Tag: economic crisis

A MODULARITY DECOMPOSITION MODEL OF EVOLVING INPUT-OUTPUT SECTORIAL STRUCTURE

Dimitrios TSIOTAS

Assistant Professor, Department of Regional and Economic Development, School of Applied Economics and Social Sciences, Agricultural University of Athens, Neo Ktirio – Nea Poli, 33100, Amfissa (Phocis), Greece

tsiotas@aua.gr

(Corresponding Author)

Elias GIANNAKIS

Assistant Professor, Department of Agricultural Economics and Rural Development, School of Applied Economics and Social Sciences, Agricultural University of Athens, Iera Odos 75, 11855, Athens, Greece

egiannakis@aua.gr

Christos PAPADAS

Professor, Department of Agricultural Economics and Rural Development, School of Applied Economics and Social Sciences, Agricultural University of Athens, Iera Odos 75, 11855, Athens, Greece

cpap@aua.gr

Abstract

This paper builds on the network paradigm to model the evolving input-output (IO) economic structure of Greece into a multiplex network (GION) and unveils structural changes during the period 2005-2015, with reference to the 2008 economic crisis. The results illustrate that the GION resembles to a composition of windmill graphs, it is more clustered at the neighborhood scale, with a tertiary sectorial orientation, a solid performance of the trade and transportation industries, inelastic demand in energy-related economic activities, a neutral profile in communication and manufacturing relevant activities, insufficient connectedness of education, and vulnerable in the construction-related economic activities and the public sector. A major finding describes that the tourism industry is dynamic more due to its dependence on the supportive economies than the intrinsic industrial productivity. The time-series and community detection analysis provide insights into distinguishing three stages in the GION’s evolution: the pre-crisis period (2005-2007), with a centralized topology in terms of outgoing connectivity and degree inequalities; the on-crisis period (2008-2010), with a decentralized topology and a tendency to reduce degree inequalities; and the post-crisis period (2011-2015), with a new state of centralized topology illustrating a recovery process. The analysis also reveals a diversified configuration in the Greek economy compared to the three-sector classical breakdown, composed of “tourism” and “transportation and energy” sector-like components, and the traditional secondary and tertiary sectors. Overall, the analysis shapes a “balloon” waiving pattern in the network evolution and reveals solid and fragment-favorable economic interactions in the GION’s structure, promoting network analysis to the input-output structural modeling.

Keywords: input-output networks, structural analysis, community detection, economic crisis, Greece

JEL classification: R00, R15

 pp. 107-133

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THE IMPACT OF THE ECONOMIC CRISIS IN THE PROCESS OF CONVERGENCE OF THE GREEK REGIONS

Panagiotis KOUDOUMAKIS

Dr. Civil Engineer, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece

pkoudoum@civil.duth.gr

George BOTZORIS

Assistant Professor, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece

gbotzori@civil.duth.gr

Angelos PROTOPAPAS

Professor, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece

aproto@civil.duth.gr

Vassilios PROFILLIDIS

Professor, Democritus University of Thrace (DUTh), Department of Civil Engineering, Greece

vprofill@civil.duth.gr

Abstract

In this paper, the impact of the economic crisis on the convergence of the Greek region’s economy to the European average is examined. In particular, it is being considered the condition of absolute β-convergence using the econometric model of Barro and Sala-i-Martin. The dependent variable was represented by the average value of Gross Domestic Product (GDP) per capita in Purchasing Power Standards (PPS). Additionally the hypothesis of the σ-convergence of the regions of the EU and Greece is being considered, based on the coefficient of variation weighted by population. The results of both absolute β-convergence and σ-convergence suggest a declining trend of convergence and persistence of inequalities for the regions of the EU, following the outbreak of 2008 economic crisis. Regarding the regions of Greece, the results indicate, on the one hand, their deviation from the average income of the regions of the EU and, on the other, a significant increase in the regional disparities in the period 2000-2016.

Keywords: Convergence, Disparities, Economic Crisis, Regions

JEL classification: O41, R11, R12
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ILLEGAL CONSTRUCTIONS IN THE POST-MEMORANDUM GREECE Changes and constants in a chronic phenomenon

Nikolaos YOYAS

Architect NTUA, Msc Environmental Design, Urban Planning PHD Candidate

01@yio.gr

Abstract

The ¨stirring¨ of the problem of illegal constructions in Greece, during the last decade, that followed the issue of five consecutive laws regarding their integration in the country΄s official urban planning in the period 2009-2017, has led to a short-lived race of declaring and legitimizing illegal, constructions on behalf of the hundreds of thousands of popular owners. This institutional reform becomes, increasingly, significant in combination with the contemporary fiscal reform and the relevant tax burdening of realty owners. The timeless popular investment shelter of building ownership, for the first time after WWII, loses its immunity and becomes an unbearable tax weight, transforming popular illegal constructions into the national tool for transforming the country΄s real-estate map. Our ability to translate the outcome of this ¨crisis¨, through our route through all the past time, will define the quality of life in our new urban environment, but most important, our own standard of living and our future.

Keywords: Illegal constructions, urban planning, economic crisis

JEL classification: R0, R5
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