The Greek economy in a Kaldorian developmental framework

Katrakilidis, K.; Tsaliki, Persefoni; Tsiakis, Theodosios

doi:10.1556/aoecon.63.2013.1.4

Cited by 11 publications

(6 citation statements)

References 24 publications

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“…Delivani (1991) and Delivani -Nikas (2013) argued that the "engine of growth" for Greece was not the manufacturing but the tourism sector. This view came in stark contrast to the results of Drakopoulos -Theodosiou (1991) and Katrakilidis et al (2013) and provided a motive for further research in order to point out the importance of the tourism and primary sector instead of the manufacturing sector in Greece.…”

Section: The Kaldorian Theory: Manufacturing or Services?contrasting

confidence: 71%

“…Over the past decades the implementation of the Kaldorian theory was one of the most notable trends in economic analysis. Drakopoulos -Theodosius (1991) and Katrakilidis et al (2013) proceeded to investigate the validity of the Kaldorian theory. They tested the three laws of the Kaldor's theory and its relevance to the Greek economy for the period of 1970-2006, based on the ARDL method.…”

Section: The Kaldorian Theory: Manufacturing or Services?mentioning

confidence: 99%

“…It is generally known that there are difficulties in measuring the tourism sector in relation to other sectors, like the primary sector and the manufacturing sector. Katrakilidis et al (2013) were attracted by the Kaldorian theory and tried to investigate the validity of the Kaldorian insights into the economic growth and manufacturing. The assumptions of the Kaldorian theory and the results of their research paper verify the validity of this theory while a positive relation between the manufacturing production and GDP growth for Greece was confirmed.…”

Section: Introductionmentioning

confidence: 99%

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Tourism and economic growth in Greece: An ARDL bound testing approach in a Kaldorian framework

2020

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The purpose of the study is to examine the relationship between tourism development and economic growth in Greece, using the Autoregressive Distributed Lag (ARDL)-Bounds testing procedure. The present paper attempts to examine the relevance of the tourism led growth hypothesis according to the Kaldorian theory. The analysis was carried out for the period from 1963 to 2016 and involves the short-run as well as the log-run impact. As a proxy for the output of the tourism sector, its receipts are employed, while as an index for economic growth, the GDP is employed. The empirical results show that the economy of Greece can recover and return to the long-run equilibrium with a speed of adjustment 7.17% per year.

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Section: The Kaldorian Theory: Manufacturing or Services?contrasting

confidence: 71%

Section: The Kaldorian Theory: Manufacturing or Services?mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Tourism and economic growth in Greece: An ARDL bound testing approach in a Kaldorian framework

2020

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“…ARDL bound testing developed by Pesaran et al (2001) is adopted. The ARDL approach presents numerous advantages in contrast to other cointegration methods (Apostolidou et al, 2014;Katrakilidis et al, 2013). Nkoro and Uko (2016) state that the Maintaining the stability of the housing market adoption of the ARDL cointegration technique does not require tests for unit roots unlike other techniques.…”

Section: Methodsmentioning

confidence: 99%

Maintaining the stability of the housing market in the event of an economic shock

Stundžienė

Pilinkienė

Grybauskas

2022

IJHMA

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Purpose This paper aims to identify the economic stimulus measures that ensure stability of the Lithuanian housing market in the event of an economic shock. Design/methodology/approach The econometric analysis includes stationarity test, Granger causality test, correlation analysis, autoregressive distributed lag models and cointegration analysis using ARDL bounds testing. Findings The econometric modelling reveals that the housing price in Lithuania correlates with quarterly changes in the gross domestic product and approves that the cycles of the real estate market are related to the economic cycles. Economic stimulus measures should mainly focus on stabilizing the economics, preserving the cash and deposits of households, as well as consumer spending in the case of economic shock. Originality Value This study is beneficial for policy makers to make decisions to maintain stability in the housing market in the event of any economic shock.

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“…The structural weaknesses of the Greek economy were evident from the early post-war years. The fact is that the first post-war years, with the funds of the Marshall Plan, were dominated by the idea that economic growth is closely intertwined with the industrialization of the economy (see also Katrakilidis, et al, 2013). Industrialization was a process that went on, albeit slowly, during the 1950s and 1960s.…”

Section: The Greek Economy In Its Worse Depressionmentioning

confidence: 99%

The ‘new golden age of accumulation’, the new depression and the Greek economy

Tsoulfidis

2016

SCAD

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The 'new golden age of accumulation', the new depression and the Greek economy Άρθρα | Articles ΠΕΡIΛΗΨΗ Στόχος του άρθρου είναι να ερευνήσει διεξοδι-κά τις βαθύτερες αιτίες της τρέχουσας κρίσης και της λεπτομερούς εκδήλωσής της στην περίπτωση της ελληνικής οικονομίας. Το σημαντικότερο επι-χείρημα του άρθρου είναι ότι η πρωταρχική αι-τία της κρίσης εντοπίζεται στην πτωτική τάση του ποσοστού κέρδους που από ένα σημείο και μετά οδηγεί σε στασιμότητα και εν τέλει πτώση στη μάζα των πραγματικών καθαρών κερδών που με τη σειρά τους αποθαρρύνουν τις επενδύσεις και οδηγούν σε αυξανόμενη ανεργία. Στην περίπτωση της ελληνικής οικονομίας, αυτή η κρίση της κερ-δοφορίας έχει επιδεινωθεί από τη συστολή των σημαντικών παραγωγικών δραστηριοτήτων της, ιδίως τη βιομηχανία και τη γεωργία. Η συστολή αυτών των δραστηριοτήτων όχι μόνο επιδείνωσε την κρίση αλλά επιπλέον προετοίμασε το έδαφος για την ανάπτυξη των διαφορετικών μορφών έκ-φρασής της, δηλαδή στη διόγκωση του χρέους και σε πρωτοφανή υψηλά ποσοστά ανεργίας που φέρνουν ολόκληρη την κοινωνία σε ένα αδιέξοδο. ΛΕΞΕΙΣ-ΚΛΕΙΔΙΑ:Πτωτική τάση κέρδους, μη παραγωγικές δραστηριότητες, μη εμπορεύσιμα αγαθά, κρίση, χρέος, ελληνική οικονομία ABSTRACT The purpose of this paper is to delve into the deeper causes of the current crisis and its detailed manifestation in the case of the Greek economy. The major argument of the paper is that the root cause of the crisis is fundamentally identified in the declining profitability which past a point leads to a stagnant mass of real net profits thereby discouraging investment spending and leading to rising unemployment. In the case of the Greek economy, this crisis of profitability has been aggravated by the contraction of its major productive activities, that is, manufacturing and agriculture. The contraction of these activities not only worsened the crisis but furthermore paved the way for the development of different forms of its expression; that is, mounting debt and unprecedented high rates of unemployment bringing the whole society into a stalemate. JEL Classifications: B5; E1, O51

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The Greek economy in a Kaldorian developmental framework

Cited by 11 publications

References 24 publications

Tourism and economic growth in Greece: An ARDL bound testing approach in a Kaldorian framework

Tourism and economic growth in Greece: An ARDL bound testing approach in a Kaldorian framework

Maintaining the stability of the housing market in the event of an economic shock

The ‘new golden age of accumulation’, the new depression and the Greek economy

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