In general, the answer is "no, you cannot resize DBs at runtime".
There exist some esoteric methods of deleting and creating DBs at runtime (SFC22 and SFC23), but you would have to copy the existing contents of the DB you want to resize to an intermediary buffer. You would only start with this if you have a very specific reason for it.
The simple solution is to size DBs to the maximum that you will possibly need, and then just use the part of what you need at any given time.