Adjustment mechanisms of Greek regions in export activity during the economic crisis of 2008-2012

Under the deep and protracted recession that plagues the Greek regions, exports have shown some positive signs of resilience. This paper explores through a spatial econometric analysis of SUR models, first, the changes that occurred in exports by the (NUTS 3 level) regions for the period 2008-2012 to offer resistance against the crisis and to stimulate growth, which entail expansion of export demand, improvement in the quality of agricultural products, deeper specialization in broad low-technology sectors and simultaneous increases in the variety inside these sectors and second, the ability of exports to transfer their growth gains to the broader economy.