeneous criteria. The paper contributes to knowledge through a nuanced explanation of the role of the Expert Knowledge Broker and suggests how EU Renewable Energy policy funding decisions can become more effective. • Renewable energy plays an important role in rural development. • The type of rural development enacted is contingent upon the funding decision balance. • Rural funding decisions vary depending upon heterogeneous criteria. • Social acceptance defines decisions in renewable energy expansion in rural areas. [ABSTRACT FROM AUTHOR]

This paper examines the growth of the knowledge society, the increasing penetration of market forces in higher education and training and the treatment of education and training as an exportable good, supplied in different forms and by various providers, exerts the need for systematic quality assurance in training and education. In Europe, the Bologna Process has urged member-states to respond quickly to the impact of globalization to increase the competitiveness of European job requirement assessments. At present, Greece is among those member-states lacking some type of "networking" between education and training and the job market. It also discusses the prospects of Greece's converging towards the quality goals of the European Higher Education job requirement assessments and the job market. This case goes beyond the limits of a strictly technical debate about the implementation of evaluation procedures or what its criteria ought to be, with the purpose of presenting the broader sociopolitical and economic background that influences the enactment and operation of quality assurance in Greece. [ABSTRACT FROM AUTHOR]

This paper examines the effects of regional factors related to macroeconomic, environmental and energy data in relation to regional investment attractiveness to the Greek solar energy sector. Applying the Analytic Hierarchy Process method, the paper explores the significance of some criteria with reference to the regional investment attractiveness of solar energy enterprises. The AHP method is applied to approach investments in the solar energy sector, by incorporating regional factors in decision-making. Investment scenarios are created for the first time with the usage of multi-criteria methodology, and their scores are calculated based on regional factors Indeed, the results reveal that regions vary in terms of their investment attractiveness in the solar energy sector; hence, decision-makers and business managers should take regional factors into account. This study aims to contribute to the renewable energy expansion, as it is key to a sustainable economy and global challenges. As the last COP21 in Paris will lead to an overwhelming expansion of renewable energy, decision-makers should take into account not only national but also regional parameters. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to study underground banking between Greece and Albania and provide policy makers with specific policy recommendations to reduce hawala, reduce remittances commissions and improve access of banking services to both remittance senders in Greece and beneficiaries in Albania. Design/methodology/approach - The authors measure loans to customers (non-banks), total assets and net revenues from commissions, including remittances commissions, of a sample of 26 Greek commercial banks during 1996-2004 and examine recent remittances commissions of the four largest Greek commercial banks and the Greek Postal Office. Findings - Results indicate that Greek commercial banks charge less for remittances services than Western Union, Eurogiro and hawala banking, although remittances are not a core business for them (loans to customers - non-banks - are their core business). Practical implications - Practical solutions are: lowering remittances commissions to Greek Postal Office for low amount remittances; raising awareness of migrants on benefits of access to formal banking system; implementing bilateral initiatives between Greece and Albania; facilitating development of transfer mechanisms for remittances; promoting economic activities; increasing transparency and offering insurance for remittances; and make it compulsory for employers to pay legal and documented Albanian workers through migrant bank accounts. Also, Albania could support the growth of ATMs networks, to increase access of people to more areas even to rural areas, where remittance-recipient households receive most of remittances. On the other hand, Albania, could find alternative sources to finance current account deficits, due to a possible future reduction of remittances inflows. Originality/value - The paper presents an explanation about low access of Albanian migrants in Greece to remittances services offered by the banking system and suggests the implementation of specific policies to banks and alternative formal money remittance service providers. [ABSTRACT FROM AUTHOR]

Abstract: The present study analyses the location of new economic activities in the 51 Greek prefectures (NUTS III level) as the outcome of agglomeration economies and other factors that are acknowledged as determinants of new firm location. Cross-section data referring to the location choices of firms in manufacturing, commerce, services and tourism within 2005 are used. Results indicate that agglomeration effects largely determine a region''s attractiveness and appropriateness as an investment location. In addition, the effect of other factors such as demand, expected profit and cost conditions is identified as important. Interestingly, regional characteristics seem to affect in different ways the location of start-ups belonging to different industries. [Copyright &y& Elsevier]

This article analyses the regional determinants of manufacturing start-up ratios in Greece. Emphasis is placed on the effect of agglomeration economies, which are distinguished between urbanization and localization economies. The data refer to the establishments realized in the 51 Greek prefectures (NUTS III level) in 2005. Results indicate that negative urbanization economies prevail. Localization economies in the form of positive Marshallian and negative Jacobian externalities are observed and constitute important determinants of start-up ratios. Results regarding the effect of other factors such as expected demand and profit, cost and human resources factors are as anticipated. [ABSTRACT FROM AUTHOR]

The article discusses the high rate of exports from Greece and explores the Greek economy and the export behavior of Greek firms. The reasons why Greek companies are exporting to southeast Europe are examined and the factor analysis technique is used to analyze these reasons. Details are provided about the performance of Greek companies that export and enter into the markets in southeast Europe. The fields that Greek firms invest in, including telecommunications, manufacturing, and finance services, are also described.

This paper analyses the effect of the spatial context upon entrepreneurship in Greek regions. Cross-sectional data referring to 4151 births at NUTS III level (prefecture) are used for firm births in four industries, namely manufacturing, commerce, services, and tourism. The formulated hypotheses are in regard to the effect of agglomeration economies, defined here as urbanization and localization economies, and other factors that typically affect the location of start-ups. Results indicate that strong localization economies exist (both of the Marshallian and the Jacobian type) while, in addition, the spatial context of entrepreneurship affects different industries in different ways. [ABSTRACT FROM AUTHOR]

This article examines the role that Greece has played in the reorientation of the foreign trade of the transition Balkan countries toward the European Union (EU). Greece's imports from and especially its exports to the other Balkan countries have grown much more rapidly than that of the other EU countries. While proximity plays a role in explaining this, there are important schemes for regional integration in the Balkans that may also play a role. Nevertheless, a gravity model of trade in the region suggests that there is considerable unexploited potential for greater intra-regional trade. [ABSTRACT FROM AUTHOR]

Assesses the homogenous approach and policy measures towards small and medium sized enterprises (SME), adopted by the `White Paper on Growth, Competitiveness and Employment' and by national policies in Greece. Role of SME in the Greek economy; Structural characteristics of SME; European Union policy measures in favor of SME.