Challenging the Raison d’etre of Internal Devaluation in the Context of the Greek Economy

Constantinos Alexiou and Joseph G. Nellis ()

Panoeconomicus, 2013, vol. 60, issue 6, 813-836

Abstract: This paper provides a critical assessment of the austerity measures that are being implemented in the crisis-stricken countries of the Eurozone, and in particular, the implications of internal devaluation for the Greek economy. The theoretical underpinnings and phases of internal devaluation are explored. A detailed statistical analysis of key macroeconomic indicators pertaining to the Greek economy is carried out. Alternatives to internal devaluation are proposed in this paper, laying the foundations for a reassessment of the policy of austerity and the implications for recovery and sustainability of economic activity in Greece and other countries of the Eurozone. Key words: Internal devaluation, Greek economic crisis, Austerity, Eurozone.JEL: E62, E66.

Keywords: Internal devaluation; Greek economic crisis; Austerity; Eurozone (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

Downloads: (external link)
https://panoeconomicus.org/index.php/jorunal/article/view/83/77 (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:voj:journl:v:60:y:2013:i:6:p:813-836:id:83

Access Statistics for this article

Panoeconomicus is currently edited by Kosta Josifidis

More articles in Panoeconomicus from Savez ekonomista Vojvodine, Novi Sad, Serbia
Bibliographic data for series maintained by Savez ekonomista Vojvodine, Novi Sad, Serbia ().