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The asymmetrical impact of the economic crisis on unemployment and welfare in Greek urban economies

Author

Listed:
  • Theodosios Palaskas
  • Yannis Psycharis
  • Antonis Rovolis
  • Chrysostomos Stoforos

Abstract

The article analyses the impact of the ongoing economic crisis on Greek urban economies. Utilizing a dataset of socio-economic, demographic and policy variables at the municipal level and applying spatial econometric techniques, it provides strong statistical evidence of heterogeneous effects on regional-municipal labour markets and welfare with the cities/municipalities that performed best in the pre-crisis period suffering more than the lagging municipalities and with urban agglomerations more vulnerable to crisis, thus questioning the length of bottoming. However, exogenously set variables, tourism and policy related, the inherent features of urban economies, such as the specialization of industry, and their inter-linkages with their peri-rural municipalities, act as stabilizers that ease the crisis effects and may support recovery. Fiscal policy has been cyclical to the economic downturn. The findings have substantial policy implications for crisis management, recovery policy measures and the country's cohesion.

Suggested Citation

  • Theodosios Palaskas & Yannis Psycharis & Antonis Rovolis & Chrysostomos Stoforos, 2015. "The asymmetrical impact of the economic crisis on unemployment and welfare in Greek urban economies," Journal of Economic Geography, Oxford University Press, vol. 15(5), pages 973-1007.
  • Handle: RePEc:oup:jecgeo:v:15:y:2015:i:5:p:973-1007.
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    File URL: http://hdl.handle.net/10.1093/jeg/lbv027
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    Cited by:

    1. Liangang Li & Pingyu Zhang & Xin Li, 2019. "Regional Economic Resilience of the Old Industrial Bases in China—A Case Study of Liaoning Province," Sustainability, MDPI, Open Access Journal, vol. 11(3), pages 1-14, January.
    2. Luca Salvati, 2016. "The Dark Side of the Crisis: Disparities in per Capita income (2000–12) and the Urban-Rural Gradient in Greece," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 107(5), pages 628-641, December.
    3. Gianpaolo Basile & Aurora Cavallo, 2020. "Rural Identity, Authenticity, and Sustainability in Italian Inner Areas," Sustainability, MDPI, Open Access Journal, vol. 12(3), pages 1-22, February.
    4. Giovanni Marin & Marco Modica, 2019. "The Survival of Italian Individual Firms to Local Demand Shocks During the Great Recession," SEEDS Working Papers 0119, SEEDS, Sustainability Environmental Economics and Dynamics Studies, revised Jan 2019.
    5. Ugo Fratesi & Giovanni Perucca, 2018. "Territorial capital and the resilience of European regions," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 60(2), pages 241-264, March.
    6. Sébastien BOURDIN, 2018. "Géographie de la résilience des régions européennes face à la crise (2008-2013)," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 48, pages 53-70.
    7. Adelheid Holl, 2018. "Local employment growth patterns and the Great Recession: The case of Spain," Journal of Regional Science, Wiley Blackwell, vol. 58(4), pages 837-863, September.
    8. Giulia Urso & Marco Modica & Alessandra Faggian, 2019. "Resilience and Sectoral Composition Change of Italian Inner Areas in Response to the Great Recession," Sustainability, MDPI, Open Access Journal, vol. 11(9), pages 1-15, May.
    9. Giulio Cainelli & Roberto Ganau & Marco Modica, 2019. "Industrial relatedness and regional resilience in the European Union," Papers in Regional Science, Wiley Blackwell, vol. 98(2), pages 755-778, April.
    10. Susan Christopherson & Gordon L. Clark & John Whiteman, 2015. "Introduction: the Euro crisis and the future of Europe," Journal of Economic Geography, Oxford University Press, vol. 15(5), pages 843-853.

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