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Yannis Psycharis, Dimitris Kallioras and Panagiotis Pantazis

This chapter sets out to provide empirical evidence regarding the impact of economic crisis on the employment changes in the NUTS III Greek regions, during the period 2008_2012. With the application of trade-adjusted shift-share analysis, the chapter provides additional explanatory evidence on whether openness and trade have affected the resilience of regions. Results indicate that economic crisis has impacted asymmetrically on regional employment losses, leading to a widening of regional employment disparities. Construction and manufacturing have been hit severely by the crisis. Agriculture constitutes a resilient sector, while knowledge- and technology-intensive sectors are also more resilient to crisis. The less well-off regions dependent on more traditional sectors proved to be more resilient. However, trade relations and openness are offering as stabilizers to economic downturn.

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Yannis Psycharis, Maria Tsiapa and Vassilis Tselios

This chapter sets out to examine empirically the contribution of exports to regional resilience by providing empirical evidence from the Greek regions during the period 2008_2012. Exports have been a core subject in regional analysis and are regarded as one of the main drivers of economic performance of the regions. However, the role of exports during economic recessions has attracted relatively less attention in the literature. This chapter provides empirical evidence from Greece highlighting that exports constitute one of the factors shaping regional resilience during the economic crisis. However, initial conditions, sectoral specialization and adaptation capacity of the regions also play a critical role in influencing export performance and hence the resilience of regions to crisis.