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The Impact Of The Economic Crisis In The Process Of Convergence Of The Greek Regions

Author

Listed:
  • Panagiotis KOUDOUMAKIS

    (Dr. Civil Engineer, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece)

  • George BOTZORIS

    (Assistant Professor, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece)

  • Angelos PROTOPAPAS

    (Professor, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece)

  • Vassilios PROFILLIDIS

    (Professor, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece)

Abstract

In this paper, the impact of the economic crisis on the convergence of the Greek region's economy to the European average is examined. In particular, it is being considered the condition of absolute β-convergence using the econometric model of Barro and Sala-i-Martin. The dependent variable was represented by the average value of Gross Domestic Product (GDP) per capita in Purchasing Power Standards (PPS). Additionally the hypothesis of the σ-convergence of the regions of the EU and Greece is being considered, based on the coefficient of variation weighted by population. The results of both absolute β-convergence and σ-convergence suggest a declining trend of convergence and persistence of inequalities for the regions of the EU, following the outbreak of 2008 economic crisis. Regarding the regions of Greece, the results indicate, on the one hand, their deviation from the average income of the regions of the EU and, on the other, a significant increase in the regional disparities in the period 2000-2016.

Suggested Citation

  • Panagiotis KOUDOUMAKIS & George BOTZORIS & Angelos PROTOPAPAS & Vassilios PROFILLIDIS, 2019. "The Impact Of The Economic Crisis In The Process Of Convergence Of The Greek Regions," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 25-32, June.
    • Handle: RePEc:hrs:journl:v:xi:y:2019:i:1:p:25-32
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    Citations

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    Cited by:

    1. Nadezda Vasilievna SEDOVA & Lidia Sergeevna ARKHIPOVA & Darya Mikhailovna MELNIKOVA & Irina Fedorovna ALESHINA, 2022. "Digitalization Of Economy And Living Standards Of Population In Russian Regions," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 47-65, June.
    2. Panagiotis KOUDOUMAKIS & George BOTZORIS & Angelos PROTOPAPAS, 2021. "The Contribution Of Cohesion Policy To The Development And Convergence Of The Regions Of The European Union," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 277-290, June.
    3. Angelos Liontakis, 2020. "How Does a Policymaker Rank Regional Income Distributions across Years? A Study on the Evolution of Greek Regional per Capita Income," Economies, MDPI, vol. 8(2), pages 1-12, May.
    4. KYDROS Dimitrios & FILENTA Pagona, 2022. "Literature Review of Economic and Regional Development through Quantitative Methods and Social Network Analysis," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 01, March.
    5. Olga OVCHARENKO & Viktoriia SMIESOVA & Maryna IVANOVA & Nataliia KOVTUN & Liliya ZOLOTUKHINA, 2021. "Economic Security Management At The Meso-Level: Methodological And Legal Approach," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 201-216, June.
    6. Natalia V. TRUSOVA & Oleksandr S. PRYSTEMSKYI & Oksana V. HRYVKIVSKA & Alina Zh. SAKUN & Yurii Y. KYRYLOV, 2021. "Modeling Of System Factors Of Financial Security Of Agricultural Enterprises Of Ukraine," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 169-182, June.
    7. FILENTA Pagona & KYDROS Dimitrios, 2023. "The Application Of Social Network Analysis To Economic And Regional Development: Tertiary Educational Attainment By Sex And Nuts 2 Regions," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 18(2), pages 124-139, August.

    More about this item

    Keywords

    Convergence; Disparities; Economic Crisis; Regions;
    All these keywords.

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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