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Sector Analysis and Economic Growth in Greece: The Domination of Tourism over Other Sectors

In: Economic Growth in the European Union

Author

Listed:
  • Konstantinos Spinthiropoulos

    (University of Macedonia)

  • Christos Nikas

    (University of Macedonia)

  • Eleni Zafeiriou

    (Democritus University of Thrace)

Abstract

The present chapter examines the impact of significant sectors of the Greek economy and their relationship with economic growth. The variables employed for this study involve tourism-generated GDP, money supply, construction and taxation, and economic growth in Greece while the methodology employed is the multivariate autoregressive VAR model. The long-term relationship between GDP and the variables examined was validated for the period between 1965 and 2015. According to our findings, the “growth engine” for Greece seems to be tourism, rather than the manufacturing sector, while they confirm a shift away from the tertiary toward the primary sector. The results provide policy-makers with effective policy tools for the simultaneous economic growth of the two aforementioned sectors.

Suggested Citation

  • Konstantinos Spinthiropoulos & Christos Nikas & Eleni Zafeiriou, 2020. "Sector Analysis and Economic Growth in Greece: The Domination of Tourism over Other Sectors," Contributions to Economics, in: Christos Nikas (ed.), Economic Growth in the European Union, pages 167-176, Springer.
    • Handle: RePEc:spr:conchp:978-3-030-48210-7_12
    DOI: 10.1007/978-3-030-48210-7_12
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    Cited by:

    1. Alina-Cerasela Aluculesei & Puiu Nistoreanu & Daniel Avram & Bogdan Gabriel Nistoreanu, 2021. "Past and Future Trends in Medical Spas: A Co-Word Analysis," Sustainability, MDPI, vol. 13(17), pages 1-20, August.

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