The paper aims at testing Florida's concept of the Creative Class using panel data for 323 West German regions for the time period 1975 – 2004. Applying a dynamic system approach based on GMM, we find that the local concentration of the Creative Class has predictive power for the economic development of a region and tends to outperform traditional indicators of human capital. However, our results do not support Florida's assertion that the creative workers flock where the Bohemians are. According to our findings, the Creative Class is attracted by favorable economic conditions as indicated by employment growth or an increasing wage bill. --
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Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number
08-135.
Find related papers by JEL classification: Z10 - Other Special Topics - - Cultural Economics - - - General O1 - Economic Development, Technological Change, and Growth - - Economic Development R1 - Urban, Rural, and Regional Economics - - General Regional Economics C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data O3 - Economic Development, Technological Change, and Growth - - Technological Change
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