The Impact of Financial Deregulation in Greece on Consumption Patterns

Nicholas Apergis () and Costas Velentzas
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Costas Velentzas: University of Macedonia, Economic and Social Sciences, Postal: 156 Egnatia Street,, GR-540 06 Thessaloniki,, Greece, http://www.uom.gr/

Economia Internazionale / International Economics, 2002, vol. 55, issue 3, 283-296

Abstract: The objective of this paper is to examine the impact of financial deregulation in Greece on the fraction of expenses on durables that can be financed through the financial sector. A theoretical asset-pricing model, in which expenses on non-durables and expenses on durables were explicitly introduced in the utility function, was employed. Through the methodology of GMM it was shown that the deregulation has significantly increased the percentage of financing expenses on durables through credit.

Keywords: Consumption; financial deregulation; asset-pricing model; Europe; Greece (search for similar items in EconPapers)
JEL-codes: E21 E42 (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0178

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