Selected Issues Papers

Improve Resource Allocation to Boost Growth in Greece

By Ritong Qu

May 9, 2025

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Format: Chicago

Ritong Qu. "Improve Resource Allocation to Boost Growth in Greece", Selected Issues Papers 2025, 058 (2025), accessed June 1, 2025, https://doi.org/10.5089/9798229012096.018

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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.

Subject: Commodity markets, Corporate insolvency, Distressed assets, Economic sectors, Financial crises, Financial markets, Financial sector policy and analysis, Production, Productivity, Services sector, Solvency, Total factor productivity

Keywords: Business dynamism, Commodity markets, Corporate insolvency, Distressed assets, Efficiency in Greece, Firm entry rate, Firm size, Global, Greece's judicial system efficiency, Judicial system reform, Judiciary services, Policy simulation, Productivity, Productivity dispersion, Reforms in product market regulation, Regulatory reform, Resource allocation, Services sector, Solvency, Total factor productivity

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