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Assessing the Agricultural Sector’s Resilience to the 2008 Economic Crisis: The Case of Greece

Author

Listed:
  • Labros Sdrolias

    (Department of Agricultural Economics, School of Agriculture, Aristotle University of Thessaloniki, 54124 Thessaloniki, Greece)

  • Anastasios Semos

    (Department of Agricultural Economics, School of Agriculture, Aristotle University of Thessaloniki, 54124 Thessaloniki, Greece)

  • Konstantinos Mattas

    (Department of Agricultural Economics, School of Agriculture, Aristotle University of Thessaloniki, 54124 Thessaloniki, Greece)

  • Efthimia Tsakiridou

    (Department of Agricultural Economics, School of Agriculture, Aristotle University of Thessaloniki, 54124 Thessaloniki, Greece)

  • Anastasios Michailides

    (Department of Agricultural Economics, School of Agriculture, Aristotle University of Thessaloniki, 54124 Thessaloniki, Greece)

  • Maria Partalidou

    (Department of Agricultural Economics, School of Agriculture, Aristotle University of Thessaloniki, 54124 Thessaloniki, Greece)

  • Dimitrios Tsiotas

    (Department of Regional and Economic Development, Agricultural University of Athens, 33100 Amfissa, Greece)

Abstract

This paper studies the resilience of the agricultural sector compared to eight other sectors of the Greek economy. The analysis is based on a multilevel methodological framework aiming to integrate equilibrium and evolutionary approaches by incorporating temporal (recovery and adaptability), geographical (regional resilience), and sectorial (industrial resilience) aspects, quantified concerning the 2008 economic crisis. Within this composite context, resilience is measured on GVA data according to a dual-axis: horizontally, in terms of measuring the recovering time or the time of transition to a new state of functionality due to a shock, and vertically, in terms of capturing the variability caused by the shock, approximating the system’s adaptability. The analysis shows that the agricultural sector in Greece is generally resilient; although, it has not retained its pre-crisis maximum performance, and it has the smallest Gross Value Added magnitude and the most uneven distribution across the regional dimension. Overall, the analysis promotes the methodological conceptualization of regional resilience and provides insights into the case study of the structural analysis of the Greek rural economy.

Suggested Citation

  • Labros Sdrolias & Anastasios Semos & Konstantinos Mattas & Efthimia Tsakiridou & Anastasios Michailides & Maria Partalidou & Dimitrios Tsiotas, 2022. "Assessing the Agricultural Sector’s Resilience to the 2008 Economic Crisis: The Case of Greece," Agriculture, MDPI, vol. 12(2), pages 1-29, January.
    • Handle: RePEc:gam:jagris:v:12:y:2022:i:2:p:174-:d:734505
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    References listed on IDEAS

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    1. Loizou, Efstratios & Karelakis, Christos & Galanopoulos, Konstantinos & Mattas, Konstadinos, 2019. "The role of agriculture as a development tool for a regional economy," Agricultural Systems, Elsevier, vol. 173(C), pages 482-490.
    2. Xavier Irz & Lin Lin & Colin Thirtle & Steve Wiggins, 2001. "Agricultural Productivity Growth and Poverty Alleviation," Development Policy Review, Overseas Development Institute, vol. 19(4), pages 449-466, December.
    3. Artiom Volkov & Agnė Žičkienė & Mangirdas Morkunas & Tomas Baležentis & Erika Ribašauskienė & Dalia Streimikiene, 2021. "A Multi-Criteria Approach for Assessing the Economic Resilience of Agriculture: The Case of Lithuania," Sustainability, MDPI, vol. 13(4), pages 1-16, February.
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    Cited by:

    1. Hui Zhang & Jing Li & Tianshu Quan, 2023. "Strengthening or Weakening: The Impact of an Aging Rural Workforce on Agricultural Economic Resilience in China," Agriculture, MDPI, vol. 13(7), pages 1-16, July.
    2. George Malindretos & Eleni Sardianou & Maria Briana, 2023. "Farmers’ Perception on Contract Farming in the Post-COVID Era: Empirical Study in Greece," Sustainability, MDPI, vol. 15(20), pages 1-14, October.
    3. Evagelia Koutridi & Dimitrios Tsiotas & Olga Christopoulou, 2023. "Examining the Spatial Effect of “Smartness” on the Relationship between Agriculture and Regional Development: The Case of Greece," Land, MDPI, vol. 12(3), pages 1-22, February.
    4. Stavros Kalogiannidis & Christina-Ioanna Papadopoulou & Efstratios Loizou & Fotios Chatzitheodoridis, 2023. "Risk, Vulnerability, and Resilience in Agriculture and Their Impact on Sustainable Rural Economy Development: A Case Study of Greece," Agriculture, MDPI, vol. 13(6), pages 1-20, June.

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