Culture Shocks and Consequences: the connection between the arts and urban economic growth
AbstractIs there a relationship between local arts and culture production and local prosperity that is permanent rather than transitory? The answer to this question determines whether arts and culture production generates economic growth or a temporary `multiplier' effect that diminishes over time. We argue that despite the obvious public policy interest in the subject there has been no fully satisfactory empirical analysis of this question. In this paper we provide a model that allows us to think systematically about the problem and an empirical methodology capable of testing relevant hypotheses concerning possible answers to the question. We identify data to which these methods can be applied, using per capita GDP and expenditure levels of arts and culture production by not-for-profit organizations in US urban areas. Our analysis suggests that the impact of arts and culture production is not transitory. Shocks to local arts and culture production generate impacts that alter the local economy and change steady-state GDP.
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Bibliographic InfoPaper provided by Department of Economics, Williams College in its series Department of Economics Working Papers with number 2012-04.
Length: 32 pages
Date of creation: Apr 2012
Date of revision:
Find related papers by JEL classification:
- Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
- L30 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - General
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Doug Miller & A. Colin Cameron & Jonah B. Gelbach, 2006.
"Bootstrap-Based Improvements for Inference with Clustered Errors,"
621, University of California, Davis, Department of Economics.
- A. Colin Cameron & Jonah B. Gelbach & Douglas L. Miller, 2008. "Bootstrap-Based Improvements for Inference with Clustered Errors," The Review of Economics and Statistics, MIT Press, vol. 90(3), pages 414-427, August.
- A. Colin Cameron & Jonah B. Gelbach & Douglas L. Miller, 2007. "Bootstrap-Based Improvements for Inference with Clustered Errors," NBER Technical Working Papers 0344, National Bureau of Economic Research, Inc.
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