2005 OECD Economic Surveys: Greece 2005

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This 2005 edition of OECD's periodic survey of Greece's economy examines two key challenges: the need for sustained fiscal consolidation and closing the income gap with the European Union. After an examination of major economic trends, the Survey looks in more detail at the fiscal challenge and at raising productivity and labour force participation. This edition's special chapter looks at the economic impact of migration in Greece.

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The Economic Impact of Migration

Migration has always been an important phenomenon in Greece with large flows of emigration for several decades after the Second World War and large immigration flows since 1990. The cycle of emigration followed by significant return migration to Greece can be seen as part of Greece’s adjustment from a rural economy to an urban one, although there were significant political influences involved as well. The inflow of immigrants during the 1990s was large, possibly raising the share of foreigners in the population to over 10% and increasing the labour force by between 5 and 10%. Given the rigidities of the formal labour market in Greece, the existence of a substantial informal sector with latent demand for low-paid labour allowed illegal immigrants to find jobs in large numbers even while structural unemployment...

Anglais Egalement disponible en : Français

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