The Athenian Economy in the Age of Demosthenes, European Journal of Law and Economics 29: 255-277(2010). In common with Ν. Κυyriazis

The Athenian Economy in the Age of Demosthenes, European Journal of Law and Economics 29: 255-277. (SCOPUS, EconLit, ISI Listed. Impact factor: 0.225 and 5-year: 0.419). In common with Ν. Κyriazis (2010).

In this paper, we formulate for the first time the Persian-Athenian conflict of the 5th century as a signaling game. A specific approach of path dependence and regime change is presented. Following the successful outcome for Athens, it was transformed into a seapower. This again resulted in the fourth century into an unparalleled change of the Athenian economy, which shows a number of characteristics that makes us call it the first “modern” economy. We analyze the sectorial structure of the Athenian economy, its trade pattern, contribution to employment/GDP, tax system, banking and services and the emergence of new organization forms like private banks, joint-stock companies and offshore services.

JEL Classification: K00, N00, N01, N13