Relationship between Natural Resources and Regional Development in Greece: an investigation

Abstract

The role of natural resources in the regional development and the rise of interregional inequalities has fostered, despite many objections, a number of theories about regional development. Over time natural resources have contributed to a different extent to regional development whereas new factors have determined the level of prosperity and development of the various regions. The aim of this paper is to estimate the level of correlation between natural and human resources and the level of prosperity. Based on a statistical analysis of all the Hellenic prefectures, the relation between resources and development is systematically estimated. The results obtained are evaluated taking into account the components which explain the structural transformation of the Greek economy.