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Kaldorian Approach to Greek Economic Growth

Author

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  • Drakopoulos, Stavros
  • Theodossiou, Ioannis

Abstract

In the last 30 years, Greece has experienced a rapid rate of economic growth which has transformed the economy and enabled it to become a member of the EEC. Specifically, Greece transformed itself from an agricultural economy with virtually no industrial base to an economy with a significant industrial sector and consequently a relatively high income per capita. One can explain this on the lines of a Kaldorian framework. In this paper we provide an outline of Kaldor's growth model and test its relevance to the economic experience of Greece during the 1967-1988 period. The empirical results suggest that the model can adequately explain the developments in the economy to a considerable degree

Suggested Citation

  • Drakopoulos, Stavros & Theodossiou, Ioannis, 1991. "Kaldorian Approach to Greek Economic Growth," MPRA Paper 48989, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:48989
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    References listed on IDEAS

    as
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    2. M. Chatterji & Michael R. Wickens, 1983. "Verdoorn’s Law and Kaldor’s Law: A Revisionist Interpretation?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 5(3), pages 397-413, March.
    3. Anonymous, 1967. "Poultry Market Statistics, 1966," Statistical Bulletin 153834, United States Department of Agriculture, Economic Research Service.
    4. John S. L. McCombie & John R. de Ridder, 1983. "Increasing Returns, Productivity, and Output Growth: The Case of the United States," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 5(3), pages 373-387, March.
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    6. Anonymous, 1967. "Poultry Market Statistics, 1966," Statistical Bulletin 153835, United States Department of Agriculture, Economic Research Service.
    7. Verdoorn, P J, 1980. "Verdoorn's Law in Retrospect: A Comment," Economic Journal, Royal Economic Society, vol. 90(358), pages 382-385, June.
    8. Parikh, A, 1978. "Differences in Growth Rates and Kaldor's Laws," Economica, London School of Economics and Political Science, vol. 45(177), pages 83-91, February.
    9. A. P. Thirlwall, 1983. "A Plain Man’s Guide to Kaldor’s Growth Laws," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 5(3), pages 345-358, March.
    10. Anonymous, 1967. "Feed Statistics Through 1966," Statistical Bulletin 153876, United States Department of Agriculture, Economic Research Service.
    11. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
    12. Kaldor, Nicholas, 1975. "Economic Growth and the Verdoorn Law-A Comment on Mr. Rowthorn's Article," Economic Journal, Royal Economic Society, vol. 85(340), pages 891-896, December.
    13. Rowthorn, R E, 1975. "What Remains of Kaldor's Law?," Economic Journal, Royal Economic Society, vol. 85(337), pages 10-19, March.
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    Citations

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    Cited by:

    1. Lavopa, Alejandro & Szirmai, Adam, 2012. "Industrialization, employment and poverty," MERIT Working Papers 081, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    2. Rahmi Yamak & Havvanur Feyza Erdem & Sinem Koçak, 2016. "A Re-Examination of Kaldor’s Engine-of-Economic Growth Hypothesis for the Turkish Economy," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 12(4), pages 347-357, October.
    3. García Muñiz, Ana Salomé & Ramos Carvajal, Carmen, 2012. "Linkages, contagion and resilience: an input-output scope from the demand and supply side," MPRA Paper 59369, University Library of Munich, Germany.
    4. Drakopoulos, Stavros A. & Theodossiou, Ioannis, 1992. "A Kaldorian Approach to Greek Economic Growth: A Reply," MPRA Paper 83213, University Library of Munich, Germany.
    5. Concetta Castiglione, 2011. "Verdoorn-Kaldor’s Law: an empirical analysis with time series data in the United States," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 1(3), pages 1-8.
    6. Jordi Pons-Novell & Elisabet Viladecans-Marsal, 1998. "Spatial dependence and Kaldor's laws: Evidence for the European regions," ERSA conference papers ersa98p55, European Regional Science Association.
    7. Ana Salome GARCIA MUÑIZ & Carmen RAMOS CARVAJAL, 2015. "Input-Output Linkages And Network Contagion In Greece:Demand And Supply View," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 15(2), pages 35-52.
    8. Jordi Pons-Novell & Elisabet Viladecans-Marsal, 1999. "Kaldor's Laws and Spatial Dependence: Evidence for the European Regions," Regional Studies, Taylor & Francis Journals, vol. 33(5), pages 443-451.
    9. Fidel Aroche Reyes, 2014. "The Greek Economic Structure in the 2000's: A Road to Crisis?," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 12(1), pages 35-64.
    10. Gilberto Libânio & Sueli Moro, 2011. "Manufacturing Industryand Economic Growth in Latin America," Anais do XXXVII Encontro Nacional de Economia [Proceedings of the 37th Brazilian Economics Meeting] 86, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
    11. Tregenna, Fiona, 2011. "Manufacturing Productivity, Deindustrialization, and Reindustrialization," WIDER Working Paper Series 057, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    Keywords

    Economic Growth; Greece; Kaldor;

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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