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Tytuł artykułu

Greek economic crisis management program and its impact on public employees’ earnings: a case series and literature review

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Warianty tytułu
PL
Grecki program zarządzania kryzysem gospodarczym i jego wpływ na doroby pracowników publicznych: seria przypadku i przegląd literatury
Języki publikacji
EN
Abstrakty
EN
The economic crisis forced the Greek Government to implement a series of controversial fiscal consolidation policies, also known as Memoranda of Economic and Financial Policy (a.k.a. Memoranda), resulting in internal market devaluation and significant inflation alterations in employees’ income in the public and private sector. The purpose of our study was to review the management program of the Greek economic crisis through the enforced economic and fiscal policies and measure its impact on public sector employees' incomes. The authors also presented case series in order to investigate the magnitude of that impact. The study hypothesized that the reforms taken during the Greek economic crisis had a substantial negative impact on employees’ payroll. The authors conducted a literature review in English until June 2021. They searched Scopus, IDEAS/RePEc and primary sources, such as Greek Government Newspaper, Bank of Greece reports, Greek Ministry of Finance reports, European Commission reports, European Union reports, Eurostat reports and Greek Statistical Authority (ELSTAT) reports. Moreover, in order to present the case series, the payroll data were collected from the office of a Greek public university. The study results showed that the fiscal policies that were enforced during the Greek economic crisis period (i.e. Memoranda) had a significant negative impact on the income of the employees of the public sector, irrespective of the employee’s educational status, with 2012 being the year, in which the highest rate of income’s reduction was noticed.
PL
Kryzys gospodarczy zmusił rząd grecki do wdrożenia szeregu kontrowersyjnych polityk konsolidacji fiskalnej, znanych również jako Memorandy Polityki Gospodarczej i Finansowej (inaczej Memoranda), skutkujących dewaluacją rynku wewnętrznego i znacznymi zmianami inflacji w dochodach pracowników w społeczeństwie i sektor prywatny. Celem naszego badania był przegląd programu zarządzania greckim kryzysem gospodarczym poprzez narzuconą politykę gospodarczą i fiskalną oraz zmierzenie jego wpływu na dochody pracowników sektora publicznego. Autorzy przedstawili również serie przypadków w celu zbadania wielkości tego wpływu. W badaniu wysunięto hipotezę, że reformy podjęte podczas greckiego kryzysu gospodarczego miały istotny negatywny wpływ na płace pracowników. Autorzy dokonali przeglądu literatury w języku angielskim do czerwca 2021 r. Przeszukali Scopus, IDEAS/RePEc oraz źródła podstawowe, takie jak: gazeta rządu greckiego, raporty Banku Grecji, raporty greckiego Ministerstwa Finansów, raporty Komisji Europejskiej, raporty Unii Europejskiej, raporty Eurostatu oraz sprawozdania greckiego urzędu statystycznego (ELSTAT). Ponadto, w celu przedstawienia serii przypadków, dane dotyczące wynagrodzeń zostały zebrane z biura greckiego uniwersytetu publicznego. Wyniki badania wykazały, że polityki fiskalne, które były egzekwowane w okresie greckiego kryzysu gospodarczego (tj. Memorandy) miały istotny negatywny wpływ na dochody pracowników sektora publicznego, niezależnie od ich wykształcenia, przy czym rokiem 2012 był rok, w którym odnotowano najwyższą stopę spadku dochodów.
Rocznik
Strony
431--448
Opis fizyczny
Bibliogr. 41 poz., rys.
Twórcy
  • University of West Macedonia, Department of Management Science & Technology
  • University of West Macedonia, Department of Management Science & Technology
  • Hellenic Mediterranean University, Department of Business Administration and Tourism
  • University Western Macedonia, Department of Procurement and Estates Management
Bibliografia
  • 1.Adam, A., (2020).Under economic adjustment programs, do private sector wages respond to changes in public wages and employment? Journal of Policy Modeling,42,6,1334-1351.
  • 2.Provopoulos G., (2008). Bank of Greece Speech on International Financial Crisis: Challenges for Economic Policy at an event of the Hellenic-British Chamber of Commerce.
  • 3.Bank of Greece, (2009). Report of the Governor for the year 2008, Athens: Bank of Greece Banknote and Securities Printing Foundation.
  • 4.Bank of Greece, (2010). Available at: https://www.bankofgreece. gr/Publications/ekthdkth2009.pdf ,Access on: 12.7.2021.
  • 5.Bank of Greece, 2011, Available at: https://www.bankofgreece.gr/Publications/ekthdkth2010.pdf ,Access on: 12.72021.
  • 6.Bank of Greece,2013, Available at: https://www.bankofgreece.gr/Publications/ekthdkth2012.pdf , Access on: 12.7.2021.
  • 7.Bodea, C., Houle, C. and Kim, H., (2021). Do financial crises increase income inequality?. Journal World Development, 147.
  • 8.Doorley, K., Callan, T. and Savage, M., (2021). What drove income inequality in EU crisis countries during the Great Recession? Journal Fiscal Studies, 42,2, 319-343.
  • 9.Economic and Financial Affairs., (2020). Enhanced Surveillance Report-Greece, November 2020.
  • 10.European Central Bank., (2012). Euro Area Labor Markets and the Crisis, Structural Issues Repor.
  • 11.European Commision., (2010). The Economic Adjustment Program for Greece.
  • 12.European Commission.,. (2012). Second program for Greece.
  • 13.European Commision., (2017). Salary Developments and Salary Determination Systems.
  • 14.European Commission., (2018). Enhanced Surveillance Report.
  • 15.European Council of the European Union., (2018). Greece: the third economic adjustment programme.
  • 16.General Secretariat of the Council, (2019). Greece: the third economic adjustment programme, Brussel: General Secretariat of the Council.
  • 17.Glassner, V., Watt, A., (2010). Cutting wages and employment in the public sector: Smarter fiscal consolidation strategies needed. Journal Intereconomics, 45, 4,212-219.
  • 18.Government Gazette Greece., (2010). FEK 40/A’/15-03-2010, Law 3833/2010, Protecting the national economy - Urgent measures to deal with the financial crisis.
  • 19.Government Gazette Greece., (2010). FEK 212/A’/17-12-2010, Law 3899/2010, Urgent measures for the implementation of the support program for the Greek economy.
  • 20.Government Gazette Greece., (2010). FEK 65/A’/06-05-2010, Law 3845/2010, Measures for the implementation of the support mechanism of the Greek economy by the Member States of the Eurozone and the International Monetary Fund.
  • 21.Government Gazette Greece., (2011). FEK 138/A’/16-06-2011, Law 3979/2011, For e-government and other provisions.
  • 22.Government Gazette Greece., (2011). FEK 226/A’/27-10-2011, Law 4024/2011, Pension arrangements, uniform payroll, employment reserve and other provisions implementing the medi-um-term fiscal strategy framework 2012-2015.
  • 23.Government Gazette Greece., (2012). FEK 14/A’/27-02-2012, Law 4038/2012, Urgent arrangements for the implementation of the medium-term fiscal strategy framework 2012-2015.
  • 24.Government Gazette Greece., (2012). FEK 28/A’/14-02-2012, Law 4046/2012. Approval of the Draft Financial Facility Agreements between the European Financial Stability Facility (EFSF), the Hellenic Republic and the Bank of Greece, of the Draft Memorandum of Understanding between Hellenic Republic of the European Commission and the Bank of Greece and other urgent provisions for the reduction of public debt and the rescue of the national economy.
  • 25.Government Gazette Greece., (2012). FEK 222/A’/12-11-2012, Law 4093/2012. Approval of the Medium Term Fiscal Strategy Framework 2013-2016 - Urgent Measures for the Implementation of Law 4046/2012 and the Medium Term Fiscal Strategy Framework 2013-2016.
  • 26.Government Gazette Greece., (2013). FEK 167/A’/23-0-2013, Law 4172/2013. Income taxation, urgent measures for the implementation of Law 4046/2012, Law 4093/2012 and Law 4127/2013 and other provisions.
  • 27.Government Gazette Greece., (2015). FEK 94/A’/14-08-2015, Law 4336/2015. Pension provisions - Ratification of the Draft Financial Assistance Agreement by the European Stability Mechanism and arrangements for the implementation of the Financing Agreement.
  • 28.Government Gazette Greece., (2016). FEK 85/A’/12-05-2016, Law 4387/2016. Unified Social Security System - Reform of the insurance - pension system - Arrangements for income tax and gambling and other provisions.
  • 29.Government Gazette Greece., (2016). FEK 94/A’/27-05-2016, Law 4389/2016. Urgent provi-sions for the implementation of the Fiscal Objectives and Structural Reform Agreement and other provisions.
  • 30.Greece., (2010). Memorandum of Understanding on Specific Economic Policy Conditionality (2010, May 3).
  • 31.Greek Association of Political Economy. Economic Crisis and Greece., (2011). Athens: Gutenberg.
  • 32.Katsikas, D., Anastasakou, H., Nitsi, E. and Petralias, A., (2018). Structural Reforms in Greece during the Crisis:2010-2014. Overview, Evaluation and Policy Proposals.
  • 33.Kazakos, P., (2013). From imperfect modernization to crisis. Athens., Patakis Publications.
  • 34.Laskos, C., Tsakalotos, E., (2013). Crucible of Resistance: Greece, the Eurozone and the World Economic Crisis. United Kingdom., Pluto Press.
  • 35.Liargovas P., Economidis N., Roumeliotis, F., Sahinidis F. and Hionis D., (2014). The Debt Solutions-Economic Chamber of Greece. Scientific Publication of the Economic Chamber of Greece.
  • 36.Mavridis, S., (2018). Greece’s economic and social transformation 2008-2017.Journal of Social Sciences.
  • 37.Sarracino, F., Piekalkiewicz, M., (2021). The Role of Income and Social Capital for Europeans’ Well-Being During the 2008 Crisis. Journal of Happiness Studies, 22, 4, 1583-1610.
  • 38.Tsampra, C., (2014). The Greek Political Economy 2000-2010: From EMU to Support Mechanism. Athens: Libanis.
  • 39.isvizi, A., (2012). The Crisis in Greece and the EU-IMF Rescue Package: Determinants and Pitfalls. Acta Oeconomica, 12, 1, 15-39.
  • 0.Xnthos, G., Zopounidis, C., Garefalakis, A., Lemonakis, C. and Passas, I., (2020). Distinguish regional performance with the use of shift-share analysis and MCDA methods: a gross value added perspective. Operational Research International Journal (2020).
  • 41.Zopounidis, C., Garefalakis, A., Lemonakis, C. and Passas, I., (2020). Environmental, social and corporate governance framework for corporate disclosure: a multicriteria dimension analysis approach. Management Decision,58,11, 2473-2496
Uwagi
Opracowanie rekordu ze środków MEiN, umowa nr SONP/SP/546092/2022 w ramach programu "Społeczna odpowiedzialność nauki" - moduł: Popularyzacja nauki i promocja sportu (2022-2023).
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-aa5e24a1-6ad6-42a4-ab60-0d1d000e849f
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