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• W3124584188 abstract "Last December, downtown Athens experienced three nights of street battles, arson, and looting that became headlines in the international press. We argue that the reasons for this extreme social turbulence are related to the regulatory and institutional rigidities that still prevail in Greece’s economy, despite the strong growth that it enjoyed until recently. Furthermore, we describe the pattern of state intervention, institutional sclerosis, and high administrative costs that secure and allocate “rents” to interest groups that obstruct all efforts to reduce these rents and to open up the economy. 1 In particular, we argue that these numerous rent-seeking groups curtail competition in the product and services markets, increase red tape and administrative burdens, and actively seek to establish opacity in all administrative and legal processes in order to form an environment in which they will be able to increase the rents they extract. At the same time, they actively strive to ensure that the rule of law fails to such an extent that the society will not be able to hold them" @default.
• W3124584188 created "2021-02-01" @default.
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• W3124584188 date "2009-09-22" @default.
• W3124584188 modified "2023-09-26" @default.
• W3124584188 title "Vikings in Greece: Kleptocratic Interest Groups in a Closed, Rent- Seeking Economy" @default.
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