Greece : 2016 / OECD.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, author.

Contributor:

Organisation for Economic Co-operation and Development, contributor.

Series:

OECD Economic surveys (Series)

OECD Economic Surveys

Language:

English

Subjects (All):

Economic history.

Greece--Economic conditions.

Greece.

Greece--Economic policy.

Physical Description:

1 online resource (140 p.)

Edition:

1st ed.

Place of Publication:

Paris : OECD Publishing, [2016]

Summary:

- Basic statistics of Greece, 2014 (Numbers in parentheses refer to the OECD average) - Acronyms - Executive summary - Assessment and recommendations - Progress in structural reform - Structural reforms to boost inclusive growth - How to boost export performance.

Contents:

Table of contents; Basic statistics of Greece, 2014; Acronyms; Executive summary; The economy is gradually recovering from a deep recession but high social costs persist; Real GDP and unemployment rate; Significant structural reforms have been legislated, but their mix and implementation were uneven; Product market regulation index; Stronger exports and investment are a key to sustained recovery; Export performance and relative unit labour costs; Main findings and key recommendations; Assessment and recommendations; Signs of a turnaround are accumulating

Figure 1. Unsustainable macroeconomic imbalances built up during the 2000sFigure 2. Well-being in Greece is significantly below the OECD average in several dimensions; Figure 3. Life satisfaction has declined significantly since the beginning of the crisis; Figure 4. The social cost of the crisis has been very high; Figure 5. Youth unemployment remains very high; The recovery has faced some setbacks, but extreme downside risks have receded; Figure 6. Confidence remains weak although tail risks have receded; Table 1. Macroeconomic projections; Box 1. Possible shocks to the Greek economy

Strong exports and investment are the keys to sustained recoveryFigure 7. Trade openness is low compared to OECD countries; Figure 8. Participation in global value chains is weak; Figure 9. Export performance has been weak, but export growth excluding shipping has been in line with euro area exports since 2009; Figure 10. Foreign direct investment in Greece is low; Improving employment opportunities; Figure 11. Labour market regulations have eased; Figure 12. The minimum wage in Greece is relatively low; Figure 13. Female labour market participation in Greece continues to be low

Strengthening fiscal policy is crucial for a sustained and inclusive recoveryFiscal consolidation has been very large, but is set to slow; Figure 14. Fiscal consolidation has been large; Figure 15. The pace of fiscal consolidation is projected to slow; Strengthening the social safety net; Figure 16. The composition of social expenditures does not match the changing social challenges; Figure 17. Housing problems among the vulnerable population are widespread; Recent pension reforms and additional changes under discussion help sustainability

Figure 18. Pension reforms have improved the system's long-term sustainabilityFigure 19. Public expenditure on pensions remains very high; Fighting tax evasion to increase fairness and raise revenue; Figure 20. Strengthening the tax administration would increase compliance; Stronger fiscal institutions would improve fiscal policy outcomes; Dealing with high public debt; Figure 21. Debt will remain high and gross financing needs will increase significantly in the long run; Getting credit growth started again; Figure 22. Loans to the private sector grew sharply before the crisis

Figure 23. Non-performing loans increased significantly during the crisis

Notes:

Description based upon print version of record.

Includes bibliographical references at the end of each chapters.

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-25101-4

OCLC:

1225555035