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Identifying the economic impact behind a cultural asset: an input–output subsystems analysis

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  • Maria Llop
  • Josep-Maria Arauzo-Carod

Abstract

Nowadays, cultural activities are recognised as having a positive impact on regional and local development. In this paper, we analyse the economic impact of a new museum (the Gaudí Centre) on the regional economy by quantifying the amount of new productive income and new employment it has created. As far as we know, this is the first study to analyse the economic impact of a museum in quantitative terms by using an input–output subsystem analysis in which we differentiate the service sectors, which are closely connected to the museum’s direct demand, from the non-service activities, which are not so closely connected. Our results show that the museum has a considerable impact on the regional economy and suggest that cultural investments can play a role in income generation that goes beyond that of mere cultural activities. Copyright Springer-Verlag 2012

Suggested Citation

  • Maria Llop & Josep-Maria Arauzo-Carod, 2012. "Identifying the economic impact behind a cultural asset: an input–output subsystems analysis," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 49(3), pages 861-877, December.
    • Handle: RePEc:spr:anresc:v:49:y:2012:i:3:p:861-877
    DOI: 10.1007/s00168-011-0464-2
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    3. Jingjing Liu & Jamie M. Chen & Peter Nijkamp & James F. Petrick, 2023. "Threshold effect of tourism density on urban livability: a modeling study on Chinese cities," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 70(1), pages 315-331, February.

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    More about this item

    Keywords

    E12; E23; R11; Z10;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • Z10 - Other Special Topics - - Cultural Economics - - - General

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