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Is Greece's export performance really low?

  • Christos Papazoglou

    ()

    (Bank of Greece)

This paper attempts to access whether Greece’s low openness is the result of its low trade integration, particularly reflecting the country’s relatively poor goods export performance. The analysis estimates potential trade flows for Greece for the years 1993, 1998, 2003 and 2007. In particular, it relies on a gravity model using a panel of cross-country data, which cover bilateral trade flows among the EU member-states. The potential flows are then derived by applying the estimated parameters to the Greek economy. The results show that actual Greek exports fall short of potential ones, while the opposite is true with respect to imports. This becomes more profound when the extent of intra-industry trade is included in the analysis. The findings for the Greek exports differ considerably from the corresponding ones for Portugal, a country with similar characteristics, manifesting the limited convergence of Greece’s trade patterns towards the EU average as well as its unique geographical location relatively to the other EU countries.

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File URL: http://www.bankofgreece.gr/BogEkdoseis/econbull200909.pdf
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Article provided by Bank of Greece in its journal Economic Bulletin.

Volume (Year): (2009)
Issue (Month): 32 (May)
Pages: 27-37

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Handle: RePEc:bog:econbl:y:2009:i:32:p:27-37
Contact details of provider: Web page: http://www.bankofgreece.gr

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  1. Theodore Mitrakos & Stauros Zografakis, 2005. "The redistributional impact of inflation in Greece," Economic Bulletin, Bank of Greece, issue 24, pages 45-82, January.
  2. Panayiotis Kapopoulos & Sophia Lazaretou, 2007. "Foreign bank presence: the experience of South-East European countries during the transition process," Economic Bulletin, Bank of Greece, issue 29, pages 7-35, October.
  3. Heather D. Gibson, 2005. "Greek Banking Profitability: recent developments," Economic Bulletin, Bank of Greece, issue 24, pages 7-25, January.
  4. Theodoros S. Papaspyrou, 2004. "EMU strategies for new Member States: the role of Exchange Rate Mechanism II," Economic Bulletin, Bank of Greece, issue 23, pages 7-25, July.
  5. Panayiotis P. Athanasoglou & Ioannis Asimakopoulos G. & Konstantinos Siriopoulos P., 2006. "External Financing, Growth and capital structure of the firms listed on the Athens Exchange," Economic Bulletin, Bank of Greece, issue 26, pages 59-77, January.
  6. Panayiotis P. Athanasoglou & Ioannis G. Asimakopoulos & Evangelia A. Georgiou, 2005. "The effect of merger and acquisition announcement on Greek bank stock returns," Economic Bulletin, Bank of Greece, issue 24, pages 27-44, January.
  7. Pavlos Petroulas, 2008. "Foreign Direct Investment in Greece: Productivity and Spillover effects," Economic Bulletin, Bank of Greece, issue 31, pages 31-48, November.
  8. Theodore M. Mitrakos, 2004. "Education and economic inequalities," Economic Bulletin, Bank of Greece, issue 23, pages 27-46, July.
  9. Mitrakos Theodore, 2008. "Child Poverty: Recent Developments and Determinants," Economic Bulletin, Bank of Greece, issue 30, pages 57-85, May.
  10. Gibson, Heather D. & Lazaretou, Sophia, 2001. "Leading inflation indicators for Greece," Economic Modelling, Elsevier, vol. 18(3), pages 325-348, August.
  11. Sofia Lazaretou, 2004. "Monetary System and Macroeconomic Policy in Greece, 1833-2003," Economic Bulletin, Bank of Greece, issue 22, pages 33-65, January.
  12. Balfoussia Hiona, 2008. "Stock market integration-the athens exchange in the european financial market," Economic Bulletin, Bank of Greece, issue 30, pages 29-55, May.
  13. Ioannis Theodosiou & Konstantinos Pouliakas, 2005. "Socio-economic differences in the job satisfaction of high-paid and low-paid workers in Greece," Economic Bulletin, Bank of Greece, issue 24, pages 83-115, January.
  14. Theodore M. Mitrakos & Nicholas G. Zonzilos, 2006. "The impact of exogenous shocks on the dynamics and persistence of inflation: a macroeconomic model-based approach for Greece," Economic Bulletin, Bank of Greece, issue 26, pages 37-57, January.
  15. Panayiotis P. Athanasoglou & Sophocles N. Brissimis, 2004. "The effect of mergers and acquisitions on bank efficiency in Greece," Economic Bulletin, Bank of Greece, issue 22, pages 7-31, January.
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