Europeanisation, Public Goals and Group Interests: Convergence Policy in Greece, 1990-2003

Abstract

After prolonged stagnation in the 1980s and early 1990, Greece during the past decade or so has experienced a change from its post-war statist economic policy paradigm towards a liberal model. Focusing on political and political-economic aspects, this article gives an account of the reform of state interventionism in the 1990s. Different hypotheses are consistent with explaining distinct aspects of this policy change. The general interest and Europeanisation hypotheses are mainly borne out by macroeconomic stabilisation measures, but they cannot explain failure or delay in structural adjustment. The latter are better understood on the basis of public choice institutionalism and approaches emphasising uncertainty.