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Smart endogenous growth: cultural capital and the creative use of skills

Author

Listed:
  • Alberto Bucci
  • Pier Luigi Sacco
  • Giovanna Segre

Abstract

Purpose - – Despite the growing literature aimed at explaining how cultural and artistic production feeds economic growth, the causal relationships and interplays are not investigated in depth. In the attempt of filling this gap, the purpose of this paper is to examine arts, culture, and education within the framework of the New Growth Theory. Design/methodology/approach - – Starting from the analysis of how culture may be at the root of a specific engine of economic growth, the paper presents a theoretical endogenous growth model driven by the combination of the investments in human and cultural capital. Findings - – The paper shows that cultural investment has a positive impact on economic growth and on the level of income provided that the economy is sufficiently “culture-intensive”, and that this effect is further magnified the more total factor productivity (TFP) is sensitive to the stock of cultural capital. Research limitations/implications - – The paper figures out the possibility of a cultural poverty trap as the cause of poor growth performance of some economies in the current post-industrial scenario. Culturally poor economies tend to grow slowly because of the lack of cultural exposure, which makes TFP poor since human capita is weakly inclined to be used in innovative, flexible ways. Originality/value - – The paper presents a new endogenous growth model. The paper argues that the available endogenous growth models fail to take into account the full set of relevant factors that make endogenous growth possible, and that the missing entry is cultural capital.

Suggested Citation

  • Alberto Bucci & Pier Luigi Sacco & Giovanna Segre, 2014. "Smart endogenous growth: cultural capital and the creative use of skills," International Journal of Manpower, Emerald Group Publishing Limited, vol. 35(1/2), pages 33-55, May.
  • Handle: RePEc:eme:ijmpps:v:35:y:2014:i:1/2:p:33-55
    DOI: 10.1108/IJM-08-2013-0193
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    Citations

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    Cited by:

    1. Annie Tubadji & Peter Nijkamp, 2015. "Cultural impact on regional development: application of a PLS-PM model to Greece," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 54(3), pages 687-720, May.
    2. Jonathan Daniel Gómez-Zapata & Luis César Herrero-Prieto & Beatriz Rodríguez-Prado, 2021. "Does music soothe the soul? Evaluating the impact of a music education programme in Medellin, Colombia," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 45(1), pages 63-104, March.
    3. Luis César Herrero-Prieto & Iván Boal-San Miguel & Mafalda Gómez-Vega, 2019. "Deep-Rooted Culture and Economic Development: Taking the Seven Deadly Sins to Build a Well-Being Composite Indicator," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 144(2), pages 601-624, July.
    4. Brenda Denise Dorpalen, 2022. "How do inequalities in cultural engagement impact on economic growth?," SN Business & Economics, Springer, vol. 2(8), pages 1-23, August.
    5. Andrew Phiri, 2020. "Creative industries and economic performance: Should South Africa go to the movies?," Working Papers 2002, Department of Economics, Nelson Mandela University, revised Jan 2020.
    6. Pier Luigi Sacco & Guido Ferilli & Giorgio Tavano Blessi, 2018. "From Culture 1.0 to Culture 3.0: Three Socio-Technical Regimes of Social and Economic Value Creation through Culture, and Their Impact on European Cohesion Policies," Sustainability, MDPI, vol. 10(11), pages 1-23, October.
    7. Alessandro Crociata & Iacopo Odoardi & Massimiliano Agovino & Pier Luigi Sacco, 2020. "A missing link? Cultural capital as a source of human capital: evidence from Italian regional data," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 64(1), pages 79-109, February.

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