ECONOMIC CRISIS AND REGIONAL DEVELOPMENT IN GREECE

Yannis Psycharis (), Antonios Rovolis, Vassilis Tselios and Panayotis Pantazis ()
Additional contact information
Yannis Psycharis: Panteion University of Social and Political Sciences, Department of Economic and Regional Development;
Panayotis Pantazis: University of Thessaly, Department of Planning and Regional Development, Panteion University of Social and Political Sciences, Department of Economic and Regional Development

Region et Developpement, 2014, vol. 39, 67-85

Abstract: This paper sets out to examine the determinants of regional development in Greece before and during the economic crisis. By proposing an econo-metric model with spatial effects for the years 2005-2008 and 2009-2011, which represent the sub-periods of growth and decline of the Greek economy respectively, we make it possible to capture the different factors that affect the regional economic development of the NUTS III regions in the country. Results highlight that the most urbanized and high income level regions are more affected by the economic crisis. However, these regions had been the ones that most benefited during the upturn of the economic activity. The same applies to the regions that are based on agriculture, which had benefited during the period of economic development but cannot sustain the gains of development during the recession. Specialization in manufacturing is an important determinant of regional development, either in times of growth or in times of crisis, while tourism generates benefits to the neighbouring regions in times of economic crisis. These results are also tested for geographical subsets of the country such as the North-South divide and regions belonging to the development axis of the country (PATHE) versus the rest regions of the country.

Keywords: ECONOMIC CRISIS; REGIONAL RESILIENCE; REGIONAL DEVELOPMENT; GREECE (search for similar items in EconPapers)
JEL-codes: C21 C23 O21 R11 R12 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://regionetdeveloppement.univ-tln.fr/wp-content/uploads/3-Psycharis.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:tou:journl:v:39:y:2014:p:67-85

Access Statistics for this article

More articles in Region et Developpement from Region et Developpement, LEAD, Universite du Sud - Toulon Var Contact information at EDIRC.
Bibliographic data for series maintained by Christophe Van Huffel ().