Munich Personal RePEc Archive

A hesitant evolution: industrialisation and de-industrialisation in Greece over the long run

Louri, Helen and Pepelasis Minoglou, Ioanna (2002): A hesitant evolution: industrialisation and de-industrialisation in Greece over the long run. Published in: Journal of European Economic Studies , Vol. 31, No. 2 (2002): pp. 321-348.

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Abstract

The paper is an attempt to examine the idiosyncratic unfolding of Greek industrialisation and de-industrialisation from a long-run perspective (1867-1994). Following stylized facts, it is shown that the main shifts in the Greek economy occurred outside industry (from agriculture to services). Also, industrialization was a hesitant process evolving slowly and reaching a plateau in 1950-73. Three structural continuities that accompanied this progress have been a large state sector, the commercial character of Greek entrepreneurship and the incomplete transition from a mercantile/family to corporate capitalism. Also, a rising share of manufacturing in GDP related consistently with increasing per capita income, improving trade performance and ‘trading up’ efforts within manufacturing.

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