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How to Save Greece? A Menu for Rebuilding the Greek Economy through Industrial Policy

Author

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  • Benner, Maximilian

Abstract

Underlying Greece's public debt crisis is a fundamental economic problem: its lack of international competitiveness. While in the short term the debt crisis must be solved, in the long term the economic perspective of the country will depend on whether it will succeed in developing competitive industries. Reducing costs by lowering wages in case Greece stays in the eurozone or by devaluing its currency if it does not is only a short-term answer. Increasing Greek competitiveness will depend on a farsighted industrial policy targeted on upgrading the economy.

Suggested Citation

  • Benner, Maximilian, 2012. "How to Save Greece? A Menu for Rebuilding the Greek Economy through Industrial Policy," MPRA Paper 40748, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:40748
    as

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    File URL: https://mpra.ub.uni-muenchen.de/40748/1/MPRA_paper_40748.pdf
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    References listed on IDEAS

    as
    1. Ron Martin, 2012. "Regional economic resilience, hysteresis and recessionary shocks," Journal of Economic Geography, Oxford University Press, vol. 12(1), pages 1-32, January.
    2. Karl Aiginger, 2007. "Industrial Policy: A Dying Breed or A Re-emerging Phoenix," Journal of Industry, Competition and Trade, Springer, vol. 7(3), pages 297-323, December.
    3. Dohse, Dirk, 2000. "Technology policy and the regions -- the case of the BioRegio contest," Research Policy, Elsevier, vol. 29(9), pages 1111-1133, December.
    4. Dirk Dohse, 2007. "Cluster-Based Technology Policy—The German Experience," Industry and Innovation, Taylor & Francis Journals, vol. 14(1), pages 69-94.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Greece; industrial policy; euro crisis; SME; competitiveness; upgrading;

    JEL classification:

    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • F10 - International Economics - - Trade - - - General
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-

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