Investment Patterns and the Competitiveness of Greek Regions.

This paper aims at mapping and analyzing the determinants of industrial activity in Greek

regions in order to assess current investment patterns. For this purpose, we estimate a

conditional logit model of 226 new established firms for 1996 and 1997. Results give

interesting insights that are likely of particular importance to regional policy makers.

Noteworthy is the spatial concentration of firms in different prefectures while the large

metropolitan cities, Athens and Thessalonica, although with declining shares, prevail as

the dominant hosts. European regional policy seems to enhance firms? entry via its effect

on economic development variables, in contrast with the Greek Development Law, which

turns out non-influential.