By Panagiotis E. Petrakis
On June three, 2015, the Greek Parliamentary finances workplace, the nationwide and Kapodistrian college of Athens, the Democritus college of Thrace, and the collage of Peloponnese backed a world convention to handle medium- and long term progress in Greece. This assortment offers the most powerful papers at the stipulations required to restore and hold fiscal progress. top specialists hide virtually each significant factor pointed out within the most recent literature, from demographic matters and suggestions for export technique to the necessity for innovation and structural reform. the combo of qualitative and quantitative methods to assessing current stipulations make this ground-breaking assortment a necessary source for quite a few lecturers, expert economists, and monetary coverage practitioners planting the seeds of Greece's future.
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Extra resources for A New Growth Model for the Greek Economy: Requirements for Long-Term Sustainability
Fostering youth mobility is probably a better way of moving not only to an integration of outlooks and attitudes but also to a dissemination of best practice across Europe. Countries with high levels of out-migration at some point in the past (Ireland and Poland are the most striking examples) found that the return of young migrants who had increased their skill levels represented a major source of dynamism. In that sense, if the current crisis is promoting higher migration, it should not simply be a source of worry: in the long run, it may have a strengthening effect.
The reinvestment of contributions will return value to the state and society, as the funded pension scheme will invest in state or corporate bonds and equity in addition to small and medium enterprises. This will secure for the state and enterprises the capital necessary to help them grow and hence will contribute to economic growth. The following three contributions refer to the labor market. Christos Katris (Chap. 14: “Okun’s Law in Greece in the Post-Crisis Era: An Empirical Study”) discusses the validity of Okun’s Law.
Summarizing their results, they show that economic uncertainty, as proxied by long-term interest rates, acts as an important drag on Greek exports to Eurozone countries, offsetting the positive effect of reduced labor costs on Greece’s export performance since the implementation of internal devaluation. Moreover, the clear upward trend of Greek exports to non-Eurozone countries seems related both to the reduction of unit labor costs and the devaluation of the euro. The stimulation of growth through a number of reforms in the labor, goods and services markets is essential, absorbing the collapse of domestic demand and redirecting this production and capital to tradable goods.
A New Growth Model for the Greek Economy: Requirements for Long-Term Sustainability by Panagiotis E. Petrakis