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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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  • Maria Llop & Josep-Maria Arauzo-Carod, 2012. "Economic impact of a new museum on the local economy: “the Gaudí Centre”," Letters in Spatial and Resource Sciences, Springer, vol. 5(1), pages 17-23, March.
    • Handle: RePEc:spr:lsprsc:v:5:y:2012:i:1:p:17-23
    DOI: 10.1007/s12076-011-0061-0
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    1. 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;The Association for Cultural Economics International, vol. 24(3), pages 243-255, August.
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    More about this item

    Keywords

    Economic impact; Keynesian income multiplier; Cultural investment; Museum; E12; E23; R11;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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