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Success and Failure of Economic Policies: The Experience of Greece and Portugal

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  • Sarantis E G Lolos

Abstract

This paper evaluates macroeconomic and structural policies in Greece and Portugal over the 1980s and 1990s and analyses the factors that have shaped economic policy making in the two countries. Portugal seems to have been a successful case of economic reform and structural adjustment as reflected in its impressive economic performance. In Greece, stabilization measures and structural adjustment have been delayed as shown by the country's poor economic record in the 1980s and the early 1990s. Policy options seem to have been largely determined by the state of the economy and the flow of financial transfers from the European Union, as well as by local historical legacies, political institutions and the capacity of the state to implement policy measures.

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  • Sarantis E G Lolos, 1998. "Success and Failure of Economic Policies: The Experience of Greece and Portugal," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 40(1), pages 72-102, April.
    • Handle: RePEc:pal:compes:v:40:y:1998:i:1:p:72-102
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    Cited by:

    1. Hondroyiannis, George & Lolos, Sarantis & Papapetrou, Evangelia, 2002. "Energy consumption and economic growth: assessing the evidence from Greece," Energy Economics, Elsevier, vol. 24(4), pages 319-336, July.
    2. Sarantis Lolos & Panagiotis Palaios & Evangelia Papapetrou, 2023. "Tourism-led growth asymmetries in Greece: evidence from quantile regression analysis," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 22(1), pages 125-148, January.
    3. Korzhenevych, Artem & Bröcker, Johannes, 2018. "Investment subsidies and regional welfare: A dynamic framework," CEPIE Working Papers 02/18, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
    4. Tsani, Stela Z., 2010. "Energy consumption and economic growth: A causality analysis for Greece," Energy Economics, Elsevier, vol. 32(3), pages 582-590, May.

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