Economy Of Greece Research Articles

Voluntary Insurance for Rapid Growth-trends of Transactions in E-Banking Service-Market: Seeking Policymakers’ Attentions in Greece Economy

Voluntary Insurance for Rapid Growth-trends of Transactions in E-Banking Service-Market: Seeking Policymakers’ Attentions in Greece Economy

Better Regulation and the Secretariat General for Legal and Parliamentary Affairs of the Presidency of the Hellenic Government: A Considerable Work Already in Progress

Abstract This paper article scrutinizes the initiatives for Better Regulation implemented in Greece, set against the backdrop of a globalized world that is persistently grappling with sporadic, and occasionally dramatic and chaotic, challenges. A significant proportion of these initiatives are designed to mitigate the enduring adverse effects on Greece economy, environment, and society, which are the consequences of a flawed legislative process. This process has been criticized in numerous studies and reports for its bureaucratic red tape, inefficiency, fragmentation, and lack of a culture promoting better regulation. The handbooks and methodologies examined in this article originate from the law on the Executive State and were executed under the auspices of the European Commission (DG REFORM) Technical Support Action, which was implemented by Expertise France and is titled: “Support Public Administration Reform and its Digital Transformation.” Most of these initiatives have been successfully completed and implemented, while the completion of others is imminent. In conclusion, the author suggests several additional measures for implementation, which are intended to enhance the reforms that are already in place.

Local economic resilience and economic specialization in Greece during the crisis

This paper scrutinizes the issue of economic resilience, aiming to detect the existence of a systematic link with economic specialization. To this end, the paper conducts an empirical analysis at the local (i.e., municipal) level of Greece during the economic crisis period (2009–2015), providing cartographic visualizations and spatial econometrics estimations. Greece is the country that was hit the hardest by the economic crisis. Thus, the need to stabilize the national economy in Greece has seemingly outweighed policy issues of spatial interest, which are also of extreme importance. The findings of the paper reveal that, inter alia, both the level and the nature of economic specialization exert an impact on local economic resilience, providing insight into both theory and policy making.

Greece’s Debt Crisis (2008-2019): An Analysis

The Greek crisis began in November 2009, triggered by the turmoil of the global Great Recession, structural weaknesses in the Greek economy, and a lack of monetary policy flexibility as a member of the Eurozone. Since that time, Greece's economy has started to deteriorate due to a growing debt load and an unmanageable deficit are having an impact on national security. Thus, this study examined the impact of the debt crisis on Greece’s national security by using secondary data from 2009 to 2018.This study has three objectives, namely examining (1) the factor that contributed to Greece’s debt crisis; (2) the impacts of Greece’s debt crisis on its security; and (3) the Greece's approach to overcome its debt crisis. By using a qualitative approach, secondary data from scientific material such as thesis, journal papers and online data were collected. The findings revealed (1) there are four factors that led to the debt crisis in Greece such as political, government expenditure and revenue, social and EU enforcement regulations; (2) other countries, including the US and the Eurozone, as well as Greece itself, have been impacted by the crisis' repercussions on social, economic, political, and security aspects; and (3) Greece had to go through a series of restructuring to be free of this debt crisis. This study concludes, due to poor administration, Greece's debt crisis has a negative impact on security, the economy, politics, and society. Even though there were numerous foreign interventions in the crisis, it didn't just affect Greece; it also impacted other countries like EU members and the US.

Voluntary Insurance for Rapid Growth-trends of Transactions in E-Banking Service-Market: Seeking Policymakers' Attentions in Greece Economy

Voluntary Insurance for Rapid Growth-trends of Transactions in E-Banking Service-Market: Seeking Policymakers' Attentions in Greece Economy

Transmuting solidarity: hybrid-economic practices in the social economy in Greece

ABSTRACT This article explores the consequences of fusing market-based and social principles for how ‘the social’ and solidarity is understood. To do so, I turn to the recently formalized ‘Social and Solidarity Economy’(SSE) in Greece. I conceptualize the SSE as a governmental mode of power that attempts to render social and market-based principles as commensurate. I claim this occurs through the codification and proliferation of what we may call ‘hybrid-economic practices’ – such as social impact measurement, and social innovation. Hybrid-economic practices fuse a utilitarian, efficiency-maximizing logic that weighs costs and benefits, with narratives of solidarity and collective social purpose. Based on a qualitative analysis of the SSE law in Greece and interviews with practitioners and policy-makers, I claim that fusing market-based and social principles come at the cost of depleting the political and ethical components of solidarity and ‘the social.’ Yet, rather than depoliticizing them, I argue hybrid-economic practices more appropriately transmute how solidarity and ‘the social’ is understood through three mutually constitutive processes: economization, entrepreneurialization, and communitarianization.

Debt Crisis (2008-2019): Impacts Towards Greece’s National Security

The Greek crisis began in November 2009, triggered by the turmoil of the global Great Recession, structural weaknesses in the Greek economy, and a lack of monetary policy flexibility as a member of the Eurozone. Since that time, Greece's economy has started to deteriorate due to a growing debt load and an unmanageable deficit are having an impact on national security. Thus, this study examined the impact of the debt crisis on Greece’s national security by using secondary data from 2009 to 2018.This study has three objectives, namely examining (1) the factor that contributed to Greece’s debt crisis; (2) the impacts of Greece’s debt crisis on its security; and (3) the Greece's approach to overcome its debt crisis. By using a qualitative approach, secondary data from scientific material such as thesis, journal papers and online data were collected. The findings revealed (1) there are four factors that led to the debt crisis in Greece such as political, government expenditure and revenue, social and EU enforcement regulations; (2) other countries, including the US and the Eurozone, as well as Greece itself, have been impacted by the crisis' repercussions on social, economic, political, and security aspects; and (3) Greece had to go through a series of restructuring to be free of this debt crisis. This study concludes, due to poor administration, Greece's debt crisis has a negative impact on security, the economy, politics, and society. Even though there were numerous foreign interventions in the crisis, it didn't just affect Greece; it also impacted other countries like EU members and the US.

Study on the variables reflecting the action of interest groups. The case of Greek economy

In literature there are many studies considering the action of interest groups in several countries’ societies and economies. In order to study the effect of special interest groups in the economy of each country, a multitude of variables have been used by researchers. After an extended bibliographic research in the recording of the economy affecting variables that have been used, this research presents a methodology for the selection of those which better represent the action of interest groups in the economy of Greece. The methodology used is based on Principal Component Analysis and therefore on the correlation tests needed. In this way it can be concluded which variables can be more advantageous in future research.

Public awareness of renewable energy sources and Circular Economy in Greece

Over the past decades, the penetration of renewable energy sources is growing at a significant pace on a global scale. In parallel, the utilization of renewables could possibly act as the basis for the transition to a Circular Economy, which aims to reduce the use of finite resources. Compared to other European countries, Greece has achieved a significant share of renewables in its' energy mix and in parallel promotes various policies aiming to accomplish zero-carbon emissions by 2050. An important element of this procedure is the broader acceptance of renewables by the public. This paper investigates this concept by capturing citizens’ view on renewable energy sources along with the overall concept of Circular Economy in Greece. By implementing a questionnaire analysis, empirical findings capture the intention of citizens to further develop and invest on renewable energy. Besides, our analysis identifies that as education level increases, the willingness to pay more for renewables and their acceptance from the public increases, as well. Finally, empirical findings indicate that Greek citizens are aware of the concept and the benefits arising from Circular Economy, yet additional efforts need to be addressed for the growth of this concept in Greece.

The Impact of Internal Audit on Public Administration

The role of Internal Audit (IA) is considered particular- ly important, especially in recent years when the economy of Greece, and not only, has been shaken by both the financial and recent pandemic crisis. In this new environment, IA emerges as a cognitive scientific subject with practical professional orientation-, in which the executives, in both the public and the private sectors, should be trained in order to respond to the expanded needs and requirements of their role. This study aims to answer three linked research questions (RQ): - How are studies of IA in the public sector progressing? - What does the existing literature on public sector IΑ emphasize, and where do its critics lay? - The future of government-funded IA studies: what lies ahead? We conducted a literature review on the databases Scopus, Web of Science, and Google Scholar, using the terms “accounting fraud”, “internal audit”, “public governance”, and “external audit”, published in English, over the decade 2010-2019. Increased scholarly interest in the subject has been noted, although most publications focus on a single country, especially those of emerging markets. Research interest is conducted at all levels of government, albeit it has primarily focused on the municipal level. The studies' majority is focused on governance and business success through quantitative analysis and often ignores theory. It is clear, finally, that scholars must focus on comparative research, between countries and markets, which will take into account also the cultural, institutional, and demographic factors that influence the IA. The findings of this research would be of interest hopefully to academics, industry professionals, and executives with concerns about the pressing IA issues.

Spatiotemporal patterns of commercial activities in Exarchia-Neapoli area.

The focus of this paper is the analysis of spatio-temporal patterns of commercial activities in the area of Exarchia-Neapoli, in Athens, during the last decade. A significant downturn during the financial crisis has left its mark on commerce along with all other sectors of the economy in Greece. However, there is poor geographical analysis up to this date, depicting the changes in spatial concentration and dispersion of shops, flourishing and decaying sectors and their spatial footprint. The main purpose of this study is to reveal these transformations in a central mixed-use neighborhood of Athens. The type of commercial activity of ground floor stores and offices in the area is recorded at three different points in time (2009, 2014, 2019). After the collection and categorization of data, spatial analysis was carried out using geostatistical indicators such as mean center and standard deviational ellipse and spatial patterns were determined through nearest neighbor analysis. Τhe analysis over space and time reveals trends and patterns of clustering and avoidance respectively, both within commercial uses and between different ones. Furthermore, their correlation with the centrality of the network (space syntax analysis) reveals not only proximity relationships, but also their strength and resilience over time. Finally, we discuss our findings in relation to the dynamics of commerce in the Exarchia area and propose scaled-up research opportunities.

Inward and outward FDI and the shadow economy during the Greek Economic Crisis

The purpose of the paper is to discover the bearing of inward and outward FDI and the shadow economy on the Greek Economic Crisis (GREC) in reviving the shattered economy. Students and researchers of the global economic crisis will benefit from this novel approach in exploring the GREC from the inward and outward FDI and the shadow economy perspective. The paper establishes that inward and outward FDI and FDI stock as a percentage of GDP, after a substantial period of ups-and-downs, was on the road to recovery as the economy was coming out from the crisis. The shadow economy in Greece exhibits a paradoxical evolution, as it substantially declined due to the sharp reduction in incomes that reduced the demand for activities in the shadow economy. Economic policymakers need to exploit the recovery of inward and outward FDI and this once in a lifetime opportunity of the substantial reduction of the shadow economy.

An Inquiry into the Nature and Causes of the Wealth of Nations from Shipping: The Paradigm of Greece—Part I, from Origin to 1950

Greeks were sailors, shipowners and merchants for 10,000 continuous years. They created a strong navy of 1186 ships in 2000 BC. The navy enabled Greeks to create over 100 colonies in the Mediterranean, including the conquest of Troy and the defeat of the Persians in 480 BC at Salamis. The tradition has been maintained over more than 165 generations, even at times when Greece was occupied by the Romans and the Ottomans. The reasons for this long-standing tradition are examined. Even today, in 2022, Greek-owned shipping leads many glorious shipping nations such as Japan, China and UK. The reasons for this tradition can be found in the economy of Greece, the geography of Greece as an archipelago, and the international and mobile character of the Greek people. Greek shipowners were open to innovation, but with a certain delay in the particular introduction of steam, and faster in establishing offices in other countries where business could be conducted. In addition, the Greek state saw shipping as “the chicken producing the golden eggs” and asked at in wrong time for buying ships.

Investigating the role of the International Monetary Fund in the process of resolving financial crises: case study of Greece

The economic crisis in the United States and its spread to continental Europe caused a financial crisis in European stock markets, which in turn reduced production in Europe, resulting in rising unemployment, that eventually led to protests against the current economic situation. These political unrests have prompted international and regional governments and financial institutions such as the International Monetary Fund, the World Bank and the European Central Bank to find a way to end this severe financial crisis. Greece, as one of the EU member states that has been affected by this global crisis, has made efforts to improve its economic situation. The main question of this study is to what extent the International Monetary Fund was able to help resolve the financial crisis in Greece? The hypothesis is that due to the conditionality of financial aid from the International Monetary Fund to Greece in crisis and Greeces lack of attention to the full implementation of austerity programs, such financial aid has not been able to save the Greece economy from financial crisis. One of the aims of this study is to what extent developing countries can rely on IMF recommendations to overcome the financial crisis. The aim of the research is to find out why International Monetary Fund could not adopt proper monetary and financial policy to settle the financial crisis in Greece. Moreover, the reasons behind failed attempts of Greeces policymakers to implement IMFs austerity measures in their country are sought.

Effects of Intensive and Semi-Intensive Production on Sheep Milk Chemical Composition, Physicochemical Characteristics, Fatty Acid Profile, and Nutritional Indices.

Simple SummaryIntensive and semi-intensive sheep farming are the two farming systems usually employed in Greece. Several studies have been conducted on the effect of the farming system on sheep milk fatty acid composition. This study simultaneously examines milk basic composition, physicochemical characteristics, fatty acid composition, and nutritional value according to the production system. Bulk tank milk from farms using the intensive and semi-intensive production systems was analyzed. The results show that grazing can improve the fatty acid composition of milk. Thus, pasture-based feeding strategies could improve the fatty acid composition and the nutritional properties of sheep dairy products.Dairy sheep farming is a vital sector of the agricultural economy in Greece. Information on the effect of the farming system on sheep milk characteristics is critical for producing dairy products with improved nutritional value according to the current guidelines for healthy food consumption. This study aimed to investigate the basic composition, physicochemical characteristics, fatty acid composition, and nutritional indices of milk produced in intensive and semi-intensive sheep farms. Bulk tank milk samples from 20 intensive and 20 semi-intensive sheep farms were examined. Sheep in the intensive farms were kept indoors and were fed with roughage, silage, and concentrates. Sheep in the semi-intensive farms were kept indoors during the night and were moved to the pastures during the day. Sheep were fed with roughage, silage, and concentrates in combination with grazing. Milk composition and somatic cell count were determined with automatic analyzers. The physicochemical characteristics were determined with standard laboratory methods. The fatty acid composition was analyzed by gas chromatography. The farming system did not affect milk chemical composition and physicochemical characteristics. However, milk fatty acid composition and nutritional value were significantly improved in milk from farms using the semi-intensive production system, and this favorable effect was attributed to the inclusion of pasture in sheep diet.

The Economy of Greece and the FIFA Ranking of its National Football Team

The purpose of this study is to compare the performance of the Greek economy with the FIFA ranking of the Greek National Football Team in order to find out whether there exists some sort of statistical association. The period under consideration starts with the establishment of the European and Monetary Union in 1992 and ends with the current year of 2021. In 1992, FIFA started to rank national football teams which restricts the extent of time to be used in this study. The descriptive evidence presented in this paper shows that there exists strong positive association between the level of real Gross Domestic Product (GDP) of Greece and the ranking of its national football team. Keywords: FIFA, Greece, Football, GDP, European Union, National Teams.

Role of Revenue Mobilisation in the Growth and Development of Economy: A Case Analysis of Greece

The mobilizing processes in terms of long-term impact on the economy of Greece and the euro zone. Thereafter, Troika was invented in order to facilitate Greece to overcome the historical crisis.Research aim: The research has its focus on bureaucratic obstacles as well as complicated policies of fiscal laws under European Governance and regulations. Revenue mobilization might have influenced the country from a huge amount of debts. Since, it has been proved to be productive and effective, as per policies formed from the transferable Troika’s policies. The contemporary crisis was handled with the resiliency of revenue mobilization along with digitization and innovations. The primary objective of the tax system is to raise the revenue that will aid in offering the nation with valuable services to the citizens, developing the nation, encouraging innovations and trade.Period: the period of imposing revenue mobilization in the growth and the development of the economy of Greece.Research method: After the whole research study the methodologies used is the secondary methods where no analysis or physical surveys are done. The primary methods are not used all the methods are based on the researches and the studies available. The effects that have been observed by the development functions and the statistics that is available after the influence of the growth after the revenue mobilization.Country: The country taken here is GREECEResearch result: Revenue mobilization has been considered as an excellent choice for the development of the economy of a country. Taking help from the International Monetary Fund or the World Bank is considered as debt which has to be repaid, whereas revenue is collected from the country itself as taxation and tariffs. The revenue has helped the government to accumulate capital for various expenditures in the development of the nation such as building infrastructure and improving health facilities.

The contribution of organized food retail to the Greek socio-economic development during the years of economic crisis

The economic crisis in the EU had severe impacts not only on the performance of the domestic economy but also on the living standard for the citizens. The extended spread of this crisis resulted in limitation in the disposable income and significant negative changes have taken place with negative consequences for the corporate economic performance and competitiveness (de Jorge Moreno, Castillo, & de Zuani Masere, 2010). Within the dominance of certain conditions of economic crisis, there are a few firms that act as lighting exceptions. The present work makes an effort, to unveil the role of selected supermarket retail chain stores in the performance of certain macroeconomic parameters and therefore to illustrate the mechanism through which the restoration of the economy in Greece becomes feasible. More specifically, based on data derived by Eurostat and Greek National Statistics with the assistance of the findings of present analysis that validate a significant contribution of the firms studied to macroeconomic parameters such as national income or employment it may provide policymakers with knowledge tools to promote corporate efforts of this type and in sequence to lead the macroeconomic system in a trajectory of economic growth.

Banking Development and Economy in Greece: Evidence from Regional Data

This article examines the development of Greek systemic banks for the period 2003–2018, using data such as the ATM network and branches at a regional level. We test the impact of the ATM network and branches on the deposits of Greek commercial banks as well as the impact of local GDP on the regional banking efficiency. The analysis is carried out in two steps, (1) we use the Data Envelopment Analysis (DEA) for efficiency analysis, and (2) we use panel regression models for regression analysis. The results show that branches that operate at small regions are less efficient than those of the larger regions. Furthermore, both the ATMs and the number of branches have a positive relationship with deposits. This means that banks must continue to operate branches and ATMs in Greece. Finally, we show that local GDP helps significantly in increasing regional banking efficiency. The above findings are important given the need to support the local economy with modern banking services in Greece.

State and Social Solidarity Economy: Friends or foes? The potential for co-construction of public policies for Social Solidarity Economy in Greece

Kοινωνική και Aλληλέγγυα Oικονομία και κράτος: φίλοι ή εχθροί;Η δυνατότητα συν-διαμόρφωσης δημόσιων πολιτικών για την Κοινωνική και Αλληλέγγυα Οικονομία στην ΕλλάδαΤο παρόν άρθρο αναφέρεται στη σχέση μεταξύ του κράτους και της Κοινωνικής Αλληλέγγυας Οικονομίας (ΚΑΟ) επικεντρώνοντας στην περίπτωση του νόμου 4430/2016 για τους Φορείς ΚΑΟ στην Ελλάδα. Αυτό το νομικό πλαίσιο εισήχθη σε μια εποχή που ένα νέο κύμα συνεργατισμού είχε εμφανιστεί στην Ελλάδα της κρίσης, ενώ ένα κόμμα της ριζοσπαστικής αριστεράς με ισχυρές σχέσεις με κοινωνικά κινήματα είχε την πρωτοβουλία για να σχηματίσει κυβέρνηση. Σε αυτό το πλαίσιο, διερευνήσαμε τις δυνατότητες μιας νέας πορείας στην αλληλεπίδραση κράτους και ΚΑΟ μέσα από το πρίσμα της συν-διαμόρφωσης δημόσιων πολιτικών. Τα αποτελέσματα που παρουσιάζονται σε αυτό το άρθρο βασίζονται σε ένα ερευνητικό έργο που χρηματοδοτήθηκε από το Ίδρυμα Χάινριχ Μπελ Γραφείο Θεσσαλονίκης. Το ερευνητικό σχέδιο βασίζεται σε μικτές μεθόδους: στην ανάλυση περιεχομένου των παρεμβάσεων δικτύων και υποστηρικτικών οργανώσεων κατά τη διάρκεια των διαδικασιών διαβούλευσης, και την ανάλυση των αποτελεσμάτων ημι-δομημένων συνεντεύξεων με επιλεγμένα δίκτυα και φορείς στήριξης της ΚΑΟ στην Ελλάδα.