Social capital and characteristics of economic dualism as determinants of regional resilience

Abstract

ABSTRACT This paper aims to delve into the multidimensionality and complexity of the concept of resilience by exploring two issues. Firstly, it investigates the role of social capital through the social participation and cooperatives in the economic resilience of Greek regions providing novel findings for the social resilience of the country. Secondly, it gains an in-depth understanding about the dualistic nature of resilience as it is related to a dynamic export profile of regions in tandem with one that is more traditional or less exposed to the market. This raises questions about the risk of specific regions being trapped in a protective environment providing policy implications. The measurement of the resilience capability of regions is based on both the time of exposure and the intensity of distress associating thus the business cycles of regions with their resilience capability. Additionally, the analysis studies the full period of recession and recovery, which lasted until the next crisis began (COVID-19 pandemic), allowing the investigation of the configurations formed and of the existence of different stages inside the recovery period.