Article

 

THE FOREIGN-TRADE LEAKAGES IN THE GREEK ECONOMY: EVIDENCE FROM THE SUPPLY AND USE TABLE FOR THE YEAR 2010 (p.135-155)

by

Theodore MARIOLIS , PANTEION UNIVERSITY OF SOCIAL AND POLITICAL SCIENCES

Keywords : Foreign-trade leakages, Greek economy, Industrial policy, Key-commodities, Management of effective demand

JEL classification : C67, D57, E61, F14, O25

Abstract

Using input-output table data and constructing a system of relevant indices, this paper sheds some new light on the foreign-trade “leakages” in the Greek economy for the “pre-adjustment” year of 2010. The findings suggest that, due to profound intersectoral imbalances, (i) a well-targeted effective demand management policy could be mainly based on the service and primary production sectors; while (ii) industrial policy would be necessary and could primarily focus on nine industrial commodities, which are identified as the main leakages in the Greek economy.