2025-05-20-IMF-优化资源配置以促进希腊经济增长（英）_15页_1mb

Improve Resource Allocation to Boost Growth in Greece

Since the 2010 European Debt Crisis, Greece's total factor productivity (TFP) has stagnated, lagging behind the euro area's growth. Regulatory reforms, though implemented, have had limited impact on overall productivity. Firm-level data reveal that resource misallocation, particularly pronounced in non-tradable service sectors and among smaller firms, has worsened from 2009 to 2020.

Key findings include:

• TFP Stagnation: Greece's TFP is 10% lower than in 2009, with dispersion in marginal revenue products increasing significantly.
• Resource Misallocation: This is more severe in non-tradable services and affects smaller firms disproportionately, contributing to about 3% of market economy sector GDP annually.
• Young Firms: Entry of young, productive firms has been insufficient to drive overall TFP growth.

Policy Recommendations:

• Accelerate Regulatory Reforms: Focus on reducing barriers in high-regulatory-cost sectors, include opt-out provisions, and broaden impact assessments to prioritize efficiency over effectiveness.
• Labor and Capital Market Reforms: Improve labor participation, reduce tax wedges, and address non-performing loans. Phased withdrawal of unemployment benefits and childcare support can enhance labor mobility.
• EU Integration: Remove barriers within the single market and invest in infrastructure to boost efficiency.

These reforms aim to optimize resource allocation, enhance business dynamism, and foster sustained productivity gains.