The Effects of the 2007 Global Economic Crisis on Firm Relocation Factors: SME Movements from Greece to Bulgaria
This chapter examines the ways in which the 2007 global economic crisis has influenced firm relocation factors. Firm mobility constitutes a dynamic process, with its aspects changing in response to significant broader processes, such as globalisation. Specifically, the recent crisis has modified the socio-economic conditions under which firms operate. In order to examine the crisis-driven changes in firm mobility, this chapter employs a comparative analysis of the pre- and post-crisis relocation of Greek small and medium-sized companies to Bulgaria, which has recently increased. Greece is at the epicentre of academic and political debate in Europe, being the European Union member state mostly affected by the crisis. In the context of the changing economic and institutional conditions, it is demonstrated that the significance of the firm relocation factors, such as labour cost and level of demand, records considerable differences between the pre- and the post-crisis period.
- Bank of Greece. (2017). Online database. http://www.bankofgreece.gr/Pages/el/Statistics/default.aspx. Accessed February 11, 2017.
- Eurostat. (2017). Online database. Available at: http://epp.eurostat.ec.europa.eu. Accessed January 28, 2017.
- Fowler, F. (2008). Survey research methods (4th ed.). London: Sage.Google Scholar
- Giannitsis, A. (2013). Greece in crisis (in Greek). Polis, Athens.Google Scholar
- Guzik, R., & Micek, G. (2008). The impact of delocalisation on the european software industry. In L. Labrianidis (Ed.), The moving frontier. The changing geography of production in labour-intensive industries (pp. 229–251). Aldershot: Ashgate.Google Scholar
- Harvey, D. (1982). The limits to capital. Oxford: Blackwell.Google Scholar
- Hayter, R. (1997). The dynamics of industrial location. The factory, the firm and the production system. Oxford: Wiley.Google Scholar
- Holl, A. (2004). Start-ups and relocations: Manufacturing plant location in Portugal. Papers in Regional Science, 83(4), 649–668.Google Scholar
- Hudson, R. (2001). Producing places. London: Guildford.Google Scholar
- ILO. (2015). Small and medium-sized enterprises and decent and productive employment creation. Geneva: ILO.Google Scholar
- Kapitsinis, N., Metaxas, T., & Duquenne, M. N. (2013). Exploring the coherence and the meaning of territorial competition. Do national states behave in the same way as firms in case of default? The case of Greece and Dubai. Applied Econometrics and International Development, 13(2), 57–72.Google Scholar
- Koster, S., & Kapitsinis, N. (2015). Analysing the geography of high-impact entrepreneurship. In C. Karlsson, M. Andersson, & T. Norman (Eds.), Handbook of research methods and applications in economic geography (pp. 597–613). Cheltenham: Edward Elgar.Google Scholar
- Labrianidis, L. (1997). The opening of the Greek companies to the Balkan markets might have important negative consequences in the development of the country (in Greek). The Hellenic Review of Political Sciences, 9, 65–101.Google Scholar
- Labrianidis, L., & Vogiatzis, N. (2013). Restructuring in SMEs: Greece. http://www.eurofound.europa.eu/publications/htmlfiles/ef12475.htm. Accessed April 14, 2017.
- Lyberaki, A., & Paraskevopoulos, C. (2002). Social capital measurement in Greece. Paper presented at OECD-ONS International Conference on Social Capital Measurement, London, 25–27 September 2002.Google Scholar
- Miles, M., Huberman, A., & Saldaña, J. (2013). Qualitative data analysis: A methods sourcebook (3rd ed.). London: Sage.Google Scholar
- Ministry of Finance. (2017). Online database. http://www.minfin.gr/portal/en. Accessed May 19, 2017.
- Racoviţă, M. (2011). Europeanization and effective democracy in Romania and Bulgaria. Romanian Journal of Political Science, 11(1), 28–50.Google Scholar
- Shaiken, H. (1994). Advanced manufacturing and Mexico: A new international division of labour? Latin American Research Review, 29, 39–71.Google Scholar
- Transparency International. (2014). Corruption perceptions index 2014. http://www.transparency.org/cpi2014/press. Accessed February 22, 2017.
- Union of Hellenic Chambers. (2016). What pushes out firms from Greece? (in Greek). Press release in the 9th May 2016. http://www.uhc.gr/newsite/info/pdf/2016/09.05.2016.pdf. Accessed January 17, 2017.
- Valyrakis, S. (2008). Summary of main conclusions of the symposium. In A. Giannitsis (Ed.), Looking for a Greek developmental model (in Greek) (pp. 337–351). Athens: Papazisi.Google Scholar
- Wall Street Journal. (2015). Greek shipowners prepare to weigh anchor on prospect of higher taxes. http://www.wsj.com/articles/greek-shipowners-prepare-to-weigh-anchor-on-prospect-of-higher-taxes-1443520314. Accessed March 3, 2017.
- Yin, R. (2014). Case study research design and methods (5th ed.). London: Sage.Google Scholar