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Cultural investment, local development and instantaneous social capital: A case study of a gathering festival in the South of Italy

Author

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  • Attanasi, Giuseppe Marco
  • Casoria, Fortuna
  • Centorrino, Samuele
  • Urso, Giulia

Abstract

In this paper we show how the investment in cultural events may encourage the building of social capital and foster the development of local communities. We rely on a casestudy that we conducted about the socio-economic impact of the Festival “La Notte della Taranta”, the most important European music festival dedicated to traditional music (about 170.000 participants per year), on the sub-region of southern Italy where it is held. Our evidence is based on a large survey, consisting of nearly 10.000 interviews to Festival participants over a span of five editions (2007-2011). A primary result is that the initial economic investment in the Festival has brought a short-term return in terms of touristic attraction worth more than two times as much. More importantly, our results indicate that a cultural festival, despite being a mass gathering, is able to create strong bonds among its participants and between them and the area where the event takes place. Although these bonds are “instantaneous”, i.e. temporally restricted to the duration of the event, they are positively correlated with the economic impact of the event on the territory.

Suggested Citation

  • Attanasi, Giuseppe Marco & Casoria, Fortuna & Centorrino, Samuele & Urso, Giulia, 2012. "Cultural investment, local development and instantaneous social capital: A case study of a gathering festival in the South of Italy," TSE Working Papers 12-291, Toulouse School of Economics (TSE).
  • Handle: RePEc:tse:wpaper:25758
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    References listed on IDEAS

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    Cited by:

    1. Carlos Augusto Olarte Bacares, 2014. "Are public transport improvements endogenous with respect to employment and income location in a city?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00973398, HAL.
    2. Giuseppe Attanasi & Nikolaos Georgantzís & Valentina Rotondi & Daria Vigani, 2016. "Lottery- and survey-based risk attitudes linked through a multichoice elicitation task," Working Papers of BETA 2016-24, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    3. Yolal, Medet & Gursoy, Dogan & Uysal, Muzaffer & Kim, Hyelin (Lina) & Karacaoğlu, Sıla, 2016. "Impacts of festivals and events on residents’ well-being," Annals of Tourism Research, Elsevier, vol. 61(C), pages 1-18.
    4. repec:blg:reveco:v:69:y:2017:i:6:p:120-127 is not listed on IDEAS
    5. Carlos Augusto Olarte Bacares, 2013. "Do public transport improvements increase employment and income in a city?," ERSA conference papers ersa13p1040, European Regional Science Association.
    6. Adina Letiţia Negruşa & Valentin Toader & Rozalia Veronica Rus & Smaranda Adina Cosma, 2016. "Study of Perceptions on Cultural Events’ Sustainability," Sustainability, MDPI, Open Access Journal, vol. 8(12), pages 1-17, December.
    7. Lorna Zischka, 2016. "The Interaction between Prosocial (Giving) Behaviours and Social Cohesion," Economics & Management Discussion Papers em-dp2016-07, Henley Business School, Reading University.
    8. Giuseppe Attanasi & Hana Cosic & Francesco Passarelli & Giulia Urso, 2016. "Privatization of a tourism event: Do attendees perceive it as a risky cultural lottery?," Working Papers of BETA 2016-26, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.

    More about this item

    Keywords

    Cultural event; economic impact; social capital; greatly motivated tourist;

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • Z10 - Other Special Topics - - Cultural Economics - - - General

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