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Abstract
The present study focuses on certain critical aspects of the agricultural modernization,
in the course of implementation of the investment aid scheme in Greece. Although the
investments made under the scheme, contributed to the significant reorganization of the
farms as well as to employment creation, serious deficiencies were detected in the way
the scheme has been designed and implemented: lack of programming logic serving
specific targets and of suitable mechanisms for information and back-up of farmers on
technico-organizational matters, as well as non-incorporation of the principles of programming,
monitoring and assessment. The way the scheme was implemented, exemplifies
the subventionist logic of income assistance, and underlines some standing characteristics
in Greek agricultural policy. Finally, alternative priorities of investment policy
application are examined.