The challenge of trade adjustment in Greece. / Arkolakis, Costas; Doxiadis, Aristos; Galenianos, Manolis.

Beyond austerity: Reforming the Greek economy. MIT Press, 2017.

Research output: Chapter in Book/Report/Conference proceedingChapter

Forthcoming

Standard

The challenge of trade adjustment in Greece. / Arkolakis, Costas; Doxiadis, Aristos; Galenianos, Manolis.

Beyond austerity: Reforming the Greek economy. MIT Press, 2017.

Research output: Chapter in Book/Report/Conference proceedingChapter

Harvard

Arkolakis, C, Doxiadis, A & Galenianos, M 2017, The challenge of trade adjustment in Greece. in Beyond austerity: Reforming the Greek economy. MIT Press.

APA

Arkolakis, C., Doxiadis, A., & Galenianos, M. (Accepted/In press). The challenge of trade adjustment in Greece. In Beyond austerity: Reforming the Greek economy MIT Press.

Vancouver

Arkolakis C, Doxiadis A, Galenianos M. The challenge of trade adjustment in Greece. In Beyond austerity: Reforming the Greek economy. MIT Press. 2017

Author

Arkolakis, Costas ; Doxiadis, Aristos ; Galenianos, Manolis. / The challenge of trade adjustment in Greece. Beyond austerity: Reforming the Greek economy. MIT Press, 2017.

BibTeX

@inbook{584b608982174850b65515fa8d4c8c7a,
title = "The challenge of trade adjustment in Greece",
abstract = "Greece{\textquoteright}s trade deficit declined by 10% of GDP between 2007 and 2012, removing one of the great economic imbalances of the pre-crisis years. However, this reduction was achieved exclusively through import compression while exports fell over that period, thereby worsening the economic crisis. This chapter studies Greece{\textquoteright}s export underperformance in comparison to Ireland, Portugal and Spain as well as Greece{\textquoteright}s own pre-crisis experience. The main findings are that (1) given past performance, Greece{\textquoteright}s exports should have increased by 25%, rather than drop by 5% between 2007 and 2012; (2) labor markets have adjusted to the new economic environment; (3) product markets did not adjust, hindering the recovery of competitiveness; (4) export underperformance is responsible for a third of the decline in GDP since 2007. We find that the business environment and firm size distribution in Greece are also hindering the necessary adjustment. ",
author = "Costas Arkolakis and Aristos Doxiadis and Manolis Galenianos",
year = "2017",
month = aug,
day = "1",
language = "English",
isbn = "9780262035835",
booktitle = "Beyond austerity",
publisher = "MIT Press",

}

RIS

TY - CHAP

T1 - The challenge of trade adjustment in Greece

AU - Arkolakis, Costas

AU - Doxiadis, Aristos

AU - Galenianos, Manolis

PY - 2017/8/1

Y1 - 2017/8/1

N2 - Greece’s trade deficit declined by 10% of GDP between 2007 and 2012, removing one of the great economic imbalances of the pre-crisis years. However, this reduction was achieved exclusively through import compression while exports fell over that period, thereby worsening the economic crisis. This chapter studies Greece’s export underperformance in comparison to Ireland, Portugal and Spain as well as Greece’s own pre-crisis experience. The main findings are that (1) given past performance, Greece’s exports should have increased by 25%, rather than drop by 5% between 2007 and 2012; (2) labor markets have adjusted to the new economic environment; (3) product markets did not adjust, hindering the recovery of competitiveness; (4) export underperformance is responsible for a third of the decline in GDP since 2007. We find that the business environment and firm size distribution in Greece are also hindering the necessary adjustment.

AB - Greece’s trade deficit declined by 10% of GDP between 2007 and 2012, removing one of the great economic imbalances of the pre-crisis years. However, this reduction was achieved exclusively through import compression while exports fell over that period, thereby worsening the economic crisis. This chapter studies Greece’s export underperformance in comparison to Ireland, Portugal and Spain as well as Greece’s own pre-crisis experience. The main findings are that (1) given past performance, Greece’s exports should have increased by 25%, rather than drop by 5% between 2007 and 2012; (2) labor markets have adjusted to the new economic environment; (3) product markets did not adjust, hindering the recovery of competitiveness; (4) export underperformance is responsible for a third of the decline in GDP since 2007. We find that the business environment and firm size distribution in Greece are also hindering the necessary adjustment.

M3 - Chapter

SN - 9780262035835

BT - Beyond austerity

PB - MIT Press

ER -