This book not only analyzes and evaluates the current state of economic growth and development in Greece, but also investigates the potential for growth and development in the mid- to long-term horizon. This book presents a unique theoretical framework drawing on structural elements of political economy such as institutions, cultural background, and the complex nature of politics and political power, as well as neoclassical economics and behavioral economics. The first part of the book introduces readers to some key concepts of normative analysis from a theoretical and methodological perspective, presents the relation between theory and policy, placing the Greek economy within the framework of the Eurozone, and provides the political economy of integrated growth and development in Greek economy. The second part of the book describes the current condition of Greece in the global economy and attempts to detect the major social, economic and political trends that will prevail in the Greeksociety, while pointing the challenges that the Greek economy will face across the coming decade by taking into account the Covid-19 crisis. The third part of the book provides an overview of growth and development theory as specifically applied to Greece, focusing on the endogenous forces driving the economy, and portrays how the 2008 financial crisis and the crisis of Covid-19 transformed the framework of Greek growth and development policy, to the ground of a new consolidated situation of low growth, low inflation and low employment in the case of Greek economy.

Autorentext

Panagiotis E. Petrakis is Professor in the Department of Economics at National and Kapodistrian University of Athens, Greece, where he serves as Director of the Sector of International Economics and Development and Scientific Coordinator of Distance Education Training Programs. He was chairman of the Department of Economics at National and Kapodistrian University of Athens from 2005 to 2009. He is the author of numerous scientific articles and monographs and has extensive publications in recognized academic journals on economic development, entrepreneurship, and cultural background.

Inhalt

Part I. Introduction

1. Introduction

2. Theory and Policy

3. The Greek Economy as a Member of the Eurozone

4. The Political Economy of Integrated Growth and Development in the Greek Economy

Part II. Development Theory, Sources of Growth and the Greek Economy

5. The Greek Economy in the World

6. The Great Macro-Social Trends

7. The Great Macroeconomic Trends

8. The Political Megatrends

Part III. Major Theoretical Issues and Greek Economic Development

9. The Sources of Growth and Development Policy in the Greek Economy

10. The Endogenous Concept of Growth in the Greek Economy

11. Monetary, Fiscal and Structural Policy in the European and Greek Economy

12. Economic and Development Policy in the Age of Low Growth and Low Inflation in the Greek Economy