Growing out of the Crisis: Hidden Assets to Greece's Transition to an Innovation Economy

Benedikt Herrmann () and Alexander Kritikos
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Benedikt Herrmann: European Commission

No 7606, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Greece's currently planned institutional reforms will help to get the country going with limited economic growth. With an economy based primarily on tourism, trade, and agriculture, Greece lacks an established competitive industry and an innovation-friendly environment, resulting in a low export ratio given the small size of the country and its long-time EU-membership. Instead, Greece exports only its nation's talent, with low returns. To become prosperous, the country must better capitalize on its Eurozone membership and add innovative sectors to its economic structure. Given Greece's hidden assets, such as the attractiveness of the country, a small number of strong research centers and an impressive diaspora in research, finance and business, we envision a Greek "Silicon Valley" and propose a ten point policy plan to achieve that goal.

Keywords: Greece; growth strategy; regulatory environment; entrepreneurship; innovation; innovation systems (search for similar items in EconPapers)
JEL-codes: L2 L26 O3 O4 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2013-09
New Economics Papers: this item is included in nep-cwa, nep-ent, nep-ino and nep-knm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Published - published in: IZA Journal of European Labor Studies, 2013, 2:14

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Journal Article: Growing out of the crisis: hidden assets to Greece's transition to an innovation economy (2013)
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