Economics and Finance


Regional Analysis of Standards of Living and Inequalities in Greece and the Allocation of eu Funding

Authors: George Giannias

Regional indices get special attention because of their all inclusive nature which focuses on variables that are able to describe a region and indicate the level of its development. An analysis of consumer’s decision making indicates that the weights used for the regional variables considered and included in the index should not vary across regions. Given this, a regional index is computed for the 10 major regions of Greece assuming that all variables incorporated in it are equally weighted. The values of all variables considered are scaled from 0 - 100, so that the index is independent of units of measurement. According to the adapted regional index, the Athens Region is on the top of the ranking followed by Crete, Macedonia, Thessalia, Aegean Islands, Thrace, Peloponnisos, Sterea Ellada and Evia, Ionian Islands, and Epirus. A comparison of the regional indices with the per capita European Union funding indicates that the allocation of funds supports the integration process within Greece. Finally, an analysis of the actual versus the planned spending of the European Union funding indicates the low project management capabilities of the local (regional) administration in all cases. Keywords: standards of living, inequalities, European Union funding JEL Classification: R50

Comments: 38 Pages. Published in The Hellenic Open Business Administration Journal;

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Submission history

[v1] 2018-07-04 00:03:03

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