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1 – 10 of 13The new leader of the left-wing Syriza party, Stefanos Kasselakis, has until then to establish himself as Greece’s leading oppositionist. He has not been helped by the…
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DOI: 10.1108/OXAN-DB284413
ISSN: 2633-304X
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The Rajapaksa regime over the 2005–2022 period promoted a national-popular project based on a militarised Sinhala-Buddhist nationalism promoting a market-driven rentier economy…
Abstract
The Rajapaksa regime over the 2005–2022 period promoted a national-popular project based on a militarised Sinhala-Buddhist nationalism promoting a market-driven rentier economy. It illustrated a form of patrimonial capitalism undermining public accountability and the efficacy of the state bureaucracy. This popular-national project was dependent on strengthening ties with China while distancing relations with India and the Global North (USA and the EU). The ways in which the external relations were coordinated reinforced discrimination against Tamil and Muslim communities, while disregarding their demands for justice and reparations. The increasing integration of the economy with financial markets, driven by the Central Bank, amplified the commercialisation of the state, restraining public revenues and state oversight. Meanwhile, the militarisation of the state involved the commercialisation of the military, opaque military budgets and violent repression of protests. The Rajapaksa regime, which enabled a minority-privileged (leisure) class to culturally flourish in regulated safe spaces, also instigated multiple protests from below demanding democracy as well as justice.
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Gikas Hardouvelis, Georgios Karalas, Dimitrios Karanastasis and Panagiotis Samartzis
The authors construct an index of economic policy uncertainty (EPU) for Greece using textual analysis and analyze its role in the 10-year Greek economic crisis.
Abstract
Purpose
The authors construct an index of economic policy uncertainty (EPU) for Greece using textual analysis and analyze its role in the 10-year Greek economic crisis.
Design/methodology/approach
To identify the causal relationship between various measures of economic activity and EPU in Greece, the authors use a sophisticated “shock-based” structural vector autoregressive identification scheme. Additionally, the authors use two additional models to ensure the robustness of the results.
Findings
EPU is negatively associated with domestic economic activity and economic sentiment, and positively with bond credit spreads. EPU is also estimated to have prolonged the crisis even in periods when macroeconomic imbalances were cured. The results are robust across various model specifications and different proxies of economic activity.
Originality/value
Brunnermeier (2017) observed that uncertainty may be central to understanding the evolution of the Greek crisis. Yet little attention has been paid to policy uncertainty in the existing long and growing literature on the Greek crisis. The authors attempt to fill this gap.
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GREECE: Local polls will not challenge Greek cabinet
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DOI: 10.1108/OXAN-ES282693
ISSN: 2633-304X
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From a small base, more electricity is being generated from renewable energy sources (RES): 551 megawatts of installed capacity were licensed in the past two years. However…
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DOI: 10.1108/OXAN-DB285163
ISSN: 2633-304X
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Geographic
Topical