Financialisation and the crisis: the case of Greece

Yanis Varoufakis and Lefteris Tserkezis

Chapter 5 in Financialisation and the Financial and Economic Crises, 2016, pp 114-136 from Edward Elgar Publishing

Abstract: The present chapter analyses the changing relationship between the real and the financial sector in the course of the long-run development of the Greek economy, focusing on the effects of financialisation and on its connection to the current economic crisis. The first section offers a brief discussion of the basic tendencies characterising the long-run development of the Greek economy over the past three decades. The second section examines the effect of financialisation on several aspects of the real economy, including income distribution, gross capital formation, consumption and the evolution of the current account. In the third section, the results of the preceding analysis are linked to the outbreak of the current crisis, in an attempt to explain the reasons behind this crisis’s excessive severity in the case of the Greek economy, while the fourth section concludes.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/9781785362378.00010.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

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:elg:eechap:16808_5

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().