oikonomika xronika teyxos 3.pdf

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1. Adler A. H., Economic evaluation of transport projects, Trans-

port Investment and Economic Development, In Gary Fromm(Eds.), The Brookings Institution, 1965.

2. Banister D. and Berechman Y., The Economic Development Effectsof Transport Investments, Paper presentation at the TRANS-TALKWorkshop, Brussels, November, 2000.

3. Heymann, Jr H., The objectives of transportation, TransportInvestment and Economic Development, In Gary Fromm (Eds),Washington: The Brookings Institution, 1965.

4. Lefeber L., Economic Development and Regional Growth,Transport Investment and Economic Development, Edited byGary Fromm, Washington: The Brookings Institution, 1965.

5. Leong D., Lichtman L. and Russell R., Transportation Investment,Economic Development, and Land Use Goals in Wisconsin,(Tech-nical Report SPR-0092-45-97), Madison: Wisconsin Departmentof Transportation-Bureau of Planning, Economic Planning andDevelopment Section, Madison, 2002.

6. Leontief W., Input-Output Economics, 2nd Edition, New York:Oxford University Press, 1986.

7. Leuning T., Cart or Horse: Transport and economic growth, Inter-national Transport Forum, Discussion Paper No. 2011-4, Brussels,OECD/ITF, April, 2011.

8. Litman T., Evaluating Transportation Economic DevelopmentImpacts: Understanding How Transport Policy and Planning Deci-sions Affect Employment, Incomes, Productivity, Competitiveness,Property Values and Tax Revenues, Victoria Transport Policy Insti-tute, Victoria, Canada, 2010.

9. Mourmouris C. J., Transportation as a Driver of Growth in Greece:Policy-Making Issues, In P. Sklias and N. Tzifakis (Eds.), GreecesHorizons, The Konstantinos Karamanlis Institute for Democracy

Series on European and International Affairs, Springer, 2013.10. . ., , : , , , 2005.

11. PROPAGE, Modle dtaill de projections moyen terme, In:Economie et statistique, N121, Avril-Mai 1980.

12. Quinet E., Infrastructures de transport et croissance, Paris, Eco-nomica, 1992.

13. Rietveld P. and Nijkamp P., Transport and Regional Develop-ment, European Transport Economics, In J. Polak and A. Heertje(Eds.), CEMT-ECMT, Blackwell, 1993.

14. Tsekeris T., Travel consumption and market competition in Greece,Centre of Planning and Economic Research (KEPE), Studies No70, Athens, Greece, 2010.

15. . ., : ,

,: (), No 63, , , 2010.16. Wilson F., Stevens A. and Holyoke T., Impact of transportation on

regional development, Transportation Research Record, 1982.


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University Press.


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(OLS) :4

=f(Y, TE, I, ER, OP, W, LPRO, EMU, CM)(+) (+) (+) (-) (-) (+) ( )

: = -.Y = ... - .

TE = . - .I = .ER = .OP = ( )W = - .LPRO = .EMU = () 2002.CM = 1992.

-, , , -

.

- 5.

-

. - (, ),

. ., - , -

, , -

, , .

, - (Pantelidis andNikolopoulos, 2008),

,

. E - (


47/68[47]

- ).

, .. -,

.

4.

, , , - , - ( ) . - ,

. , . - - , - , .

, ,

... . -

-

. ,

- / . ,

, .

1. -

. Buckley and Casson (1981) Scaperlanda and Mauer (1969, 1972) Culem (1988).

2. - Gilman (1981).

3. - Clegg (1995).

4.

Pantelidis P., Kyrkilis D. and Nikolopoulos E., (2012).5. Pantelidis P., Kyrkilis D. and Nikolopoulos E., (2012).

- Apergis, N. and Katrakylidis, C. (1998), Does Inflation Uncertainty

Matter in Foreign Direct Investment Decisions? An EmpiricalInvestigation for Greece, Spain, and Portugal, Rivista Internazionaledi Scienze Economiche e Commerciali, Vol. 45, No. 4, pp. 729-744

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- Aristotelous, K., Fountas S., What is the impact of currency unionson FDI flows? Evidence from Eurozone countries, Discussion PaperNo 10/2009, Department of Economics, University of Macedonia

- Brouwer, J., R. Paap, and J-M. Viaene, (2008), The trade and FDIeffects of EMU enlargement, Journal of International Money andFinance, 27, 188-208.

- Buckley, P.J. and Casson M.C., (1981), The Optimal Timing ofForeign Direct Investment, Economic Journal, 91, pp. 75-87.

- Clegg, J., (1995), The Determinants of United States Foreign DirectInvestment in the European Community: A Critical Reappraisal. In R.Schiattarella (ed.), New Challenges for European and International

Business. Rome: European International Business Academy (EIBA),21st Annual EIBA Conference Proceedings, Vol. 1, pp. 465-484.- Culem, C.J., (1988), The Locational Determinants of Direct

Investments among Industrialised Countries, EuropeanEconomic Review, 32(4), pp. 885 - 904.

- Dunning J.H., (1977), Trade location of economic activity andthe multinational enterprise: a search for an eclectic approach, inB.Ohlin, P.O. Hesselborn and P.M. Wijkman (eds), The InternationalAllocation of Economic Activity, Macmillan, London.

- Dunning J.H., (1988), Explaining International Production, HarperCollins, London.

- Dunning J.H., (1993), Multinational enterprises and the globaleconomy, Wokingham: Addison-Wesley.

- Filippaios, F. and Kottaridi, C. (2004), Investment patterns andthe competitiveness of Greek regions, Review of Urban and

Regional Development Studies, Vol. 16, No. 2, pp. 93-112- Gilman, M. G., (1981), The Financing of Foreign Direct Investment:

A Study of the Determinants of Capital Flows in MultinationalEnterprises. London: Frances Pinter.

- Glick, R., and A. Rose, (2002), Does a currency union affect trade? Thetime-series evidence, European Economic Review, 46, 1125-1151

- Hymer S.H., (1960), The international operations of National firms:A study of direct foreign investment, MIT press, Cambridge, MA

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- Micco, A., Stein, E. and Ordoez, G., (2003), The Currency UnionEffect on Trade: Early Evidence from the European Union,Economic Policy, 18(37), 315-356

- Pantelidis P. and Nikolopoulos E, (2008), FDI Attractiveness in Greece,International Advances in Economic Research, Vol. 14: 90-100- Pantelidis P., Kyrkilis D. and Nikolopoulos E., (2012), Inward

FDI flows to Greece: Evidence and determinants, Journal ofInternational Business & Finance, Vol. 4, No. 2, 185-195.

- Papazoglou, C.E., (2001), Regional economic integration and FDIinflows: experience, Bank of Greece, Economic Bulletin, No. 17

- Scaperlanda, A. E., and Mauer, L. J., (1969), The Determinants ofUS Direct Foreign Investment in the EEC, American EconomicReview, 59(3), pp. 558-568.

- Scaperlanda, A. E., and Mauer, L. J.,(1972), The Determinantsof US Direct Foreign Investment in the EEC: Reply, AmericanEconomic Review, 62(4), pp. 700 -704.

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- Yoshitomi M. and Graham, E., (1996), Foreign direct investmentin Japan, Edward Elgar Publishing Limited, Cheltenham.


48/68[48]

,1980-2010

, -

, .

,

(

) & -

(

-).

-

,

O

, & -

,

&

,

, , -, , , -, . , ,

, . (Jackson-Sorensen, 2006),

, , , .

, - (World Bank). ,, (Ricardo), , . Porter (1990), , , ( ), . , - .

, International Institute for Management andDevelopment (IMD) World Economic Forum (WEF), -

, ( , , , ..) (WEF) , , - , , , (IMD). , , , . , IMD , , - WEF, (12) , 1.


49/68[49]

1.

The Global Competitiveness Index framework

Source: World Economic Forum, The Global Competiveness Report 2012-2013

-, , -. , , - . -, , , . , , -, - . ,

, .

, , , , 1980 2010, , - , - , -

(), () -

, .

1.

The Global Competiveness Index (GCI) 2012-2013

Rankings

(- ,

144 )

/

Rank/144 Score (1-7) GCI 2011-2012Rank

3 5,55 4

5 5,50 7

6 5,48 6

16 5,22 19

17 5,21 15 21 5,11 18

22 5,09 23

27 4,91 29

34 4,64 33

36 4,60 36

42 4,46 43

47 4,41 51

49 4,40 45

56 4,34 57

58 4,32 47

71 4,14 69

96 3,86 90

Source: World Economic Forum, The GlobalCompetiveness Report 2012-2013

-

Key for Factor-drivenEconomies

Key for Efficiency-drivenEconomies

Key for Innovation-drivenEconomies

11 12

1 4

&

5 10

&

-

-


50/68[50]

1.

(-27)

Source: World Economic Forum,

() - (19802010)

-, , (30) ,

. , -, ,

-, -,

. - -, , , - -

, , -

. , , , , - (Dunning, 1981, 1992).

-, - (...) 1970, -

-, , -

- . -, ,

- , , , .

.. 1981, -, 1981-1985, , . ,

() (1986-1992) -

(1989), , ,

- -, , , (, 2010). - 1986-1999, -

, - , .


51/68[51]

, - , , , -. , , - (Financialization), , -

. , , , (Lucarelli, 2012) .

, , , ( 1989), - , , . , , , , 3 ..

(2001), , 2004. -

, , , , .

2.

(. $ )

. 1983-1994

Region-Country \ Year

1983-1988*

1989 1990 1991 1992 1993 1994

EU 27.425 84.191 104.408 79.357 83.794 80.935 71.58

Greece 572 752 1.005 1.135 1.144 977 981

: * Source: UNCTAD, World Investment Report

. 1995-2000


1995 1996 1997 1998 1999 2000

EU 113.40 109.642 127.626 261.141 467.154 617.321

Greece 1.053 1.058 984 850 560 1.115

Source: UNCTAD, World Investment Report

. 2001-2004


2001 2002 2003 2004

EU 363.051 397.144 326.611 196.098

Greece 1.589 50 661 1.351

Source: UNCTAD, World Investment Report


52/68[52]

5.

Source: O.E.C.D

1981 32,1 50,1 17,6

1982 - 100 -

1983 - 79,2 20,7

1984 37,1 59,3 3,1

1985 - 93,5 6,5

1986 1,1 59,8 39,1

1987 0,3 68,5 31,1

1988 2,2 43,9 54,8

1989 3,7 53 43,3

1990 7,7 30,5 61,7

1991 0,8 50,1 48,9

1992 0,1 48 59,9

1993-1996 - - -

1997 - 64 36

1998 - 45 55

1999 - 64 34

- 15((%) )

1988-1993 1994-1996 1997-1999 1999

1,0 2,8 1,5 0,9

- 11,0 11,1 7,4 5,2

17,8 20,4 13,5 12,8

3,9 8,6 8,7 8,8

27,1 17,9 26,2 26,9 5,2 3,5 1,7 1,6

10,3 11,5 13,2 11,1

1,5 3,3 2,5 2,4

1,3 1,0 0,4 0,3

1,0 1,6 4,3 6,0

13,8 7,2 4,0 3,1

2,4 1,1 0,8 0,2

3,3 8,6 13,3 19,7

0,6 1,3 2,5 1,0

1984 4,85 1995 1,641985 0,16 1996 1,81

1986 1,19 1997 5,08

1987 -0,43 1998 -1,20

1988 2,98 1999 2,66

1989 2,06 2000 6,00

1990 -1,29 2001 4,64

1991 5,51 2002 3,86

1992 -2,12 2003 2,92

1993 -3,29 2004 4,20

1994 1,64 2,04

3.

(%)

Source: , -

4.

Source: UNCTAD ( )


53/68[53]

, , -

, - . , - , ( ),

... .. , (, 2001) - -

. ,

, - , ( - ), -

, , - , , - ,

, - , . , -

() , , -,

- , - , ,

- . , , (- ), , -

, . , , , , -, , , , -, - (, 2007).

2

Source: , ICAP

22%

11%

15%

22%

7%

1%

1%

/1%

-1%

1%

19%


54/68[54]

6.

( 183 )

Source: World Bank

- (1980-2010) & - ()

, , - () ().

, , -, (Burda-Wyplosz,2005).

(30) , , -

. ()

() , . -, -, , , -, (Financialization), - , - ,

, ( ) -, . -, ,

, , . -

, .

-

, - . , , -(, 2010). , -

, , - . , (- , - - ). , 1998 ,

( ). , - , - . : ) , -

,

) ) -

(- , ), , , - .

, - -

, - . , ( -, ) - ( ), - ,

(, 2002). -, , -, .

135

41

77

150

78

155

83

84

90

57

95


55/68[55]

3.

(1)*

Source: Eurostat

4.

(2)*

Source: Eurostat

5.

(3)*

Source: Eurostat

: * . .... :

30,1

31,1

32,0

33,2

35,135,6

35,8

37,4

38,7

39,640,4

39,739,4

37,7

36,4

37,8

36,7

38,238,4

36,6

37,5

39,2

38,5

36,6

38,1

40,2

41,041,7

40,6

39,738,9

39,0

40,639,9

40,0

39,539,9

40,140,2

42,3

44,8

48,6

46,246,4

30,0

40,0

50,0

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

%

%

8,1

6,7

5,9

3,9

3,13,7

4,5 4,8

5,7

7,5

5,5 5,7

6,5

9,8

15,8

10,6

9,8

5,0

4,3

2,82,3

1,5

0,1

2,0

2,7 3,1 2,9

2,5

1,4

0,7

2,1

6,4 6,2

4,1

0,0

1,0

2,0

3,0

4,0

5,0

6,0

7,08,0

9,0

10,0

11,0

12,0

13,0

14,0

15,0

16,0

17,0

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

%

50,2

56,4

61,664,8

74,0

97,2101,2

107,3

162,8

73,3 71,769,2

48,3

71,7

79,1

99,297,9

100,397,5

95,494,9

104,4 104,7 102,6

98,3

99,8107,4

113,0

129,3

144,9

72,1 73,8

72,969,2

68,2

68,0 69,6

70,2 68,5 66,3

70,1

79,885,6

88,0

40,0

60,0

80,0

100,0

120,0

140,0

160,0

180,0

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011


56/68[56]

7.

( (%) )

% % %

1980 -4,50 1991 -2,80 2002 -7,50

1981 -5,40 1992 -3,60 2003 -7,30

1982 -4,10 1993 -2,20 2004 -6,40

1983 -4,40 1994 -1,40 2005 -8,00

1984 -5,10 1995 -3,90 2006 -11,24

1985 -9,20 1996 -5,20 2007 -14,361986 -4,40 1997 -4,40 2008 -14,69

1987 -3,10 1998 -3,10 2009 -10,99

1988 -2,40 1999 -6,20 2010 -10,45

1989 -5,00 2000 -8,70

1990 -5,60 2001 -8,10 -6,25

Source: OECD, IMF

8.

: .. 1980-1989: 19,49 1990-1999: 11,73 2000-2009: 3,15

: .. 1980-1989: 9,06 1990-1999: 9,16 2000-2009: 2,46

Source: IMF

1990, , , , ,

(, 2010). , , . , , -

((%) )

1980 24,7 12,6 1990 26,5 27,6 2000 3,2 3,1

1981 24,4 12,2 1991 19,5 12,9 2001 3,4 3,0

1982 21,4 13,9 1992 15,9 9,8 2002 3,6 2,5

1983 19,8 8,7 1993 14,4 9,6 2003 3,5 2,2

1984 18,4 9,4 1994 10,9 7,0 2004 2,9 2,3

1985 19,5 6,1 1995 9,0 5,0 2005 3,5 2,3

1986 23,1 4,0 1996 8,2 4,7 2006 3,2 2,3

1987 16,4 4,0 1997 5,5 9,9 2007 2,9 2,4

1988 13,5 5,8 1998 4,8 2,9 2008 4,1 3,6

1989 13,7 13,9 1999 2,6 2,2 2009 1,2 0,9


57/68[57]

. , ,

, . - , , , ,

. - , - , , - .

, , , ,

. , ,

. , - . ,

, /- . - - -

. , -

(, 2010).

, -, - , -

. - ,

, (spreads) . - - -, -

. (, 2010)

, , - , -

- ,

. , - ., -

- , , -

, , ,

. - , , ) -

( - ) ) - . .

, ( )

.*

1

win

i i

i

E P

P=

=

P , n - , Pi* , Ei wi .


58/68[58]

Source: European Commission

9.

Source: () European Economy,

10.

( (%) )

: * Source:IMF, World Economic Outlook Database, October 2012

6.

( (%) )

(, 22 )

1980 96,30 1991 100,00 2002 110,90

1981 104,40 1992 99,90 2003 112,60

1982 114,40 1993 101,40 2004 114,00

1983 110,70 1994 104,50 2005 113,50

1984 108,90 1995 112,00 2006 115,90

1985 107,70 1996 114,70 2007 119,70

1986 92,50 1997 120,80 2008 125,70

1987 91,80 1998 119,80

1988 97,40 1999 119,00

1989 104,20 2000 111,20

1990 108,20 2001 108,50 109,00

- - -

- - - - - - - -

- - - - - - - -

36,7037,40

39,00

40,5041,30

43,00

40,9040,30

39,00

38,10 38,60

39,2040,00 39,90

37,30

45,2045,90 45,90 45,70 46,10 45,70

45,10

44,40 44,40 44,2044,70 45,20

45,20 45,1044,50

30

32

34

36

38

40

42

44

46

48

50

52

54

56

58

60

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

(%)

-15

/1980-

1989*

1990-

1999*

2000-

2005*2006 2007 2008 2009 2010

0,78 1,91 4,12 5,54 3,00 -0,16 -3,25 -3,52

27,29 34,60 40,02 39,18 40,81 40,69 38,25 39,70

35,43 43,07 45,32 45,21 47,61 50,60 53,81 50,20

41,61 92,60 101,05 107,33 107,45 112,62 128,95 144,55

-3,85 -2,98 -6,91 -11,37 -14,64 -14,94 -11,15 -10,11

- -5,54 -5,28 -5,70 -6,50 -9,80 -15,80 -10,60

6,41 9,31 10,42 8,89 8,29 7,68 9,38 12,45


59/68


60/68[60]

7.

( (%) )

Source:

12.

2000 -1,5 0,2 2006 -2,0 0,3

2001 1,0 0,2 2007 1,6 0,3

2002 8,6 0,8 2008 1,7 0,6

2003 2,8 0,4 2009 3,2 2,1

2004 1,2 0,2 2010 -7,4 -0,1

2005 1,8 -0,1 2011 -5,5 -0,2

: . 2000-2009: 1,53: . 2000-2009: 0,42

Source: Eurostat

-20,0 -16,0 -12,0 -8,0 -4,0 0,0 4,0

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

0,5

0,8

-0,9

-1,2

-2,8

-2,6

-2,2

-1,6

-2,0

-9,1

-4,5

-4,8

-5,7

-7,6

-5,5

-5,7

-6,5

-9,8

-15,8

-10,6

-5,0

-5,6

-4,8

-6,4

-2,7

-3,1

-4,3

-8,2

-13,8

-1,5

/


61/68[61]

, -

(30) , , - (, , ), , , . -

- , , -

, -

. , -

-, - , marketfriendly strategy1

, - , ,

. (, 2005) ,

, , - , .. -

-, .

Burda M.-Wyplosz C., 2008, ,

: Gutenberg

De Grauwe P., 2008, -

, :

Jackson R-Sorensen G., 2006, & -

, : Gutenberg

., 2011

,

& ,

. .- ., :

1. 1991, .

.- ., 2012, ,

: Rosili

., 2010, ,:

., 2007, & -

, :

.- .- ., 2010,

&

: & ,

. - .- ., : -

, 2006, -

,

:

., 2002, -

,:

., 2001, -

& 17, , :

., 2005, : -

,

& -

,

. . : -

., 2011, & &

,, Eurobank Research, & ,

VI, 2, 2011

., 1997, , -

-- & &

, . ., : ...

Dunning J., 1981. International production and the

multinational enterprise, Boston: Allen & Unwin

Dunning J., 1992, Multinational enterprises and the Global

economy,Boston: Addison-WesleyLucarelli B., 2012, Financialization & Global Imbalances:

Prelude to crisis, Review of Radical Political Economy, London:

Sage, Feb. 3, 2012

Porter M, 1990,. The Competitive Advantage of nations,

Y.: Free press


62/68


63/68[63]

- , . ,

-. 25 . - 124% 2020 (110% 2022 .255 . ) - , 2022 280 . , , - (

), 2012, . -, , 25 .,

, .., , , (. ) - .

,

-

(. -

)

-

,

.

11 . 2014-2015, , - -

( ,

)

., -

-. , , - ,

. ( ), -

( ) -

. - , ( ) . - -. 1990-2000 2000-2010, -

-. .

( 2014 . 2008 - 28%). - - /.

-

.

-. -. - -, -

() (50

. ) - .

-

. - .

.

, , ( ) , . -

.


64/68[64]

- , , . . (EFSF,ESM)

, . -

. -, 60 . -. - .

, (quantitative easing) - FED , , (. - ),

- . -

-,

2% ( 1,3%).

(.. , ,) - .

. - (.. ) -

, - . . - (monetization) -

. ( )

.

.

: 1% 2012,

-0,8% 2013, -0,4% 2014.

.

, , - , Grexit. - :

) , -

,

) -

( , - , -5,3% 2012, -2,8% 2013 -1,8% 2014,( ) - .

,

) ( - -

) - . - ,

- ( 28% - 50%). ,

,

)

. (-) - ,

) .

- .


65/68[65]

: 2013

()

: 2013()

:2013()

.: 95,0 (92,6) (: . ): 92,5 (91,3) (: . )

: 91,7 (93,5) (: ): 86,2 (88,8) (: ): -70,9 (-66,5) (: )


66/68[66]

(: 2009=100,0)()

(% ). - 2013 : 30.788 . +11,4% (. )

. - 2013: 30.597 . - 21% (. )

. - 2013: 2.120 . - 7,14% (. )

2013 : 305,3 . (. )


67/68[67]

()

..

( )

| -2013, .

1

12-14, 10563,|www.oe-

e.gr

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:

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-

()

| -2013,. 2

12-14,10563, | www.oe-e.gr

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| -2013, . 3

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68/68

15 2013

:

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