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Economic impact of a new museum on the local economy: “the Gaudí Centre”

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  • Maria Llop

    ()

  • Josep-Maria Arauzo-Carod

Abstract

In this paper we analyse the economic impact of a new museum (the Gaudí Centre) on the local economy of Reus, a city in the province of Tarragona (southern Catalonia). We use a Keynesian income multiplier model to evaluate the effects of this new cultural venue on local income. In our calculation of the economic impact we distinguish between two phases: the construction phase and the exploitation phase. Our results show the important income impact of this cultural investment on the local economy.

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File URL: http://hdl.handle.net/10.1007/s12076-011-0061-0
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Bibliographic Info

Article provided by Springer in its journal Letters in Spatial and Resource Sciences.

Volume (Year): 5 (2012)
Issue (Month): 1 (March)
Pages: 17-23

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Handle: RePEc:spr:lsprsc:v:5:y:2012:i:1:p:17-23

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Web page: http://www.springer.com/economics/journal/12076

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Related research

Keywords: Economic impact; Keynesian income multiplier; Cultural investment; Museum; E12; E23; R11;

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  1. Peter Johnson & Barry Thomas, 1998. "The Economics of Museums: A Research Perspective," Journal of Cultural Economics, Springer, vol. 22(2), pages 75-85, June.
  2. Ricardo Gazel & R. Schwer, 1997. "Beyond Rock and Roll: The Economic Impact of the Grateful Dead on a Local Economy," Journal of Cultural Economics, Springer, vol. 21(1), pages 41-55, March.
  3. Dick Stanley & Judy Rogers & Sandra Smeltzer & Luc Perron, 2000. "Win, Place or Show: Gauging the Economic Success of the Renoir and Barnes Art Exhibits," Journal of Cultural Economics, Springer, vol. 24(3), pages 243-255, August.
  4. McGuire, Alistair J, 1983. "The Regional Income and Employment Impacts of Nuclear Power Stations," Scottish Journal of Political Economy, Scottish Economic Society, vol. 30(3), pages 264-74, November.
  5. Jolanta Dziembowska-Kowalska & Rolf H. Funck, 2000. "Cultural activities as a location factor in European competition between regions: Concepts and some evidence," The Annals of Regional Science, Springer, vol. 34(1), pages 1-12.
  6. Brownrigg, Mark, 1971. "The Regional Income Multiplier: An Attempt to Complete the Model," Scottish Journal of Political Economy, Scottish Economic Society, vol. 18(3), pages 281-97, November.
  7. Sarah Skinner, 2006. "Estimating the real growth effects of blockbuster art exhibits: A time series approach," Journal of Cultural Economics, Springer, vol. 30(2), pages 109-125, September.
  8. Bruno Frey, 1998. "Superstar Museums: An Economic Analysis," Journal of Cultural Economics, Springer, vol. 22(2), pages 113-125, June.
  9. Beatriz Plaza, 2006. "The Return on Investment of the Guggenheim Museum Bilbao," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 30(2), pages 452-467, 06.
  10. Greig, Michael A, 1971. "The Regional Income and Employment Multiplier Effects of a Pulp Mill and Paper Mill," Scottish Journal of Political Economy, Scottish Economic Society, vol. 18(1), pages 31-48, February.
  11. Eric Thompson & Mark Berger & Glenn Blomquist & Steven Allen, 2002. "Valuing the Arts: A Contingent Valuation Approach," Journal of Cultural Economics, Springer, vol. 26(2), pages 87-113, May.
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