The Greek economy in a Kaldorian developmental framework

Constantinos Katrakilidis, Persefoni Tsaliki and Theodosios Tsiakis ()
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Theodosios Tsiakis: Department of Marketing in Alexander Technological Educational Institute of Thessaloniki, Thessaloniki, Greece

Acta Oeconomica, 2013, vol. 63, issue 1, 61-75

Abstract: This paper empirically explores the validity of the Kaldorian insights into economic growth and development. In doing so, we examine the three laws outlined in Kaldor’s analysis and test their relevance to the Greek economy for the period 1970–2006. We employ the ARDL method to analyse the long-run and short-run relationships among the variables. The empirical results confirm Kaldor’s proposition about the importance of the demand side of the economy and thus provide the necessary theoretical and empirical ground for innovative economic policies in these difficult times for Greece.

Keywords: economic growth; Kaldor’s laws; Greek economy; ARDL (search for similar items in EconPapers)
JEL-codes: C22 E12 O14 O40 (search for similar items in EconPapers)
Date: 2013
Note: We thank the two anonymous referees for their valuable comments. The usual disclaimer applies.
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Citations: View citations in EconPapers (2)

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