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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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Identification Number: 10.1093/cjres/rsr026

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
Subjects: H Social Sciences > HC Economic History and Conditions
Sets: Departments > European Institute
Research centres and groups > Spatial Economics Research Centre
Research centres and groups > Hellenic Observatory
Date Deposited: 21 Nov 2011 15:23
Last Modified: 22 Nov 2011 09:51
URI: http://eprints.lse.ac.uk/id/eprint/39697

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