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Human and cultural capital complementarities and externalities in economic growth

Author

Listed:
  • Alberto BUCCI
  • Giovanna SEGRE

Abstract

The aim of this paper is to investigate the role of culture, viewed according to Throsby?s definition of cultural capital (that is, an asset of tangible and intangible cultural expressions), in fostering economic growth. Recent literature in the field of cultural economics highlights a possible inversion of the usual causality relation, and culture can be seen as one of the engine of economic wealth. In this article we analyze one possible channel through which it may occur: human capital investment. Using a two-sectors endogenous growth model, the relation between cultural and human capital is deeply investigated.

Suggested Citation

  • Alberto BUCCI & Giovanna SEGRE, 2009. "Human and cultural capital complementarities and externalities in economic growth," Departmental Working Papers 2009-005, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  • Handle: RePEc:mil:wpdepa:2009-005
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    More about this item

    Keywords

    Economic growth; culture; human capital; complementarities; externalities;
    All these keywords.

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • Z10 - Other Special Topics - - Cultural Economics - - - General
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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