This book examines the economic interconnections of the Greek economy at a macro and micro level, allowing it to explore both the economic relations between the various sectors and the interconnections of various companies and overlaps in management boards. Two approaches are used to quantify interdisciplinary and cross-sectoral interfaces: the traditional input-output analysis approach and the “influence and information flow” approach through network analysis. The book's first part presents the current conditions and the economic interconnections within the Greek economy. In the second part, during the analysis of microeconomic interconnections between individuals and companies, a much more thorough presentation of the economic interconnections of Greek companies is established. Finally, the book’s third part presents how the Greek economy must transform its production prototype under structural constraints and opportunities for economic diversification and inclusive growth and under the pressure of economic shocks and uncertainty.
Author(s): Panagiotis E. Petrakis
Series: The Political Economy of Greek Growth up to 2030
Publisher: Palgrave Macmillan
Year: 2023
Language: English
Pages: 266
City: Cham
Preface
Acknowledgments
Praise for Interconnections in the Greek Economy
Introduction
Contents
Editor and Contributors
About the Editor
Contributors
Abbreviations
List of Figures
List of Tables
Part I Sectoral Interconnections in the Greek Economy
1 Industrial Policy and Productive Transformation: An Optimization Approach Based on Input–Output Analysis
1.1 Introduction
1.2 Productive Transformation and Input–Output Analysis
1.3 Productive Transformation: Different Aspects and Prospects
1.3.1 Promoting Industrialization
1.3.2 Promoting Product Sophistication and Diversification
1.3.3 Promoting Interconnectedness
1.3.4 Toward a Methodology for Productive Transformation
1.4 Productive Transformation and Industrial Policy: A Methodological Approach
1.5 The Formulation of the Mathematical Model for Greece
1.5.1 The Leontief Model
1.5.2 The Ghosh Model
1.5.3 Objective Functions and Constraints
1.5.4 The Optimization Problem
1.6 Future Directions
References
2 Greece Toward 2027: Structural Transformation, Industrial Policy, and Economic Development
2.1 Introduction
2.2 The Sectoral Structure of Greek Economy
2.2.1 Economic structure and the Technological Level of Production
2.2.2 External Trade and Technological Level of Imports and Exports
2.2.3 Economic Linkages and Sectoral Structure
2.2.4 Domestic Value-Added in Exports and Technological Level of Exports
2.2.5 Summary
2.3 Defining the Parameters of the Optimization Problem
2.4 The Optimization Algorithm
2.5 The Structural Transformation of the Greek Economy
2.5.1 The Structural Change of Production
2.5.2 The Structural Change of Economic Linkages
2.5.3 The Improvement of the Domestic Value-Added in Exports
2.6 Policy Interventions
References
3 A Regional Analysis Of Inputs-Outputs Of The Greek Economy: A Baseline Depiction Of Interconnections In Greece
3.1 Introduction
3.2 Input–Output Tables And Sectoral Interconnections: Theoretical Significance And Limits Of IOTs
3.2.1 Policy Ramifications And Applications Of IOTs
3.3 The Theoretical Framework Of IOTs
3.4 National And Regional Tables: Regional Policy
3.5 The Construction Processes Of Regional I-O Tables
3.6 Riots In Greece
3.7 Results
3.7.1 Intraregional Interconnections
3.8 Conclusions
Appendix
References
Part II Relations in the Greek Industries
4 Networks in Ownership and Management Structures
4.1 Introduction
4.2 Corporate Networks as Small-Worlds
4.3 Board Interlocks and Corporate Networks
4.4 Corporate Networks of Interlocking Ownership
4.5 Institutional Environment and Comparative Study
4.6 Application to Greek Companies
4.7 Further Research
Appendix
References
5 Connected Corporate Networks I: Definitions, Metrics and Empirical Results from the Greek Telecommunications Sector
5.1 Introduction
5.2 Literature Review
5.3 Methodology and Data
5.3.1 Definitions
5.3.2 Data
5.4 Empirical Results
5.4.1 Descriptive Statistics
5.4.2 Telcos in Greece
5.4.3 Statistics for Corporate Groups
5.5 Discussion
References
6 Connected Corporate Networks II: A Novel Approach to the Competition Measure
6.1 Introduction
6.2 Literature Review
6.3 Methodology
6.3.1 Management Positions in Related Entities
6.3.2 Ownership Relations in Related Entities
6.3.3 Distance in the Business Network
6.3.4 Turnover of the Connected Business Entity
6.4 Empirical Results
6.4.1 Telecommunications Sector
6.4.2 Oil Refining Sector
6.4.3 Metallurgical Activities Sector
6.4.4 Publishing Sector
6.4.5 Manufacture of Tobacco Products
6.4.6 Short Sea Shipping Sector
6.4.7 Air Transport Sector
6.5 Discussion
References
Part III Economic Shocks, Diversification and Economic Interconnections
7 Economic Shocks in Greece and the Effects on the Gross Value Added Per Economic Sector
7.1 Introduction
7.2 How Economic Policy Uncertainty Affects Sectoral Gross Value Added
7.3 Data and Methodology
7.4 The Effects of an Economic Policy Uncertainty Shock on the Greek Sectors of Economic Activity
7.5 Conclusions and Policy Recommendations
References
8 Identifying Smart Growth Policies for Economic Diversification and Sustainable and Inclusive Growth in the Greek Economy
8.1 Introduction
8.2 The Need to Change the Production Model of the Greek Economy
8.3 Smart Growth Policies for the Greek Economy
8.3.1 Government
8.3.2 Industry and Sectoral Policies
8.3.3 Culture
8.3.4 Environment
8.3.5 Academia, Knowledge and Innovation System
References
9 Networks and Interconnections in an Era of Trending Divergence
9.1 Introduction
9.2 Interconnection Effects and Challenges: Insights for Global Interactions
9.3 Networks as “Nodes” to the Future
9.4 Conclusions: Randomness and Order Shape Networks and the Future
References
Index
