European University Institute Library

Beyond austerity, reforming the Greek economy, edited by Costas Meghir, Christopher A. Pissarides, Dimitri Vayanos, and Nikolas Vettas

eng

Includes bibliographical references and index

illustrations

index present

non fiction

Beyond austerity

bibliography

985690266

edited by Costas Meghir, Christopher A. Pissarides, Dimitri Vayanos, and Nikolas Vettas

reforming the Greek economy

More than eight years after the global financial crisis began, the economy of Greece shows little sign of recovery, and its position in the eurozone seems tenuous. Between 2008 and 2014, incomes in Greece shrank by more than 25 percent, homes lost more than a third of their value, and the unemployment rate reached 27 percent. Most articles on Greece in the media focus on the effects of austerity, repayment of its debt, and its future in the eurozone. In 'Beyond Austerity: Reforming the Greek Economy', leading Greek economists from institutions both within and outside Greece, take a broader and deeper view of the Greek crisis, examining the pathologies that made Greece vulnerable to the crisis and the implications for the entire eurozone. 0Each chapter takes on a specific policy area, examining it in terms of Greece's economic reality and offering possible directions for policy. The topics range from macroeconomic issues to markets and their regulation to finance to the public sector.0Individual chapters address the costs and benefits of participation in the eurozone, Greece's international competitiveness, taxation, pensions, the labor market, privatization, product markets, finance, education, healthcare, corruption, the justice system, and public administration. The contributors argue that Greek institutions require a deep overhaul rather than quick fixes to enable long-term growth and prosperity.--, Provided by Publisher

I. Introduction: the Greek economy before and during the crisis - and policy options going forward -- II. The macroeconomics of the crisis -- Greece and the Euro -- The challenge of trade adjustment in Greece -- III. Reforming markets -- Product market regulation and competitiveness: toward a national competition and competitiveness policy for Greece -- Privatizations: auction and market design during a crisis -- Labor market regulation and reform in Greece -- Financial development and the credit cycle in Greece -- IV. Raising standards in education and health -- Education and the Greek economy -- Reforming health care in Greece: balancing fiscal adjustment with health care needs -- V. Taxation and public transfers -- Tax and welfare reform in Greece -- Pensions: arresting a race to the bottom -- IV. Law and order and public administration -- The Greek justice system: collapse and reform -- Thinking about corruption in Greece -- Public administration and the tragic trident: understanding the organizational and structural drivers of the Greek malaise -- The dysfunctional structure of the Greek public administration and the challenges in reforming it