The Legislative Background to Foreign Investment in Greece, Portugal and Spain

Peter J. Buckley and Patrick Artisien
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Peter J. Buckley: University of Bradford
Patrick Artisien: University of Wales

Chapter 2 in North-South Direct Investment in the European Communities, 1987, pp 25-38 from Palgrave Macmillan

Abstract: Abstract The recent accession of Greece, Spain and Portugal has changed the orientation of the Common Market from a Community of industrialised states with relatively high GDPs and living standards to an enlarged Community which comprises some of the poorest nations in Western Europe. Economic conditions, which have worsened throughout the Community member states since the first enlargement of 1973, do not augur well for the successful integration of less developed Mediterranean countries. Already in the interim period Greece’s membership of the EC has opened the floodgates to imports of European manufactures and food: in the two years since joining, Greece’s trade deficit with its EC partners has doubled to $2.5 billion. In the food trade, where Greece was expected to enlarge its European markets, the results are disappointing: Greece’s $140 million surplus on food trade with the EC in 1980 turned into a $295 million deficit in 1982.

Keywords: Direct Foreign Investment; Foreign Investment; Foreign Firm; Foreign Capital; Investment Incentive (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09946-7_3

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DOI: 10.1007/978-1-349-09946-7_3

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