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Austerity measures in crisis countries — results and impact on mid-term development

Author

Listed:
  • Vassilis Monastiriotis
  • Niamh Hardiman
  • Aidan Regan
  • Chiara Goretti
  • Lucio Landi
  • J. Ignacio Conde-Ruiz
  • Carmen Marín
  • Ricardo Cabral

Abstract

Since the onset of the sovereign debt crisis, the crisis-stricken countries in Europe have been pushed to take drastic steps to consolidate their finances and reduce their budget deficits. Despite strong public opposition and largely damaging short-run effects, the countries have undertaken many of the internationally recommended/mandated reforms and spending cuts. In this Forum, authors from Greece, Ireland, Italy, Spain and Portugal report on the fiscal consolidation achieved in their respective countries — and the sacrifices that have made it possible. Furthermore, the authors detail what remains to be done to resolve the crisis. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2013

Suggested Citation

  • Vassilis Monastiriotis & Niamh Hardiman & Aidan Regan & Chiara Goretti & Lucio Landi & J. Ignacio Conde-Ruiz & Carmen Marín & Ricardo Cabral, 2013. "Austerity measures in crisis countries — results and impact on mid-term development," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 48(1), pages 4-32, January.
    • Handle: RePEc:spr:intere:v:48:y:2013:i:1:p:4-32
    DOI: 10.1007/s10272-013-0441-3
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    Citations

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    Cited by:

    1. Moritz Sommer, 2020. "Blame‐shifting in Times of Permanent Austerity: Evidence from Spain and Greece in the Eurozone Crisis," Journal of Common Market Studies, Wiley Blackwell, vol. 58(3), pages 562-579, May.
    2. Panagiotis Pegkas & Christos Staikouras & Constantinos Tsamadias, 2020. "On the determinants of economic growth: Empirical evidence from the Eurozone countries," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 23(2), pages 210-229, June.
    3. George PETRAKOS, 2014. "Economic Crisis In Greece. European And Domestic Market And Policy Failures," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 39, pages 9-33.
    4. Lenuta Cojocariu & Florin Oprea, 2020. "Fiscal Consolidation and Economic Crisis – Ten Years After," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 866-882, August.
    5. CHIRIȚOIU Dorin Iulian & BURLACU Rodica, 2015. "Do Austerity Measures Harm International Trade?," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 01, March.
    6. Rebekka Christopoulou & Vassilis Monastiriotis, 2016. "Public-private wage duality during the Greek crisis," Oxford Economic Papers, Oxford University Press, vol. 68(1), pages 174-196.
    7. Katsanevakis, Stelios & Levin, Noam & Coll, Marta & Giakoumi, Sylvaine & Shkedi, Daniel & Mackelworth, Peter & Levy, Ran & Velegrakis, Adonis & Koutsoubas, Drosos & Caric, Hrvoje & Brokovich, Eran & Ö, 2015. "Marine conservation challenges in an era of economic crisis and geopolitical instability: The case of the Mediterranean Sea," Marine Policy, Elsevier, vol. 51(C), pages 31-39.
    8. Aidan Regan, 2014. "What Explains Ireland’s Fragile Recovery from the Crisis? The Politics of Comparative Institutional Advantage," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 15(2), pages 26-31, April.
    9. Nocera, Silvio & Tonin, Stefania & Cavallaro, Federico, 2015. "Carbon estimation and urban mobility plans: Opportunities in a context of austerity," Research in Transportation Economics, Elsevier, vol. 51(C), pages 71-82.
    10. Aidan Regan, 2014. "What Explains Ireland’s Fragile Recovery from the Crisis? The Politics of Comparative Institutional Advantage," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 15(02), pages 26-31, April.

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