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Making geographical sense of the Greek austerity measures: compositional effects and long-run implications

Monastiriotis, Vassilis (2011) Making geographical sense of the Greek austerity measures: compositional effects and long-run implications. Cambridge Journal of Regions, Economy and Society, 4 (3). pp. 323-337. ISSN 1752-1378

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Abstract

This paper examines the geographical impact of the recent austerity measures in Greece. Owing to compositional differences across regions, the horizontal measures are found to amplify existing disparities. It is argued that under certain conditions, relating to wider spatial imbalances in the country, this can trigger cumulative divergence processes that may be hard to address in the future. To correct this, it is proposed that revenue-generating efforts should concentrate more on tackling tax evasion and increasing tax progressivity; while the reduction in public consumption should be compensated by targeted increases in public investment. Facilitating the early release of already earmarked European Union funds can be central for such a strategy.

Item Type: Article
Official URL: http://www.oxfordjournals.org/
Additional Information: © 2011 The Author
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
Journal of Economic Literature Classification System: O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O18 - Regional, Urban, and Rural Analyses
R - Urban, Rural, and Regional Economics > R1 - General Regional Economics > R11 - Regional Economic Activity: Growth, Development, and Changes
R - Urban, Rural, and Regional Economics > R1 - General Regional Economics > R12 - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade
R - Urban, Rural, and Regional Economics > R3 - Production Analysis and Firm Location > R38 - Government Policies; Regulatory Policies
Sets: Departments > European Institute
Research centres and groups > Spatial Economics Research Centre
Research centres and groups > Hellenic Observatory
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 21 Nov 2011 15:23
URL: http://eprints.lse.ac.uk/39697/

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