The Evolution of the Greek Economy: Past Challenges and Future Approaches

This book assesses the current state of the Greek economy and detects its development and growth prospects up to 2030. The analysis begins with 19th century Greece, addressing the repeated defaults that led to the formation of a dependent state, and the failed modernizing attempts. Then the book addresses current geostrategic dimensions as well as the current structure of institutions and culture in Greece. The second part presents the evolution of sustainability, governance, and inclusivity, as well as the evolution of culture in Greek society and insights into the production prototype. The third part of the book looks forward to what lays ahead for Greece up to 2030. It presents the theoretical background for two scenarios: the normal scenario (business as usual, including the effects of the recent Covid-19 pandemic) and the optimal scenario (a pro-growth scenario including increases of Total Factor Productivity through structural reforms). In presenting these scenarios, the book discusses issues ranging from a comparative analysis between Greece and the Eurozone, the developments in output gap and potential output, public debt, competitiveness, basic macroeconomic variables, a detailed analysis on investments, and inclusive growth.

Panagiotis E. Petrakis is Professor in the Department of Economics at National and Kapodistrian University of Athens, Greece, where he serves as Director of the Sector of International Economics and Development and Scientific Coordinator of Distance Education Training Programs. He was chairman of the Department of Economics at National and Kapodistrian University of Athens from 2005 to 2009. He is the author of numerous scientific articles and monographs and has extensive publications in recognized academic journals on economic development, entrepreneurship, and cultural background.

Pantelis C. Kostis is Adjunct Lecturer of Economics at National and Kapodistrian University of Athens and the Hellenic Open University, Greece. His research has been published in distinguished international academic journals including Journal of Business Research, Economic Modelling and the Journal of Socio-Economics. He is also the co-author of several books regarding the European and the Greek economy, and economic development and growth.