Sector Analysis and Economic Growth in Greece: The Domination of Tourism over Other Sectors

Konstantinos Spinthiropoulos (), Christos Nikas () and Eleni Zafeiriou ()
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Konstantinos Spinthiropoulos: University of Macedonia
Christos Nikas: University of Macedonia
Eleni Zafeiriou: Democritus University of Thrace

A chapter in Economic Growth in the European Union, 2020, pp 167-176 from Springer

Abstract: Abstract The present chapter examines the impact of significant sectors of the Greek economy and their relationship with economic growth. The variables employed for this study involve tourism-generated GDP, money supply, construction and taxation, and economic growth in Greece while the methodology employed is the multivariate autoregressive VAR model. The long-term relationship between GDP and the variables examined was validated for the period between 1965 and 2015. According to our findings, the “growth engine” for Greece seems to be tourism, rather than the manufacturing sector, while they confirm a shift away from the tertiary toward the primary sector. The results provide policy-makers with effective policy tools for the simultaneous economic growth of the two aforementioned sectors.

Keywords: Economic growth; VAR; GDP; Tourism; Constructions; Accounting variables (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-030-48210-7_12

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DOI: 10.1007/978-3-030-48210-7_12

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