Home >> FinanzArchiv: Public Finance Analysis, Volume 66, Number 2

Whither Public Interest: The Case of Greece's Public Finances

Authors: Moutos, Thomas; Tsitsikas, Christos

Source: FinanzArchiv: Public Finance Analysis, Volume 66, Number 2, June 2010 , pp. 170-206(37)

Publisher: Mohr Siebeck

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Abstract:

During the last three decades there has been an almost continuous undermining of the public interest by private interests operating either outside or inside Greek public administration. The result of this infiltration has been a gradual loss of bureaucratic autonomy to pursue the public interest. The web of relationships developed between private interests and the two dominant political parties has eroded both the efficacy of public administration and the dynamism of the private sector as incumbent firms and public- (or quasipublic-) sector functionaries have been using their power to prevent the birth of new firms and to raid the state coffers. The upshot of this process has been the emergence of permanently large budget and current account deficits, which have in turn driven Greece's foreign indebtedness to alarming levels, necessitating the current bailout by the EU, ECB, and IMF.

Keywords: DEBT; DEFICITS; POLITICAL ECONOMY; FISCAL CRISIS; GREECE

Document Type: Research article

DOI: http://dx.doi.org/10.1628/001522110X524205

Publication date: 2010-06-01

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  • FinanzArchiv founded in 1884 is one of the world's oldest professional journals in public finance.

    FinanzArchiv publishes original work from all fields of public economics which are of interest to an international readership, e.g. taxation, public debt, public goods, public choice, federalism, market failure, social policy, and the welfare state. Special emphasis is on high-quality theoretical and empirical papers on current policy issues.

    FinanzArchiv is a well-established, internationally oriented journal in the field of public economics, widely read in Europe and all over the world.

    FinanzArchiv is listed in the Social Science Citation Index (SSCI, JCR impact factor 2007 0,296), in Current Contents/Social and Behavioral Sciences, in IDEAS and RePEc (IDEAS/RePEc simple impact factor 2008 1.177), in the Journal of Economic Literature (CD and online), and in the International Bibliography of the Social Sciences.

    FinanzArchiv is a fully peer-reviewed journal committed to a prompt turnaround of submissions. No more than four months should pass between online submission of a manuscript and the editor's decision on acceptance, revision, or rejection.
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