European capitals of culture and life satisfaction
AbstractThis paper analyzes whether hosting the most prestigious European cultural event, the European Capital of Culture, has an impact on regional economic development or the life satisfaction of the local population. Concerning the economic impact, we show that European Capitals are hosted in regions with above average GDP per capita, but do not causally affect the economic development in a significant way. Even a positive impact on GDP per capita would not imply a positive impact on individual utility or social welfare of the regional population. Surprisingly, using difference-in-difference estimations, a negative effect on the well-being of the regional population is found during the event. Since no effect is found before the event, reverse causality and positive anticipation can be ruled out. The negative effect during the event might result from dissatisfaction with the high levels of public expenditure, transport disruptions, general overcrowding or an increase in housing prices.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Department of Economics - University of Zurich in its series ECON - Working Papers with number 117.
Date of creation: Apr 2013
Date of revision:
Life Satisfaction; mega-events; culture; european capital of culture;
Other versions of this item:
- Lasse Steiner & Bruno S. Frey & Simone Hotz, 2013. "European Capitals of Culture and Life Satisfaction," CREMA Working Paper Series 2013-07, Center for Research in Economics, Management and the Arts (CREMA).
- H40 - Public Economics - - Publicly Provided Goods - - - General
- H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
- R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
- Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
- Z18 - Other Special Topics - - Cultural Economics - - - Public Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-04-20 (All new papers)
- NEP-CUL-2013-04-20 (Cultural Economics)
- NEP-EUR-2013-04-20 (Microeconomic European Issues)
- NEP-HAP-2013-04-20 (Economics of Happiness)
- NEP-TUR-2013-04-20 (Tourism Economics)
- NEP-URE-2013-04-20 (Urban & Real Estate Economics)
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.:
- John Siegfried & Andrew Zimbalist, 2002. "A Note on the Local Economic Impact of Sports Expenditures," Journal of Sports Economics, , vol. 3(4), pages 361-366, November.
- Shogren, Jason F. & Seung Y. Shin & Dermot J. Hayes & James B. Kliebenstein, 1994.
"Resolving Differences in Willingness to Pay and Willingness to Accept,"
American Economic Review,
American Economic Association, vol. 84(1), pages 255-70, March.
- Shogren, Jason F. & Shin, Seung Youll & Hayes, Dermot J. & Kliebenstein, James, 1994. "Resolving Differences in Willingness to Pay and Willingness to Accept," Staff General Research Papers 701, Iowa State University, Department of Economics.
- Dennis Coates & Brad Humphreys, 2011.
"The effect of professional sports on the earnings of individuals: evidence from microeconomic data,"
Taylor and Francis Journals, vol. 43(29), pages 4449-4459.
- Dennis Coates & Brad R. Humphreys, 2006. "The Effect of Professional Sports on the Earnings of Individuals: Evidence from Microeconomic Data," Working Papers 0612, International Association of Sports Economists & North American Association of Sports Economists.
- Dennis Coates & Brad R. Humphreys, 2003. "The Effect of Professional Sports on the Earnings of Individuals: Evidence from Microeconomic Data," UMBC Economics Department Working Papers 03-104, UMBC Department of Economics.
- Kavetsos, Georgios & Szymanski, Stefan, 2010.
"National well-being and international sports events,"
Journal of Economic Psychology,
Elsevier, vol. 31(2), pages 158-171, April.
- Georgios Kavetsos & Stefan Szymanski, 2008. "National Wellbeing and International Sports Events," Working Papers 0804, International Association of Sports Economists & North American Association of Sports Economists.
- Bruno S. Frey & Alois Stutzer, .
"What can Economists Learn from Happiness Research?,"
IEW - Working Papers
080, Institute for Empirical Research in Economics - University of Zurich.
- Bruno S. Frey & Alois Stutzer, 2002. "What Can Economists Learn from Happiness Research?," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 402-435, June.
- Bruno S. Frey & Alois Stutzer, 2001. "What Can Economists Learn from Happiness Research?," CESifo Working Paper Series 503, CESifo Group Munich.
- Victor Matheson, 2006.
"Mega-Events: The effect of the world’s biggest sporting events on local, regional, and national economies,"
0622, International Association of Sports Economists & North American Association of Sports Economists.
- Victor Matheson, 2006. "Mega-Events: The effect of the world’s biggest sporting events on local, regional, and national economies," Working Papers 0610, College of the Holy Cross, Department of Economics.
- Ada Ferrer-i-Carbonell & Paul Frijters, 2004.
"How Important is Methodology for the estimates of the determinants of Happiness?,"
Royal Economic Society, vol. 114(497), pages 641-659, 07.
- Ada Ferrer-i-Carbonell & Paul Frijters, 2002. "How important is Methodology for the Estimates of the Determinants of Happiness?," Tinbergen Institute Discussion Papers 02-024/3, Tinbergen Institute.
- Andy Thornley, 2002. "Urban Regeneration and Sports Stadia," European Planning Studies, Taylor and Francis Journals, vol. 10(7), pages 813-818, October.
- Robert J. Barro, 1991.
"Economic Growth in a Cross Section of Countries,"
NBER Working Papers
3120, National Bureau of Economic Research, Inc.
Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- European Capitals of Culture and Life Satisfaction
by maximorossi in NEP-LTV blog on 2013-09-25 12:14:36
- Piper, Alan T., 2013. "Europe’s capital cities and the happiness penalty: an investigation using the European Social Survey," MPRA Paper 47793, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marita Kieser).
If references are entirely missing, you can add them using this form.