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Economic Restructuring, Crises and the Regions: The Political Economy of Regional Inequalities in Greece

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  • Helen Caraveli
  • Efthymios G. Tsionas

Abstract

In the debate concerning a country’s structural weaknesses there is an obvious neglect of space issues, an important component of which is regional imbalances. Yet, the persistence of such imbalances within countries has dictated the continuous investigation of their causes and of the required policy reforms for their reduction. Structural changes, economic integration on a global or regional scale and economic crises have been considered major factors for increasing or decreasing domestic regional concentration and disparities, while economic policy can mitigate (or strengthen) their effect. This paper attempts to examine and critically evaluate the above issues for the case of Greece, where regional inequalities, measured by per capita GDP, have widened over time consolidating the country’s polarized structure and where restrictive macroeconomic measures as well as regional policy implemented through the Community Support Frameworks appear to have been inadequate in most cases or even to have intensified the above picture. A discussion of future prospects under Greece’s current difficult situation is attempted in the conclusions.

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Bibliographic Info

Paper provided by Hellenic Observatory, LSE in its series GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe with number 61.

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Date of creation: Aug 2012
Date of revision:
Handle: RePEc:hel:greese:61

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Keywords: regional inequalities in Greece; structural changes; debt crisis; restrictive macroeconomic measures; regional policy.;

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References

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Cited by:
  1. Emmanuel Mamatzakis, 2013. "Are there any animal spirits behind the scenes of the Euro area sovereign debt crisis?," LSE Research Online Documents on Economics 50984, London School of Economics and Political Science, LSE Library.
  2. Yiannos Katsourides, 2013. "Political Parties and Trade Unions in Cyprus," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 74, Hellenic Observatory, LSE.
  3. Nicholas APERGIS & Arusha COORAY, 2013. "New Evidence on the Remedies of the Greek Sovereign Debt Problem," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 79, Hellenic Observatory, LSE.
  4. George Alogoskoufis, 2013. "Macroeconomics and politics in the accumulation of Greece’s debt: an econometric investigation, 1975-2009," LSE Research Online Documents on Economics 50257, London School of Economics and Political Science, LSE Library.
  5. Spyros Kosmidis, 2013. "Government Constraints and Economic Voting in Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 70, Hellenic Observatory, LSE.
  6. Spyros Kosmidis, 2013. "Government constraints and economic voting in Greece," LSE Research Online Documents on Economics 50259, London School of Economics and Political Science, LSE Library.
  7. Vassilis Monastiriotis & Angelo Martelli, 2013. "Beyond Rising Unemployment: Unemployment Risk, Crisis and Regional Adjustments in Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 80, Hellenic Observatory, LSE.
  8. Yannis Valinakis, 2012. "Greece’s European Policy Making," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 63, Hellenic Observatory, LSE.
  9. Kostas Ifantis, 2013. "The US and Turkey in the fog of Regional Uncertainty," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 73, Hellenic Observatory, LSE.

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