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The phantom of the opera: How the absolutist princes' love of ostentation still ensures flourishing regions today

Author

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  • Oliver Falck
  • Michael Fritsch
  • Stephan Heblich

Abstract

Politicians faced with budget constraints tend to cut spending on culture. This, however, turns out to be misguided and is even counter-productive since attractive cultural offerings increase regional economic growth. A recent study of the Ifo Institute, together with the University of Jena and Stirling University, shows the extent to which cultural offerings make cities and regions more attractive for highly qualified personnel and consequently also lead to higher economic growth in the regions.

Suggested Citation

  • Oliver Falck & Michael Fritsch & Stephan Heblich, 2011. "The phantom of the opera: How the absolutist princes' love of ostentation still ensures flourishing regions today," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64(05), pages 30-35, March.
    • Handle: RePEc:ces:ifosdt:v:64:y:2011:i:05:p:30-35
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    File URL: https://www.ifo.de/DocDL/ifosd_2011_5_2.pdf
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    References listed on IDEAS

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    1. Sascha O. Becker & Ludger Woessmann, 2009. "Was Weber Wrong? A Human Capital Theory of Protestant Economic History," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 124(2), pages 531-596.
    2. Eric A. Hanushek & Ludger Woessmann, 2008. "The Role of Cognitive Skills in Economic Development," Journal of Economic Literature, American Economic Association, vol. 46(3), pages 607-668, September.
    3. Benhabib, Jess & Spiegel, Mark M., 1994. "The role of human capital in economic development evidence from aggregate cross-country data," Journal of Monetary Economics, Elsevier, vol. 34(2), pages 143-173, October.
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    Citations

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    Cited by:

    1. Sujata, Uwe & Weyh, Antje, 2013. "Die sächsische Kultur- und Kreativwirtschaft als Arbeitgeber," IAB-Regional. Berichte und Analysen aus dem Regionalen Forschungsnetz. IAB Sachsen 201301, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    2. Achten-Gozdowski, Jennifer, 2018. "Geschichte und Politökonomie deutscher Theatersubventionen [History and Political Economy of Public Subsidies for German Theatres and Operas]," MPRA Paper 85087, University Library of Munich, Germany.

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    More about this item

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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