RETAIL FIRMS OVERCOME FINANCIAL CRISIS IN POSTWAR GREECE (1958-1988): TECHNIQUES AND ARTICULAR STRATEGIES

This article proposes a new viewpoint to Greek retail commerce in the postwar period. For a long period of time up to the 1970s Greece displayed impressive increases in all the macroeconomic indicators. Between 1954 and 1974 the growth rate exceeded 7%. In the commerce sector and especially in retai...

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Bibliographic Details
Published inEntreprises et histoire (Paris) no. 64; p. 76
Main Authors Chatziioannou, Maria Christina, Aranitou, Valia
Format Journal Article
LanguageEnglish
Published Paris Editions ESKA 01.09.2011
Subjects
Business growth
Economic crisis
Economic growth
Employment
European history
GDP
Gross Domestic Product
Inflation
Manufacturing
Market strategy
Retailing industry
Statistical analysis
Greece
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Summary:This article proposes a new viewpoint to Greek retail commerce in the postwar period. For a long period of time up to the 1970s Greece displayed impressive increases in all the macroeconomic indicators. Between 1954 and 1974 the growth rate exceeded 7%. In the commerce sector and especially in retail there was a significant increase of the number of enterprises as well as of the number of employed persons. However, it was a growth which was up to a great point independent from bank financing. The conditions were reversed in the period between 1974 and 1988, leading inflation to high rates while the growth of the GDP was decreasing rapidly. To overcome financial crisis, Greek retail firms used two basic business strategies: vertical integration of the production and direct selling, extended use and practice of postdated cheques. [PUB ABSTRACT]
ISSN:1161-2770
2100-9864