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Macroeconomic impacts of natural gas introduction in Greece

Author

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  • Caloghirou, Y.D.
  • Mourelatos, A.G.
  • Roboli, A.

Abstract

Input-output analysis has been applied to assess macroeconomic impacts of investment expenditures required for introduction of natural gas (NG) into the Greek energy system. The final demand vector was assembled from figures estimated in a prefeasibility study. A 12 × 12 input-output table was used to calculate relative changes in gross domestic product (GDP) for the entire economy, sectoral production and value-added, employment, and wages. We show that construction of the national gas grid will significantly affect all five macroeconomic indicators during a period of eight years. Taking into account direct and indirect impacts, GDP will rise by 2.0% whereas employment and wages will increase by 1.6%. If imports are fully replaced by local produce, GDP will rise by 3.0% whereas employment and wages will increase by 2.4 and 2.3%, respectively. The relative change of production for five specified sectors is greater than 24% during the period 1993–2000.

Suggested Citation

  • Caloghirou, Y.D. & Mourelatos, A.G. & Roboli, A., 1996. "Macroeconomic impacts of natural gas introduction in Greece," Energy, Elsevier, vol. 21(10), pages 899-909.
    • Handle: RePEc:eee:energy:v:21:y:1996:i:10:p:899-909
    DOI: 10.1016/0360-5442(96)00036-9
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    Cited by:

    1. Kaldellis, J.K. & Kavadias, K.A. & Spyropoulos, G., 2005. "Investigating the real situation of Greek solar water heating market," Renewable and Sustainable Energy Reviews, Elsevier, vol. 9(5), pages 499-520, October.
    2. Brkic, Dejan, 2009. "Serbian gas sector in the spotlight of oil and gas agreement with Russia," Energy Policy, Elsevier, vol. 37(5), pages 1925-1938, May.
    3. Subash Dhar & Charles Marpaung, 2015. "Technology priorities for transport in Asia: assessment of economy-wide CO 2 emissions reduction for Lebanon," Climatic Change, Springer, vol. 131(3), pages 451-464, August.
    4. Shrestha, Ram M. & Marpaung, Charles O.P., 2006. "Integrated resource planning in the power sector and economy-wide changes in environmental emissions," Energy Policy, Elsevier, vol. 34(18), pages 3801-3811, December.
    5. Batzias, F.A. & Sidiras, D.K. & Spyrou, E.K., 2005. "Evaluating livestock manures for biogas production: a GIS based method," Renewable Energy, Elsevier, vol. 30(8), pages 1161-1176.

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