DOI: 10.5176/2251-2853_3.1.130
Authors: Dr. Alex Afouxenidis and Dr. Manto Lampropoulou
Abstract:
The Greek economy shifted towards privatization and liberalization after the mid 1990s. These policies were part of a broader process of state reform, which aimed at reducing government’s involvement in major sectors of the economy, such as public utilities and the financial/banking sectors. However, this transition added new financial burdens to the state, generating substantial amounts of debt which peaked during the current financial crisis. The purpose of this contribution is to review the restructuring of the state via privatization policies and to assess the effect of the reforms on democracy, accountability and social equity. These questions are being addressed through a combination of theory and empirical evidence, by comparing and contrasting the energy and telecommunications sectors.
Keywords: State reform, privatization, liberalization, democracy, accountability, social inequality, public utilities
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