Andreas Papandreou and Human Capital Formation in Greece

The Center of Economic Research
Papandreou established the Center in 1961 with seed money
from the Ford and Rockefeller Foundations. 3 When the funding
ended, the founder judged it expedient to turn the Center over to
the Academy of Greece, so that it might secure funds and retain
academic independence. In late 1963, the Center received a grant
from the Ministry of Economic Coordination for a study of migration,
and in early 1964, it was acquired by the same agency. 4 The
Center subsequently was renamed Center of Planning and Economic
Research.
Since early 1967, the Center has engaged in considerable writing
in economic planning matters. On the other hand, during
1967-74, publications such as research monographs and training
seminar lectures were placed on the back burner.
When in 1967 a group of colonels seized power in Greece, the
Center's director was replaced by a British-trained economist and
sometime public finance economist, under the Ministry of Coordination.
He was a custodian manager. So were other directors
until early 1994, when Dr. Vasilis Droukopoulos was recruited to
head up the Center. During his three-year tenure, research was
emphasized.
Perhaps it is appropriate at this point to state that Papandreou
recruited researchers for the Center from top universities who, in
turn, brought other people to Greece. Who were the researchers?
Project Directors and Visiting Scholars
During 1961-65, the Center had several scholars in residence
for six-month periods or less who conducted projects that ranged
from economic planning to sector analysis and econometric models.
5 The list of scholars includes:
Andreas Papandreou, George Coutsoumaris, Adamantios
Pepelasis, Pan A. Yotopoulos, Anna Coutsogianni-
Kokkova, Stephen Triantis; Benjamin Ward, Charles
McCorkle, Kenneth Thompson; Daniel Suits, Kenneth
Arrow, Arthur Goldberger, Roy Radner, James Thomas,
Jean Crockett, Emmanuel Drandakis; Christopher
Andreas Papandreou and Human Capital Formation in Greece 41