Resource title

The Greek paradox of falling competitiveness and weak institutions in a high GDP growth rate context (1995-2008)

Resource image

image for OpenScout resource :: The Greek paradox of falling competitiveness and weak institutions in a high GDP growth rate context (1995-2008)

Resource description

In this paper, we deal with some pieces of evidence that are necessary to explain the paradox of rapid GDP growth despite the dismal competitiveness of the Greek economy during 1995-2008. It is shown how the structural weaknesses of the Greek economy have hit the domestic economy investigating their impact on the current turmoil. It is argued that the previously favourable global economic environment acted as a locomotive to domestic growth, whereas now that it is gone, structural problems of poor governance, low competitiveness, and a ballooning public deficit and debt have come to the surface. We offer a specific explanation of the current unfortunate state of the economy briefly considering avenues of necessary reforms to overcome it.

Resource author

Resource publisher

Resource publish date

Resource language

en

Resource content type

application/pdf

Resource resource URL

http://eprints.lse.ac.uk/29098/1/GreeSE_No38.pdf

Resource license