Pnevmatikos-Niavis-Polyzos, 82-93 MIBES ORAL Larissa, 8-10 June 2013 82 Evaluating Greek economic sectors' regional dynamics during the pre and in-crisis period Triantafyllos Pnevmatikos University of Thessaly, School of Engineering, Department of Planning and Regional Development trpnevmatikos@gmail.com Spyros Niavis University of Thessaly, School of Engineering, Department of Planning and Regional Development niavisspiros@gmail.com Serafeim Polyzos University of Thessaly, School of Engineering, Department of Planning and Regional Development spolyzos@uth.gr Abstract As economic recession is still present in Greece, economic sectors are strongly influenced by the negative growth rates of Greek economy. The process of recovery should be primarily based on the strengthening of the most competitive sectors. The present paper aims at the identification of the sectors that should constitute the growth engines of the Greek economy. Analysis does not only target on the national level, but it also takes into account the dynamics of sectors in Greek prefectures. The present paper focuses both on the pre-crisis and in-crisis period as the estimations concern the years 2005 and 2010. For the identification of sectors’ dynamics, an input – output analysis is adopted and the size of regional multipliers for the Greek prefectures (NUTS III) is estimated. Then, the observed differences and the changes amongst the multipliers for the prefectures and sectors are analyzed and evaluated. Additionally, the values of regional multipliers of the most dynamic sectors are implemented as the dependent variable in a regression analysis in which a set of socio-economic and spatial factors of Greek prefectures are used as the independent variables. By doing so, we are able to capture the relationship among the characteristics of each prefecture and the dynamics of its economic sectors. Keywords: Input-Output Analysis, Regional multipliers, Regional Development, Tobit regression, Greece JEL classification: R15, O33, O52, C240 Introduction Input-output I-O analysis as an economic modeling technique aims at understanding the interactions between productive sectors, producers and consumers within an economy. It is a powerful tool for the estimation of magnitude of transactions occurred between different sectors of an economy, providing useful overview of the structure of it (Polyzos and Sofios, 2008). An input-output table includes the flows of products from each sector considered as a producer to each of the sectors considered as consumers (Miller and Blair, 2009). Several I-O techniques have been developed and are widely used worldwide for measuring diverse elements and entities such as gross regional product, household consumption and employment generation.