Improve Resource Allocation to Boost Growth in Greece

The productivity growth of the Greek economy has stagnated since the 2010 European Debt Crisis. Despite reforms in product market regulations; their impact on productivity has been mixed.
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Volume/Issue: Volume 2025 Issue 058
Publication date: May 2025
ISBN: 9798229012096
$15.00
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Summary

The productivity growth of the Greek economy has stagnated since the 2010 European Debt Crisis. Despite reforms in product market regulations; their impact on productivity has been mixed. Firm-level data shows that resource misallocation worsened from 2009 to 2020; especially in non-tradable services and smaller firms. Although many firms have become more productive and new high-potential firms have emerged; their growth hasn't been sufficient to boost overall productivity. Accelerating regulatory reforms could enhance competition and improve business dynamism.