Greece: From Exit to Recovery?

Introduction

List of Abbreviations AMECO Annual Macroeconomic Database of the European Commission (http://ec.europa.eu/economy_finance/ db_indicators/ameco/index_en.htm) BERD business expenditure on research and development BoG Bank of Greece B-P test Breusch-Pagan test of heteroscedasticity CDF cumulative distribution function EA euro area EC European Commission ECB European Central Bank EFSF European Financial Stability Facility EIB European Investment Bank ELA emergency liquidity assistance EMI European Monetary Institute EMU European Monetary Union ESA European System of National and Regional Accounts (followed by the European Commission for its official records and statistics, or Eurostat). EU European Union Eurosystem European Central Bank and the national central banks together constitute the Eurosystem, the central banking system of the euro area xvii 00-2577-0 fm.indd 17 4/30/14 1:48 PM xviii List of Abbreviations FDI foreign direct investment FGLS feasible generalized least squares (estimation) GCR Global Competitiveness Report GDP gross domestic product GERD gross expenditure on R&D HFSF Hellenic Financial Stability Fund ICT information and communication technology IKA Idrima Kinonikon Asfaliseon (Greek social security fund for private sector employees) IMF International Monetary Fund INSEAD Institut Européen d’Administration des Affaires (European Institute of Business Administration) IPO initial public offering MFI main financial institution MP member of parliament NACE Nomenclature statistique des activités économiques dans la Communauté européenne (European statistical classification of economic activities) OECD Organization for Economic Cooperation and Development OLS ordinary least squares (estimation) OMED Organization of Mediation and Arbitration PSI private sector involvement R2 coefficient of determination R&D research and development SMEs small and medium enterprises SURE seemingly unrelated regression equations VAT value added tax VIF vector inflation factor UN United Nations WEF World Economic Forum WGI World Governance Indicators 00-2577-0 fm.indd 18 4/30/14 1:48 PM GREECE FROM EXIT TO RECOVERY? 00-2577-0 fm.indd 19 4/30/14 1:48 PM 00-2577-0 fm.indd 20 4/30/14 1:48 PM ...