Geographies of crisis in Greece: A social well-being approach |
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| Institution: | 1. Yale University, Box 208281, New Haven, CT 06520-8281, United States;2. Santa Fe Institute, 1399 Hyde Park Road, Santa Fe, NM 87501, United States;3. Columbia University, MC 4438, New York, NY 10027, United States;4. INTECH Investment Management, One Palmer Square, Suite 441, Princeton, NJ 08542, United States;5. University of Minnesota, 224 Church Street SE, Minneapolis, MN 55455, United States;3. Department of Public Economics, University of Barcelona, Spain;4. Barcelona Institute of Economics (IEB), Chair of Energy Sustainability, Spain;5. School of Business and Economics, University of Loughborough, United Kingdom;1. Department of Economics, University of Warwick, United Kingdom;2. Barcelona Institute of Economics (IEB), Chair of Energy Sustainability, Spain;1. Faculty of Finance, Cass Business School, City University, 106 Bunhill Row, London EC1Y 8TZ, UK;2. School of Economics and Finance, Queen Mary, University of London, Mile End Road, London E1 4NS, UK;3. Departament d’Economia Aplicada, Universitat Autònoma de Barcelona, Edifici B, 08193 Bellaterra, Spain;4. Economics and Finance, Brunel University London, West London UB3 3PH, UK;1. School of Environmental Sciences, University of East Anglia, UK;2. School of Geo and Spatial Sciences, North-West University, South Africa;3. Environmental Science, Murdoch University, Australia;4. Department of Geography and Planning, School of Environment and Sustainability, University of Saskatchewan, Canada;5. Integral Sustainability, Australia |
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| Abstract: | The most prominent ‘victim’ of the global financial crisis in 2007/2008 has been Greece, which is, even now, in the middle of an economic and social storm that is threatening its economic and social cohesion and its membership of the Eurozone. Using the social well-being conceptual framework as a benchmark and exploiting the literature of composite indicators, the paper aims to assess and measure the regional impact of the crisis in a systematic and comprehensive way. Differing from most of previous studies, both at national and international levels, this study is based on the assumption that the effects of the crisis go far beyond economics and create a social crisis strongly associated with significant human and social costs that might transform Greece’s regional status and threaten its regional well-being, probably in a very unequal way. The main finding of the analysis is that although all regions were severely affected by the dynamics and intensity of the crisis, some regions were more affected than others, leading to ‘winners’ and ‘losers’. From a policy point of view, the results of this study have serious implications for crisis management, recovery policy actions and a country’s social cohesion, especially in Greece where austerity policy measures not only imposed considerable cutbacks in regional development policies but also ignored the spatial dimension of the crisis. |
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| Keywords: | Economic crisis Greece Regions Social well-being Composite indicators A13 C43 I31 018 R10 R58 |
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