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Over the past two and a half decades, the post-socialist countries of Central and Eastern Europe, including Hungary, have become an integral part of the global economy. Following the change of regime, the rate of foreign direct investment increased, modern industries emerged and exports became significant. However, this process was halted by the global economic crisis in many advanced and transition economies, and the concept of 'reindustrialization' emerged as one of the economic policy responses to the new challenges generated by the crisis. In our paper, we study whether reindustrialization is present following the lowest point of the crisis in one of the post-socialist countries of the EU, in Hungary. If so, in which regions and industries, and under what conditions? Our research indicates that reindustrialization can be generally observed only in a few rural regions after 2009, limited to only one or two industries, while, for instance, in the capital and in its agglomerations and in urban regions with large research universities, deindustrialization is more likely to take place. [ABSTRACT FROM AUTHOR]

In recent years, economic resilience has become a popular term in both theory and policy practice. This interest was triggered by the fact that some regional economies were extremely vulnerable, while others have managed to overcome, more or less effectively, the worse consequences of the current economic crisis. Within this context, questions arise regarding the role that policies at both the national and subnational levels can play in shaping regional economic resilience. Although high in the academic and political agenda, understanding the policy and governance aspects of resilience still remains a relatively underdeveloped area. The paper contributes to this debate focusing on an area which has been most severely hit by crises, the Region of West Macedonia, in Greece. The case study builds on the historical trajectory of the region in order to explain how different types of policies have influenced the ability of West Macedonia to respond to economic slumps and crises of the last 30 years. Evidence suggests that national protectionist policies largely explain not only resilience of the region against previous crises, but also its vulnerability towards the still ongoing economic crisis. [ABSTRACT FROM AUTHOR]