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Public financial support to investments in rural areas: The case of the region of Thessaly in Greece

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  • Simeon Karafolas

    ()
    (Technological Educational Institute of Western Macedonia, Department of Financial Applications, Koila Kozanis 50100, Greece)

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    Abstract

    Greek governments have supported investments to rural areas financially either by covering part of the investment and/or offering advantages with respect to interest rate loans or tax advantages. This support had been tendered either by nationally financed programs, called Development Laws, or by other programs, mainly financed by the European Union. The financial support depended on the area where the investment took place, as well as the sector and the nature of the investment. Additionally, another program, the LEADER initiative, was developed. It was financed mainly by the European Union, in order to support investments in rural areas and promote the development and the structural adaptation of the less developed European regions. This paper examines public financial support for investments in rural areas in the case of the region of Thessaly, one of the 13 regions in Greece. Its aim is to point out the importance of investments in the sectors of tourism, industry and agriculture. The region of Thessaly presents obvious interest because of the development of these sectors at different levels, depending on local production characteristics. The time period is the 2000s, when important investments were undertaken in the region, supported financially by Development Laws and the LEADER initiative.

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    Bibliographic Info

    Article provided by Technological Educational Institute (TEI) of Kavala, Greece in its journal International Journal of Economic Sciences and Applied Research (IJESAR).

    Volume (Year): 6 (2013)
    Issue (Month): 2 (September)
    Pages: 81-101

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    Handle: RePEc:tei:journl:v:6:y:2013:i:2:p:81-101

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    Keywords: Financial support; investments; rural areas; Thessaly; Greece;

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    1. Armando Silva, 2011. "Financial constraints and exports: evidence from Portuguese manufacturing firms," FEP Working Papers 402, Universidade do Porto, Faculdade de Economia do Porto.
    2. Salima Djedidi Kooli, 2012. "Distances and Small Business Credit Constraints: The French case," International Journal of Economic Sciences and Applied Research (IJESAR), Technological Educational Institute (TEI) of Kavala, Greece, Technological Educational Institute (TEI) of Kavala, Greece, vol. 5(3), pages 81-114, December.
    3. Loizou, Efstratios & Chatzitheodoridis, Fotis & Mattas, Konstadinos & Polymeros, Konstantinos, 2010. "Fisheries policies impacts consideration towards the development of rural coastal areas," 118th Seminar, August 25-27, 2010, Ljubljana, Slovenia, European Association of Agricultural Economists 94910, European Association of Agricultural Economists.
    4. Danijela Miloš Sprčić & Metka Tekavčič & Željko Šević, 2008. "A Review of the Rationales for Corporate Risk Management: Fashion or the Need?," International Journal of Economic Sciences and Applied Research (IJESAR), Technological Educational Institute (TEI) of Kavala, Greece, Technological Educational Institute (TEI) of Kavala, Greece, vol. 1(1), pages 71-99, April.
    5. Thomas Gstraunthaler & János Lukács & Marcel Steller, 2008. "The Board of Directors and its Role in the Corporate Governance System - Considerations about the Control Model - A Research Note," International Journal of Economic Sciences and Applied Research (IJESAR), Technological Educational Institute (TEI) of Kavala, Greece, Technological Educational Institute (TEI) of Kavala, Greece, vol. 1(1), pages 37-54, April.
    6. Mehmet Aldonat Beyzatlar & Mehmet Yeşim Kuştepeli, 2011. "Infrastructure, Economic Growth and Population Density in Turkey," International Journal of Economic Sciences and Applied Research (IJESAR), Technological Educational Institute (TEI) of Kavala, Greece, Technological Educational Institute (TEI) of Kavala, Greece, vol. 4(3), pages 39-57, December.
    7. Karafolas, Simeon, 2007. "Wine Roads in Greece: A Cooperation for the Development of Local Tourism in Rural Areas," Journal of Rural Cooperation, Hebrew University, Center for Agricultural Economic Research, Hebrew University, Center for Agricultural Economic Research, vol. 35(1).
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