THE IMPACT OF THE ECONOMIC CRISIS IN THE PROCESS OF CONVERGENCE OF THE GREEK REGIONS

Panagiotis Koudoumakis (), George Botzoris (), Angelos Protopapas () and Vassilios Profillidis ()
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Panagiotis Koudoumakis: Dr. Civil Engineer, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece
George Botzoris: Assistant Professor, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece
Angelos Protopapas: Professor, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece
Vassilios Profillidis: Professor, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece

Regional Science Inquiry, 2019, vol. XI, issue 1, 25-32

Abstract: In this paper, the impact of the economic crisis on the convergence of the Greek region's economy to the European average is examined. In particular, it is being considered the condition of absolute β-convergence using the econometric model of Barro and Sala-i-Martin. The dependent variable was represented by the average value of Gross Domestic Product (GDP) per capita in Purchasing Power Standards (PPS). Additionally the hypothesis of the σ-convergence of the regions of the EU and Greece is being considered, based on the coefficient of variation weighted by population. The results of both absolute β-convergence and σ-convergence suggest a declining trend of convergence and persistence of inequalities for the regions of the EU, following the outbreak of 2008 economic crisis. Regarding the regions of Greece, the results indicate, on the one hand, their deviation from the average income of the regions of the EU and, on the other, a significant increase in the regional disparities in the period 2000-2016.

Keywords: Convergence; Disparities; Economic Crisis; Regions (search for similar items in EconPapers)
JEL-codes: O41 R11 R12 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (7)

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