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Sectoral linkages and economic crisis: An input-output analysis of the Cypriot economy

Author

Listed:
  • Elias Giannakis

    (Energy, Environment and Water Research Center, The Cyprus Institute)

  • Theofanis P. Mamuneas

    (Department of Economics, University of Cyprus)

Abstract

The objective of this paper is to analyse the inter-industry linkages and interdependencies in Cyprus economy during the recent economic crisis. The input-output multiplier analysis indicates that the food manufacturing industry and the transportation sector are the sectors with the highest backward linkages in the Cypriot economy overtime. The food manufacturing industry and the agricultural sector achieved to increase their positive economy-wide effects in the economy during the recession. Supporting the partnership of these sectors can enhance the whole agri-food chain and invigorate economic growth in both good and bad times. The banking-financing sector, although it suffered the brunt of the economic recession impacts, also managed to increase its multiplier effect, thus confirming its important role on the stability of the Cypriot economy. The size of the economy-wide multiplier effect of economic sectors is a key criterion in judging industries’ potential on promoting economic growth.

Suggested Citation

  • Elias Giannakis & Theofanis P. Mamuneas, 2018. "Sectoral linkages and economic crisis: An input-output analysis of the Cypriot economy," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 12(1), pages 28-40, June.
    • Handle: RePEc:erc:cypepr:v:12:y:2018:i:1:p:28-40
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    File URL: https://www.ucy.ac.cy/erc/documents/Paper_2_28-40Mamuneas.pdf
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    References listed on IDEAS

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    Cited by:

    1. Elias Giannakis & Sophia Efstratoglou & Artemis Antoniades, 2018. "Off-Farm Employment and Economic Crisis: Evidence from Cyprus," Agriculture, MDPI, vol. 8(3), pages 1-11, March.
    2. Elias Giannakis & Theofanis P. Mamuneas, 2022. "Sectoral demand-driven and supply-driven input-output multipliers in Cyprus," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 16(1), pages 1-10, June.
    3. Chrystalleni Aristidou & Aris Avgousti & Niki Papadopoulou, 2022. "Estimation of the Medium-Term Macroeconomic Impact of the Cyprus Recovery and Resilience Plan," Working Papers 2022-4, Central Bank of Cyprus.
    4. Elias Giannakis & Louis Hadjioannou & Carlos Jimenez & Marios Papageorgiou & Anastasis Karonias & Antonis Petrou, 2020. "Economic Consequences of Coronavirus Disease (COVID-19) on Fisheries in the Eastern Mediterranean (Cyprus)," Sustainability, MDPI, vol. 12(22), pages 1-11, November.

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