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Cultural Heritage and Growth

Author

Listed:
  • Joao Ricardo Faria
  • Miguel León-Ledesma

    ()

Abstract

In an attempt to measure the impact of cultural heritage on growth, this paper matches the definition of culture as a stock with the cultural heritage list provided by UNESCO, as it is a variable that changes at a very low pace. We test the hypothesis on whether the existence of a strong cultural heritage, that is, where culture has had a large impact on people's life, leads to higher growth. We find evidence that the impact of cultural heritage on growth is positive and it is smaller for countries that either suffer a high degree of political instability or enjoy a high degree of rule of law.

Suggested Citation

  • Joao Ricardo Faria & Miguel León-Ledesma, 2003. "Cultural Heritage and Growth," Studies in Economics 0303, School of Economics, University of Kent.
  • Handle: RePEc:ukc:ukcedp:0303
    as

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    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
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    7. Krishna, Kala & Ozyildirim, Ataman & Swanson, Norman R., 2003. "Trade, investment and growth: nexus, analysis and prognosis," Journal of Development Economics, Elsevier, vol. 70(2), pages 479-499, April.
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    13. Guido Cozzi, 1998. "Culture as a Bubble," Journal of Political Economy, University of Chicago Press, vol. 106(2), pages 376-394, April.
    14. Casson Mark, 1993. "Cultural Determinants of Economic Performance," Journal of Comparative Economics, Elsevier, vol. 17(2), pages 418-442, June.
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    More about this item

    Keywords

    Economic Growth; Social norms; Culture;

    JEL classification:

    • D99 - Microeconomics - - Micro-Based Behavioral Economics - - - Other
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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