Human and cultural capital complementarities and externalities in economic growth
AbstractThe aim of this paper is to investigate the role of culture, viewed according to Throsby’s definition of cultural capital (that is, an asset of tangible and intangible cultural expressions), in fostering economic growth. Recent literature in the field of cultural economics highlights a possible inversion of the usual causality relation, and culture can be seen as one of the engine of economic wealth. In this article we analyze one possible channel through which it may occur: human capital investment. Using a two-sectors endogenous growth model, the relation between cultural and human capital is deeply investigated.
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Bibliographic InfoPaper provided by Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano in its series Departmental Working Papers with number 2009-05.
Date of creation: 07 Feb 2009
Date of revision:
Economic growth; culture; human capital; complementarities; externalities;
Find related papers by JEL classification:
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- Z10 - Other Special Topics - - Cultural Economics - - - General
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-06-17 (All new papers)
- NEP-CUL-2009-06-17 (Cultural Economics)
- NEP-DEV-2009-06-17 (Development)
- NEP-FDG-2009-06-17 (Financial Development & Growth)
- NEP-HRM-2009-06-17 (Human Capital & Human Resource Management)
- NEP-SOC-2009-06-17 (Social Norms & Social Capital)
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