The Culture Trade Balance during Financial Crisis the Case of Greece

This work presents the relationship between the sectorial trade balance and its relationship to the financial crisis hit severe Eurozone and especially Greece. The country has a long history both on culture and economic crises introducing this term in anciency. We deployed a bunch of six explanatory variables related to the balance of payments especially on productivity and economic freedom terms as long with contagion and possible GNP spending applying the robust least squares analysis to an industry balance. The results show that the crisis in or at related countries seem to have positive effect and Productivity related variables have negative. Cultural spending on GDP share has also positive effect. JEL CODES: Z 100, J 640, F 660