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Stability of International Financial Markets at Risk: the Greek Case

New issue of Journal of Economic and Social Measurement investigates the impact of the Greek crisis on international financial markets

March 27, 2013
AMSTERDAM – Policy-makers worldwide worry about the wider implications that Greece’s open bankruptcy may have on the stability of financial markets in general, in the cohesion of the European Union in particular. With Cyprus agreeing to close its second largest bank (Laiki bank) in exchange for a €10 million bailout, it begs the question whether a pattern can be detected in countries in the EU struggling to keep their heads up financially. The editors of this special issue of the Journal of Economic and Social Measurement, Volume 38, issue 1 (2013), investigate.

Guest editor George C. Bitros: “Why and how did Greece backtrack from the high economic growth period before 1974 to the calamities of today? How can truth be separated from fiction with regard to the quality of data from Greece, so as to identify those to which world media sarcastically refer as “Greek statistics”? And, how are the prospects of Greece returning sometime soon to robust economic growth, the only way to confront the imminent threat of an open bankruptcy?”

The included papers in this issue, written by a distinguished group of Greek research economists who are known for breadth of knowledge and experience in their fields of specialization, offer significantly convincing evidence on all three objectives. Firstly, they look back at the history of Greek economics since it flourished in 1974. Secondly, the reliability of data is investigated. Lastly, a prediction is made on how Greece can recover from the crisis.

About the Journal of Economic and Social Measurement

The Journal of Economic and Social Measurement (JESM) is a quarterly journal that is concerned with the investigation of all aspects of production, distribution and use of economic and other societal statistical data, and with the use of computers in that context. JESM publishes articles that consider the statistical methodology of economic and social science measurements. It is concerned with the methods and problems of data distribution, including the design and implementation of data base systems and, more generally, computer software and hardware for distributing and accessing statistical data files. Its focus on computer software also includes the valuation of algorithms and their implementation, assessing the degree to which particular algorithms may yield more or less accurate computed results. It addresses the technical and even legal problems of the collection and use of data, legislation and administrative actions affecting government produced or distributed data files, and similar topics.

Editor-in-Chief
Dr. Charles G. Renfro
Journal of Economic and Social Measurement
11-13 Princeton Road
Bala Cynwyd, PA 19004-2242
USA
Tel.: +1 212 531 4448
Email: jesmeditor@gmail.com

About the issue:

Greece and Greek Statistics
Guest Editor: George Bitros

Volume 38, Number 1 / 2013
ISSN:0747-9662 (Print) – 1875-8932 (Online)

Introduction
George C. Bitros
DOI 10.3233/JEM-130365

From riches to rags or what went wrong in Greece
George C. Bitros
DOI 10.3233/JEM-130370

An analysis of Greek external sector statistics and their application in academic research and economic policy making
Nancy K. Theofilakou and Yannis Stournaras
DOI 10.3233/JEM-130368

A methodological review of the Greek Annual Industrial Survey
Aggelos Tsakanikas and Michail Vassiliadis
DOI 10.3233/JEM-130369

Are Greek government deficit and debt statistics reliable?
John Loizides
DOI 10.3233/JEM-130367

Dynamic aspects of the underground economy in Greece
John Yfantopoulos
DOI 10.3233/JEM-130366

Economic growth in Greece: Medium-term trends and future prospects
Sotiris Papaioannou
DOI 10.3233/JEM-130371