Hidden economy and hyper-inflation in occupied Greece 1941-1944
Part of : Αρχείον οικονομικής ιστορίας ; Vol.XX, No.2, 2008, pages 29-45
Issue:
Pages:
29-45
Author:
Abstract:
The Greek economy during the occupation (1941-1944) is characterized by the aggravation of hyperinflation and hidden economy. The collapse of the tax-collecting mechanism caused the full abandonment of tax controls leading a large part of the economic activity to go underground. The collapse of the public finances led to the imposition of the ≪inflation tax≫, with the uncontrolled monetary expansion leading to one of the greatest (and in fact the only one during occupation) hyperinflations recorded in the first half of the 20th century. The purpose of this paper is to place the Greek experience in a theoretical and empirical economic framework.
Subject:
Subject (LC):
Keywords:
Hidden Economy, Hyperinflation, Greek Economy
Notes:
JEL classification: N1, N14
