TITLE:
Institutionalizing Risk Management in the Public Sector: The Case of Greece
AUTHORS:
Timoleon Papadopoulos
KEYWORDS:
Risk Management, Public Sector, Institutionalization, Governance Reforms, Greece, Administrative Culture
JOURNAL NAME:
Theoretical Economics Letters,
Vol.15 No.4,
August
28,
2025
ABSTRACT: This study explores the institutionalization of risk management practices within the Greek public sector, drawing on a national survey of 378 civil servants. Amid post-crisis governance reforms, Greece presents a compelling context to examine how risk-related processes are adopted and perceived across ministries and state organizations. While public sector risk management has garnered growing international interest, empirical studies remain scarce, especially in southern European administrations. We find limited maturity in formal risk procedures but an emerging awareness among middle- and upper-level officials. The findings contribute to the literature on public governance by highlighting the challenges of embedding risk management practices in hierarchical and legalistic administrative traditions.