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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Topics covered in this book
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Finance , Labor , Service , Productivity , resource allocation , firm size , judiciary services , judicial system reform , Greece's judicial system efficiency , Policy simulation , efficiency in Greece , Solvency , Corporate insolvency , Distressed assets , Global , business dynamism , reforms in product market regulation , regulatory reform , productivity dispersion , firm entry rate , Total factor productivity , Services sector , Commodity markets
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.
