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Making geographical sense of the Greek austerity measures: compositional effects and long-run implications

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  • Vassilis Monastiriotis

Abstract

This paper examines the geographical impact of the recent austerity measures in Greece. Owing to compositional differences across regions, the horizontal measures are found to amplify existing disparities. It is argued that under certain conditions, relating to wider spatial imbalances in the country, this can trigger cumulative divergence processes that may be hard to address in the future. To correct this, it is proposed that revenue-generating efforts should concentrate more on tackling tax evasion and increasing tax progressivity; while the reduction in public consumption should be compensated by targeted increases in public investment. Facilitating the early release of already earmarked European Union funds can be central for such a strategy. Copyright 2011, Oxford University Press.

Suggested Citation

  • Vassilis Monastiriotis, 2011. "Making geographical sense of the Greek austerity measures: compositional effects and long-run implications," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 4(3), pages 323-337.
  • Handle: RePEc:oup:cjrecs:v:4:y:2011:i:3:p:323-337
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    File URL: http://hdl.handle.net/10.1093/cjres/rsr026
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    Cited by:

    1. Tyralis, Hristos & Mamassis, Nikos & Photis, Yorgos N., 2017. "Spatial analysis of the electrical energy demand in Greece," Energy Policy, Elsevier, vol. 102(C), pages 340-352.
    2. Stella Karoulia & Eleni Gaki, 2013. "The impact of economic crisis on Greek regions and the importance of regional resilience," ERSA conference papers ersa13p1015, European Regional Science Association.
    3. Yannis Psycharis & Dimitris Kallioras & Panagiotis Pantazis, 2014. "Economic crisis and regional resilience: detecting the ‘geographical footprint’ of economic crisis in Greece," Regional Science Policy & Practice, Wiley Blackwell, vol. 6(2), pages 121-141, June.
    4. Panagiotis ARTELARIS & George KANDYLIS, 2014. "Mapping Poverty At Regional Level In Greece," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 39, pages 131-147.
    5. repec:bla:presci:v:96:y:2017:i:3:p:451-476 is not listed on IDEAS
    6. repec:bla:tvecsg:v:107:y:2016:i:5:p:628-641 is not listed on IDEAS

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