ARTÍCULO
TITULO

Significant Determiners of Greek Debt Crisis: A Comparative Analysis with Probit and MARS Approaches

Filiz Mizrak    
Serhat Yüksel    

Resumen

The purpose of this study is to determine major indicators of the Greek crisis that started in 2009 and the effects of which can still be observed. In this regard, 8 independent variables were applied so as to fulfill the objective. Besides, the annual data between the years 1984 and 2016 was analyzed with Probit model. As a consequence of this study, it was concluded that inflation and gross savings are the leading meters of Greek crisis based on probit method. On the other hand, according to the MARS results, 3 different variables are identified as the indicators of the debt crisis in Greece. It is concluded that there is a negative relation between financial crisis with saving ratio and current account balance. Additionally, it is also identified that high unemployment ratio leads to financial crisis. While comparisng the results of these two approaches, it is concluded that MARS is much more successful than the probit method to predict the debt crisis in Greece. It is strongly recommended that saving ratio should be increased in Greece. For this purpose, governments should take some actions in order to increase this ratio more than 15.5%. Within this framework, media channels can be used by the government to tell the people about the importance of the savings to have sustainable economic development.

Palabras claves

 Artículos similares

       
 
Ad van Riet     Pág. Finance an - 57
European financial regulation consistently gives governments privileged access to private investors, reflecting the anchor role assigned to sovereign securities as safe and liquid assets for the financial system. Legislative reforms after the financial c... ver más

 
Marina Beljic,Olgica Glava?ki,Jovica Pejcic     Pág. 039 - 052
After global financial crisis, intensive tax policies adjustments were applied in emerging European Union (EU) economies, for the sake of tax competitiveness. In order to ensure that aim, emerging EU economies most often choose the policy of tax reductio... ver más

 
Elsa Dyahpitaloka,(University of IndonesiaIndonesia)Ririen Setiati Riyanti,(University of IndonesiaIndonesia)     Pág. 433 - 444
This study aims to analyze the impact of a credit crunch on a firm's likelihood of conducting an IPO during the COVID-19 pandemic. The study on credit crunch is still limited, the majority of which focuses on the financial crises of 1998 or 2008. Meanwhi... ver más

 
Tanja Stani?ic,Miljan Lekovic,Sonja Milutinovic     Pág. 155 - 166
The Covid-19 pandemic has brought numerous challenges and limitations globally. Countries around the world are facing the negative socio-economic consequences of the global health crisis. As the tourism sector is one of the most important sectors of the ... ver más

 
Cristina Gabriela Cosmulese    
The current crisis demonstrates the critical role that energy plays in our lives. The vulnerability of some of us in relation to an essential daily service illustrates that public policies need to be strengthened to deliver a resilient and fair market in... ver más