Labour market regulations and efficiency in tourism industry

• Emmanuel Mamatzakis ^[3] ; Panagiotis Pegkas ^[1] ; Christos Staikouras ^[2]
  1. [1] University Of Thessaly

     University Of Thessaly

     Dimos Volos, Grecia

     
  2. [2] Athens University of Economics and Business

     Athens University of Economics and Business

     Dimos Athens, Grecia

     
  3. [3] Birkbeck, University of London

     Birkbeck, University of London

     Reino Unido

     

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• Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 29, Nº. 4, 2023, págs. 1032-1054
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • This study examines the effect of the labour market regulations on Greek tourism industry performance. The tourism industry, the steam engine of the Greek economy, always drives to enhance efforts to reach further savings in operating costs. However, the labour regulations that influence the tourism sector’s ability to adjust costs have not been thoroughly investigated. We present a novel methodology that permits the evaluation of the effect of labour market regulations on technical and allocative efficiency in one step. The empirical results demonstrate the complexity of the relationship between labour regulations and efficiency. Labour market liberalization is associated with improvements in allocative efficiency but may have opposite effects on technical efficiency. Policymakers should pay attention to these complicated interactions when planning reforms on labour market.