Economics, Econometrics and Finance
4 years ago

Greek EU Accession Shifts Economic Dynamics: Budget Deficit Now Drives Trade Deficit.

SSRN Electronic Journal
Has the Accession of Greece in the EU Influenced the Dynamics of the Country’s 'Twin Deficits'? An Empirical Investigation
Constantinos Katrakilidis, Emmanouil Trachanas

Paper Summary

The article investigates how Greece joining the EU in 1981 affected its budget and trade deficits from 1960 to 2007. Before joining, the budget deficit influenced the trade deficit. After joining, the relationship flipped, showing changes in how the deficits are connected.

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