Weak productivity accounts for much of the decline in output since the onset of the crisis. The full implementation of structural reforms will boost productivity and inclusive growth. Productivity growth will also be boosted by easing the regulatory burden and barriers to competition further, especially in network industries and protected professions.
Source: OECD June 2016 Economic Outlook database; OECD, Income Distribution and Poverty database; and OECD Secretariat calculations from EU-SILC – preliminary results.
Ioannis Voutsinas and Constantinos Tsamadias (2014), "Does research and development capital affect total factor productivity? Evidence from Greece", Economics of Innovation and New Technology, 23:7, 631-651.
Nikos Benos and Stelios Karagiannis (2016), "Do education quality and spillovers matter? Evidence on human capital and productivity in Greece", Economic Modelling, Vol. 54, pp. 563-573.
Productivity - enhancing institutions
There is no single institution dedicated to productivity in Greece. The Hellenic Competition Commission and the Ministry of Economy, Development and Tourism, among others institutions, provide analysis on productivity issues.