Understanding the crisis in Greece. From boom to bust

In recent years the Greek economy has been rigorously debated in the international financial arena. This book engages with the current economic challenges facing Greece, examining how and why a previously strong economy can come to the brink of complete collapse.

The Greek economy of the 90's posed a unique international paradox. It combined strong economic performance that had rapid GDP growth and strong productivity growth, with a weak performance on many other fronts that range from poor labour market institutions and low competitiveness, to poor environmental protection and high levels of corruption.

This volume examines the working of the Greek political system and the way it relates with the Greek society, the salient aspects of the Greek Constitution and the design of the political system and, ultimately, the failing of the rule of law. It presents the facts that undermine the long term prospects of the economy and reveals the nature of the powerful redistributive rent-seeking groups that keep markets closed and distorted, vehemently resisting reforms in Greece today.

The book is useful reading for all interested in Greece's economy, political economy and European economics.

Note: This paperback edition is an updated version of a 2011 hardback book with the same title (ISBN: 9780230237773; £68)

Contents:

Part I
1. Introduction
2. Vikings in Greece: Rents, the Design of the Greek Political System and the Blockage of Reforms
3. Corruption, Policy Inadequacy and the Greek Constitution
4. Efficiency and Quality of Justice in Greece

Part II
5. Strong Growth and Weak Institutions: The Greek Paradox Reconsidered
6. The Greek Economic Crisis and the Conditionality Program

Appendix 1: Road Transport in Greece and Government Intervention
Appendix 2: Shop Opening Hours in Greece
Appendix 3: Basic Examples of Details that Degrade the Greek Business Environment