Research Paper on:
Greece and Economic Growth Costs

Unformatted Sample Text from the Research Paper:
economy may have an impact on others. For example, the bring down inflation there may be the need to increase interest rates which may have a short term negative impact  on the economy. Where there is a budget deficit is may be necessary to cut public spending in order to bring government borrowing under control. In looking at Greece there  have been some recent economic reforms in order to aid the economy and bring it in line to join the single European currency. The aim of joining the currency has  been to grow the economy, and as such it may be seen as one example that there are disadvantages when there is the target of growing the economy.  In order to access if the costs of economic growth will outweigh the benefits that are gained the student needs to look in more detail at Greece and the benefits  and disadvantages it has realised in seeking to grow its economy. In the years between 1995 - 2000 there has been steady growth in the Greek GDP, averaging 3.3% per  annum, this is slightly higher than the average EU countries growth (Kollintzas and Bosworth, 2001). This is shown in figure 1 Figure 1 Growth in the Greek GDP compared with  the EU 15 member states 1993 - 2002 (Bank of Greece, 2002). Historically growth has been seen to come  at a price in this country. For example, in looking at the time period between the 1960 - 19870 there is a period of growth. Figures suggest that the  1980s may have been a time of gain but that the gains made were limited. While growth was in place, the Greek per capital gross national product only increased