IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

Structural Adjustment of the Greek Economy

Listed author(s):
  • Katseli, Louka Tarsitsa
Registered author(s):

    This study analyses the likely pattern of structural adjustment of the Greek economy as economic integration proceeds, in light of the structural rigidities present in the commodity, capital and labour markets. The presence of such rigidities is attributed to `state corporatism', identified as the prevalent mode of economic and social organization characterized by an interlocking set of interests and entitlements across the state, financial institutions and traditional industry. The state-corporatist environment has condoned and fostered the development of dual markets and has given rise to allocative inefficiencies in their operations. Integration challenges the fundamentals of state corporatism through trade and capital market liberalization, through exposure of the official sector to external competition and through the requirements imposed by macroeconomic policy coordination. In the short run, unemployment is likely to rise as profitability in the traded-good sector declines. In the medium run, industrial restructuring and increased competition could produce efficiency gains. The policy challenge is to redress internal and external imbalances and at the same time implement a sustainable programme for development, where there is structural adjustment with growth.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 374.

    in new window

    Date of creation: Feb 1990
    Handle: RePEc:cpr:ceprdp:374
    Contact details of provider: Postal:
    Centre for Economic Policy Research, 77 Bastwick Street, London EC1V 3PZ.

    Phone: 44 - 20 - 7183 8801
    Fax: 44 - 20 - 7183 8820

    Order Information: Email:

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:cpr:ceprdp:374. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.