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

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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.

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  • 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
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    References listed on IDEAS

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    1. Rodrik, Dani, 2004. "Industrial Policy for the Twenty-First Century," CEPR Discussion Papers 4767, C.E.P.R. Discussion Papers.
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    3. Maximilian Benner, 2011. "How export-led growth can lead to take-off," Working Paper Series in Economics 222, University of Lüneburg, Institute of Economics.
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    5. 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.
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    Cited by:

    1. Benner, Maximilian & Buzin, Johannes & Hoffmann, Jakob & Taifour, Ahmad Azzam, 2017. "Inclusive local development: A strategy for Heraklion, Greece," MPRA Paper 81323, University Library of Munich, Germany.
    2. Benner, Maximilian, 2012. "Cluster Policy: Principles and a Toolbox," MPRA Paper 43847, University Library of Munich, Germany.
    3. Maximilian Benner, 2012. "Cluster Policy as a Development Strategy. Case Studies from the Middle East and North Africa," Working Paper Series in Economics 255, University of Lüneburg, Institute of Economics.

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    More about this item

    Keywords

    Greece; industrial policy; euro crisis; SME; competitiveness; upgrading;
    All these keywords.

    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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