OECD Reviews of Regulatory Reform: Regulatory Reform in Greece 2001

OECD's review of Greece's regulatory reform.  It finds that under the spur of intensifying European competition and seizing the opportunity of a stable political and macroeconomic environment, Greece has launched itself on the road to market liberalisation. This road, trod later in Greece than in most OECD countries, is necessary to fuel the sustainable economic growth that will create jobs and drive convergence with other European countries. Sustained and consistent reforms over the next few years will do much to bring Greek regulatory practices up to OECD good practices and build credibility for Greek reforms. Greece still suffers from the high costs of poor regulation in some areas and too little pro-market regulation in others, such as the liberalising utility sectors. Long traditions of political intervention and protection of economic actors will be difficult to reverse. The confluence of positive elements - growing consensus for reform, macroeconomic stability, and healthy economic growth - suggest that the next few years will be decisive years of reform in Greece.  This Review presents an integrated assessment of regulatory reform in framework areas such as the quality of the public sector, competition policy and enforcement, and market openness. It also contains chapters on sectors such as telecommunications, electricity, domestic ferries and trucking, and an assessment of the macroeconomic context for reform. The policy recommendations present a balanced plan of action for both short and longer term based on best international regulatory practices.