Adjustment mechanisms of Greek regions in export activity during the economic crisis of 2008–2012

Abstract

Under the deep and protracted recession that plagues the Greek regions, exports have shown some positive signs of resilience. This paper explores through a spatial econometric analysis of SUR models, first, the changes that occurred in exports by the (NUTS 3 level) regions for the period 2008–2012 to offer resistance against the crisis and to stimulate growth, which entail expansion of export demand, improvement in the quality of agricultural products, deeper specialization in broad low-technology sectors and simultaneous increases in the variety inside these sectors and second, the ability of exports to transfer their growth gains to the broader economy. © 2018 The Author(s). Papers in Regional Science © 2018 RSAI