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Threats, chances and opportunities: social capital in Europe in times of social and economic hardship

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  • Peter Obert
  • Yannis Theocharis
  • Jan W. van Deth

Abstract

The 2008 financial and economic crisis, characterized by an economic breakdown unparalleled since the Great Depression, provides a unique opportunity to study the relationships between economic developments and social capital by asking: How does social capital change in times of social and economic hardship? In order to explore the trends of social capital development, data from the European Social Survey 2002–2016 are used. The results suggest that economic decline – particularly increasing unemployment – is associated with a decline in social capital, especially in southern European countries. Furthermore, increasing long-term interest rates as an indicator of government future debt sustainability appear to be detrimental for social capital development. The impact of economic decline, however, appears to be contingent upon the functioning of state institutions: especially in countries characterized by well-functioning governments social capital is significantly less affected by economic decline than other countries.

Suggested Citation

  • Peter Obert & Yannis Theocharis & Jan W. van Deth, 2019. "Threats, chances and opportunities: social capital in Europe in times of social and economic hardship," Policy Studies, Taylor & Francis Journals, vol. 40(1), pages 21-39, January.
    • Handle: RePEc:taf:cposxx:v:40:y:2019:i:1:p:21-39
    DOI: 10.1080/01442872.2018.1533109
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    Cited by:

    1. Alex Andrione‐Moylan & Pieter de Wilde & Kolja Raube, 2023. "Varieties of EU trade politicisation in EU public debates," Global Policy, London School of Economics and Political Science, vol. 14(S3), pages 19-29, July.

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