OECD Reviews of Regulatory Reform: Regulatory Reform in Greece 2001 [electronic resource] /
Organisation for Economic Co-operation and Development.
Organisation for Economic Co-operation and DevelopmentContent Provider
Organisation for Economic Co operation and DevelopmentContent Provider
Paris : OECD Publishing,
2001.
OECD's review of Greece's regulatory reform.  It finds that under the spur of intensifying European competition and seizing the opportunity of a stable political and macroeconomic environment, Greece has launched itself on the road to market liberalisation. This road, trod later in Greece than in most OECD countries, is necessary to fuel the sustainable economic growth that will create jobs and drive convergence with other European countries. Sustained and consistent reforms over the next few years will do much to bring Greek regulatory practices up to OECD good practices and build credibility for Greek reforms. Greece still suffers from the high costs of poor regulation in some areas and too little pro-market regulation in others, such as the liberalising utility sectors. Long traditions of political intervention and protection of economic actors will be difficult to reverse. The confluence of positive elements - growing consensus for reform, macroeconomic stability, and healthy economic growth - suggest that the next few years will be decisive years of reform in Greece.  This Review presents an integrated assessment of regulatory reform in framework areas such as the quality of the public sector, competition policy and enforcement, and market openness. It also contains chapters on sectors such as telecommunications, electricity, domestic ferries and trucking, and an assessment of the macroeconomic context for reform. The policy recommendations present a balanced plan of action for both short and longer term based on best international regulatory practices.
Description based upon print version of record.
""Foreword""; ""Acknowledgements""; ""Table of Contents""; ""Part I""; ""Executive summary""; ""Chapter 1  Regulatory Reform in Greece""; ""Introduction""; ""Regulatory reform emerged in the wake of macroeconomic reforms, and by the late 1990s many significant reforms were underway""; ""Yet Greece lags other OECD countries in Regulatory reforms, and still suffers the high costs of poor regulation""; ""Box 1.1.  What is regulation and regulatory reform?""; ""Long traditions of political intervention and protection of economic actors are difficukt to reverse, but a pro-reform...""
""The Macroeconomic context for sectoral regulatory reform""""Macroeconomic reforms and EMU membership establish a basis for continued strong growth, and provide a good opportunity...  ""; ""Greece's state-led development strategy based on import substitution and credit allocation produced strong growth until 1974.""; ""...but left a legacy of corporatism and extensive state collaboration with powerful private firms, and fostered the growth...""; ""Economic performance deteriorated sharply after 1974, in the midst of historic change and international economic turbulence""
""State interventions into an increasingly troubled private sector, combined with wage awards that exceeded productivity...""""A vicious cycle had emerged as weaker enterprises required more state support, and as a faltering economy was used to justify""; ""Greece paid a large price for the poor economic and budgetary policies of the 1980s, and in many respects ended the decade...""; ""Genuine reforms were launched in the 1990s qith important changes to financial and labour market regulations, some product...""
""The corner was turned in the mid-1990s, when a package of EU-related reforms boosted growth and investment...""""Today, the Greek economy is on track to continued solid growth. A high priorority should be placed on supply-side reforms... ""; ""Box 1.2.  External factors affecting Greek economic policy in the 1990s""; ""Economic impacts of sectoral regulatory reform""; ""Box 1.3.  Key structural problems in the Greek economy""; ""Public enterprises have created costly economy-wide distorsions. Continuation of the privatisation programme is a high...""
""In the telecommunications sector, services and prices have improved after reform, but energy reforms lag""""Box 1.4.  Recent and envisioned privatisations of state owned enterprises in Greece""; ""Market liberalisation has proceeded the furthest in the financial sector""; ""Simplification of the tax system has improved transparency and tax revenues, but major reform is necessary to establish...""; ""Reducing red tape and regulatory uncertainties for firms should boost potential growth...""; ""Table 1.1.  Sectoral regulatory reform in Greece by early 2001""
""Table 1.2.  Potential impacts of sectoral regulatory reform in Greece""
Includes bibliographical references.
OECD's review of Greece's regulatory reform.  It finds that under the spur of intensifying European competition and seizing the opportunity of a stable political and macroeconomic environment, Greece has launched itself on the road to market liberalisation. This road, trod later in Greece than in most OECD countries, is necessary to fuel the sustainable economic growth that will create jobs and drive convergence with other European countries. Sustained and consistent reforms over the next few years will do much to bring Greek regulatory practices up to OECD good practices and build credibility for Greek reforms. Greece still suffers from the high costs of poor regulation in some areas and too little pro-market regulation in others, such as the liberalising utility sectors. Long traditions of political intervention and protection of economic actors will be difficult to reverse. The confluence of positive elements - growing consensus for reform, macroeconomic stability, and healthy economic growth - suggest that the next few years will be decisive years of reform in Greece.  This Review presents an integrated assessment of regulatory reform in framework areas such as the quality of the public sector, competition policy and enforcement, and market openness. It also contains chapters on sectors such as telecommunications, electricity, domestic ferries and trucking, and an assessment of the macroeconomic context for reform. The policy recommendations present a balanced plan of action for both short and longer term based on best international regulatory practices.
Deregulation
Industrial policy
Trade regulation
OECD Reviews of Regulatory Reform