Dissecting the Input-Output Structure of the Greek Economy

Theodore Mariolis (), Eirini Leriou and George Soklis
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Eirini Leriou: Hellenic Open University, Athens, Greece

Economia Internazionale / International Economics, 2019, vol. 72, issue 4, 453-474

Abstract: Using input-output table data and a system of basic and derivative indices, the analysis in this paper provides a dissection of the Greek economy for the years 2005 and 2010. The findings suggest that: (i) the structural features of the economy have been shaped well before the emergence of the so-called Greek (or PIIGS) crisis; (ii) a well-targeted effective demand management policy could be mainly based on the service and primary production sectors; and (iii) industrial policy would be necessary and could primarily focus on nine highly import-dependent commodities of the industry sector. Therefore, it seems that a change in the intersectoral structure of the Greek economy is necessary. Anatomia della struttura produttiva dell’economia greca negli anni 2005 e 2010 Tramite l’utilizzo di dati relativi alla struttura produttiva e ad un sistema di indici di base e derivati, l’analisi di questo studio fornisce un’anatomia dell’economia greca per il 2005 e il 2010. I risultati suggeriscono che: (i) le caratteristiche strutturali dell’economia erano state modellate bene prima della crisi greca o della cosiddetta emergenza dei paesi PIIGS; (ii) un’ efficiente politica di gestione della domanda potrebbe basarsi sui servizi e sul settore primario; (iii) una politica industriale sarebbe necessaria e potrebbe principalmente basarsi su nove prodotti industriali altamente import-dipendenti. Sembra dunque necessario un cambio nella struttura intersettoriale dell’economia della Grecia.

Keywords: Domestic and Foreign Value Added; Greek Economy; Industrial Policy; Interindustry Linkages and Leakages; Management of Effective Demand; Structural Transformation (search for similar items in EconPapers)
JEL-codes: C67 D57 E61 F14 O25 (search for similar items in EconPapers)
Date: 2019
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Working Paper: Dissecting the Input-Output Structure of the Greek Economy (2018)
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