‘Stick to the knitting’ vs. ‘the mysteriously potent charm of diversification’: The Greek evidence

This paper provides evidence on the extent, nature of and factors associated with diversification using a novel set of data, referring to both firms and plants, from the Greek manufacturing sector (1992). The paper brings together a strand of hypotheses formulated, and partially tested, in the relevant literature. More specifically, we investigate the relationship between the degree of diversification and firm/industry characteristics by separately examining the behaviour of multiplant and uniplant firms. Certain patterns emerge which are then compared with those that arose in other studies. Copyright. © John Wiley & Sons, Ltd

Twin deficits and financial integration in EU member-states

In this paper, we find that changes in general government balances in the EU-15 member-states are matched to a large extent by opposite changes in the private savings-investment gap, implying that changes in public sector deficits have a rather small relationship with current account deficits. Also, using an empirical framework implied by a well-known, intertemporal model of the current account, we find that current account developments in Greece are explained by factors which are related to financial and economic integration, such as interest rate spreads and growth differentials, as well as to the general government balance. © 2006 Society for Policy Modeling

The growth of Greek hotels before and during the crisis

This paper aims at determining the critical factors affecting the growth of the tourism sector in Greece, by using data for an extensive panel of Greek tourism enterprises for 2005–2016 period. As the Greek economy is trying to recover from a deep and prolonged recession, exploring growth issues in specific sectors could help identify those sectors which could act as drivers of growth for the Greek economy out of the recession. The tourism sector, which accounts for almost 25% of GDP in Greece (directly and indirectly), is an obvious candidate for contributing to this goal. The econometric results suggest that the recent crisis has resulted to a differentiation of the determinants of growth of Greek tourism firms. © 2020 Informa UK Limited, trading as Taylor & Francis Group

Drivers of Productivity in the Portuguese Nature Tourism Industry

Part of the Smart Innovation, Systems and Technologies book series (SIST, volume 208)Considering the importance of tourism to the world economy, productivity measurement has been raising increasing interest in academia and recognized as critically important for the understanding of the strengths and weaknesses of the tourism sector. Thus, this paper analyses the determinants of firm-level labor productivity of Portuguese nature tourism firms. A fixed effects model was used to analyze the impact of physical capital, human capital, firm size, innovation, competition and agglomeration economies on labor productivity of Portuguese nature tourism firms, for 2014–2017. The sample comprises 369 firms, representing 55% of firms operating in nature tourism in the mainland. Results show that labor productivity is driven by physical capital, suggesting that human resources in nature tourism are more productive when helped by machinery and equipment, for example information technology. By contrast, the negative impact of the number of employees on labor productivity may be triggered by inefficiencies, due to dysfunctions in tourism services with excess of personnel. Also, and in the case of Algarve, the presence of agglomeration economies may hinder labor productivity. Indeed, the existence of many tourism firms in the region and, therefore, several employment opportunities, might dampen the incentive to increase productivity on the part of employees in nature tourism firms. These results can be of significant use to further understand the various dimensions of tourism management.info:eu-repo/semantics/publishedVersio