ABSTRACT
Several scholars have analysed the role of social capital in the economic development of a country (Miller and Rivera, 2007; Wallimann, 2014; Dudley, 1994; Beugelsdijk and Van Schaik, 2005; Knack and Keefer, 1997). Social capital is a component that enables a community to maintain its well-being, even in conditions of economic recession (Verick, 2009; Dudley, 1994; Putnam et al., 1993). It has also been claimed that high levels of social capital promote economic stability and equality alongside high levels of volunteerism (Liu and Besser, 2003; Casey and Christ, 2005; Helliwell et al., 2014). Apart from the influence of social capital on the economic development of a country, it is also interesting to observe how social capital changes in times of financial crisis. Several authors have revealed the significant impacts of the current recession in Greece (Zavras et al., 2013; Milios and Sotiropoulos, 2010; Verick, 2009). These concern a variety of impacts in the context of the economy, society and the environment (Matsaganis and Leventi, 2011; Declerq et al., 2011; Kouretas and Vlamis, 2010; Mazurek and Mielcova, 2013).
