publication . Preprint . 2014

The Puzzle of the Missing Greek Exports

Uwe Boewer; Vasiliki Michou; Christoph Ungerer;
Open Access
  • Published: 01 Jun 2014
Why is Greece such a surprisingly closed economy? We employ a gravity model of trade to explain the appallingly poor export performance of Greece and argue that weak institutional quality accounts for a large part of this shortfall. Using a rich dataset of bilateral value-added exports of goods and services of 39 exporters and 56 importers for 18 sectors, we first estimate that Greece exports ? less than what regular international trade patterns would predict on basis of Greek GDP, the size of its trading partners and geographical distance. This ranks Greece at the 31st position out of 39 export countries in the competitiveness ranking we construct based on our ...
free text keywords: jel:C23, jel:E02, jel:F14
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