Factors influencing the declining contribution of the agricultural sector to the overall growth of the Greek economy 1950-1990
Part of : Σπουδαί : journal of economics and business ; Vol.44, No.3-4, 1994, pages 131-150
Issue:
Pages:
131-150
Author:
Abstract:
The issue of (sectoral) contribution to growth is usually handled in the literature with some type of growth-accounting decomposition. The "state of the art" was established by Abramovitz (1956) and Denison (1967). Since then the literature has diversified considerably. The present paper uses this conventional growth accounting framework to explain the declining importance of the agricultural sector in the Greek economy. Agricultural sector contributions to overall growth are investigated using time series data for the period 1950-1990. The results reveal that capital accumulation, export contribution and import penetration along with the effects of "appropriationism" and "substitionism" are significant variables in explaining the declining importance of agricultural activity. In addition, the Common Agricultural Policy (CAP) and since 1986 the pressures for international liberalization of the agricultural product markets, have been leading to the further contraction of the agricultural activities.
Subject (LC):
Notes:
Περιέχει παράρτημα πινάκων, υποσημειώσεις και βιβλιογραφία
