Article

 

THE GREEK DEPRESSION: POVERTY OUTCOMES AND WELFARE RESPONSES (p.205-222)

by

Stefanos PAPANASTASIOU, DEMOCRITUS UNIVERSITY OF THRACE

Christos PAPATHEODOROU, PANTEION UNIVERSITY OF SOCIAL AND POLITICAL SCIENCES

Keywords : Poverty, Intergenerational mobility, Social protection, Economic crisis, Austerity, Greece

JEL classification : I31, I32, I38

Abstract

This paper investigates poverty outcomes and social protection developments in Greece over the critical period 2008-2015. The empirical findings reveal a dramatic deterioration of the living and welfare standards of many Greeks, whereas social protection is under drastic reductions as results of austerity policies that are dictated by the Memoranda. Employing a logit model, it is found that poverty reproduction is a pressing matter that portrays contemporary Greece and deserves consideration by researchers and policymakers. In consequence, Greece is boxed in fiscal discipline when public and social spending is most needed to bolster social cohesion and boost economic growth.