The state and the market : The Greek economy on the eve of Maastricht Treaty
Part of : Balkan studies : biannual publication of the Institute for Balkan Studies ; Vol.33, No.2, 1992, pages 323-337
Issue:
Pages:
323-337
Section Title:
Articles
Author:
Abstract:
The 1980s were a decade of growth for all European economies exceptGreece. The 1992 Program and the Maastricht Treaty envisioned a convergenceof the Community’s economies, but the Greek economy diverged fromthe rest of the Community in the 1980s. Plagued by macroeconomic andmicroeconomic imbalances, high real interest rates, inflation, fiscal and internationaltrade imbalances, the economy is not prepared to meet the requirementsfor economic and monetary union (EMU). The unpreparedness wascaused mainly by income and employment policies that emphasized publicand private consumption at the expense of investment and structural change,with a loss of international competitiveness. This paper traces the role of thestate in terms of domestic and external environments that led to economicstagnation.
Subject (LC):
Keywords:
Ελληνική οικονομία, Συνθήκη Μάαστριχτ
Notes:
Το άρθρο περιέχει πίνακες.
