We introduce a novel tourism-specific business expectations sentiment index and explore whether it can operate as a leading indicator for international tourist arrivals in Greece. Using monthly data spanning 2002-2021 and employing a VAR model, we document that this newly introduced...

Constructing a financial stress index, we examine the relationship between financial stability and real estate price fluctuation in Greece, whose experience during the last two decades makes it an ideal laboratory. Employing a VAR and a Bayesian VAR model, we demonstrate the ability of this...

The growth-enhancing property of a well-functioned judicial system is documented on the back of the safeguarding of property rights and legal investor protection, the well-functioning of financial markets, the support to entrepreneurship and the upholding of the firm growth. We investigate the...