The contribution of organized food retail to the Greek socio-economic development during the years of economic crisis

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Nikolaos Zisoudis, Eleni Zafeiriou ORCID logo, Alexandros Garefalakis ORCID logo, Konstantinos Spinthiropoulos ORCID logo, Stavros Garefalakis

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The economic crisis in the EU had severe impacts not only on the performance of the domestic economy but also on the living standard for the citizens. The extended spread of this crisis resulted in limitation in the disposable income and significant negative changes have taken place with negative consequences for the corporate economic performance and competitiveness (de Jorge Moreno, Castillo, & de Zuani Masere, 2010). Within the dominance of certain conditions of economic crisis, there are a few firms that act as lighting exceptions. The present work makes an effort, to unveil the role of selected supermarket retail chain stores in the performance of certain macroeconomic parameters and therefore to illustrate the mechanism through which the restoration of the economy in Greece becomes feasible. More specifically, based on data derived by Eurostat and Greek National Statistics with the assistance of the findings of present analysis that validate a significant contribution of the firms studied to macroeconomic parameters such as national income or employment it may provide policymakers with knowledge tools to promote corporate efforts of this type and in sequence to lead the macroeconomic system in a trajectory of economic growth.

Keywords: Economic Crisis, Unemployment, Investments, Disposable Income

Authors’ individual contribution: Conceptualization — N.Z. and E.Z.; Methodology — N.Z. and A.G.; Software — N.Z.; Validation — A.G.; Formal Analysis — A.G., S.G., and K.S.; Investigation — N.Z. and K.S.; Resources — N.Z. and S.G.; Data Curation — N.Z., E.Z., and S.G.; Writing — Original Draft — N.Z.; Writing — Review & Editing — E.Z.; Visualization — A.G., K.S., and S.G.; Supervision — E.Z.; Project Administration —N.Z., E.Z., A.G., K.S., and S.G.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: E21, E32, E52

Received: 12.08.2021
Accepted: 12.11.2021
Published online: 17.11.2021

How to cite this paper: Zisoudis, N., Zafeiriou, E., Garefalakis, A., Spinthiropoulos, K., & Garefalakis, S. (2021). The contribution of organized food retail to the Greek socio-economic development during the years of economic crisis [Special issue]. Journal of Governance & Regulation, 10(4), 326–335.