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The Twin Deficits, Monetary Instability and Debt Crises in the History of Modern Greece
George Alogoskoufis Working Paper no. 7/2023, Department of Economics, Athens University of Economics and Business ________________________________________________________________ This paper reviews, analyses and interprets the determinants and the implications of the twin, fiscal and current account, deficits in the history of modern Greece. The analysis focuses on the determinants and the dynamic interactions among the twin deficits,…
The State and the Economy of Modern Greece: Key Drivers from 1821 to the Present
George Alogoskoufis Working Paper no. 4/2023, Department of Economics, Athens University of Economics and Business also GreeSE Paper no. 184, Hellenic Observatory, London School of Economics _________________________________________________________________________________ This paper reviews, analyses and interprets the history of the state and the economy of modern Greece, from the eve of the war for independence in 1821 to…
The Twin Deficits and Debt Crises in the History of the Greek Economy
Historically, the two recurring major macroeconomic imbalances of the Greek economy are related to public finances and the balance of payments. Both the fiscal balance and the current account balance have been persistently negative, and have constituted the large twin deficits of the Greek economy. The twin deficits have resulted in growth pauses, long periods…
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