Abstract
Over the last ten years the ratio of Greek public debt to GDP has increased by more than three times. At the end of 1989 it will be very close to unity, which is one of the highest in Europe and among the OECD countries. At the end of the 1970’s it was among the lowest in Europe, which implies a record rate of increase over the period in question. In addition, this ratio seems now to have been stabilized in most OECD countries while it keeps on rising rapidly in Greece.
The present paper is part of a project on Public Sector Deficits in Greece, run by the author and Dr. V. Manessiotis (Research Department, Bank of Greece). The author wishes to thank Dr. Manessiotis as well as Mrs. D. Argirou and Mr. P. Valadimas for their valuable help. Views expressed in this paper are strictly personal and do not necessarily reflect the Bank of Greece’s views.
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© 1993 SIPI Srl. Rivista di Politica Economica
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Stournaras, Y.A. (1993). Public Sector Debt and Deficits in Greece: The Experience of the 1980s and Future Prospects. In: Baldassarri, M., Mundell, R., McCallum, J. (eds) Debt, Deficit and Economic Performance. Central Issues in Contemporary Economic Theory and Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-22919-2_12
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DOI: https://doi.org/10.1007/978-1-349-22919-2_12
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