European capitals of culture and life satisfaction
This paper analyzes whether hosting the most prestigious European cultural event, the European Capital of Culture, has an impact on regional economic development or the life satisfaction of the local population. Concerning the economic impact, we show that European Capitals are hosted in regions with above average GDP per capita, but do not causally affect the economic development in a significant way. Even a positive impact on GDP per capita would not imply a positive impact on individual utility or social welfare of the regional population. Surprisingly, using difference-in-difference estimations, a negative effect on the well-being of the regional population is found during the event. Since no effect is found before the event, reverse causality and positive anticipation can be ruled out. The negative effect during the event might result from dissatisfaction with the high levels of public expenditure, transport disruptions, general overcrowding or an increase in housing prices.
|Date of creation:||Apr 2013|
|Date of revision:|
|Contact details of provider:|| Postal: Schönberggasse 1, CH-8001 Zürich|
Phone: +41-1-634 21 37
Fax: +41-1-634 49 82
Web page: http://www.econ.uzh.ch/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ada Ferrer-i-Carbonell & Paul Frijters, 2002.
"How important is Methodology for the Estimates of the Determinants of Happiness?,"
Tinbergen Institute Discussion Papers
02-024/3, Tinbergen Institute.
- Ada Ferrer-i-Carbonell & Paul Frijters, 2004. "How Important is Methodology for the estimates of the determinants of Happiness?," Economic Journal, Royal Economic Society, vol. 114(497), pages 641-659, 07.
- Greg Richards & Julie Wilson, 2004. "The Impact of Cultural Events on City Image: Rotterdam, Cultural Capital of Europe 2001," Urban Studies, Urban Studies Journal Limited, vol. 41(10), pages 1931-1951, September.
- Dennis Coates & Brad R. Humphreys, 2006.
"The Effect of Professional Sports on the Earnings of Individuals: Evidence from Microeconomic Data,"
0612, International Association of Sports Economists;North American Association of Sports Economists.
- Dennis Coates & Brad Humphreys, 2011. "The effect of professional sports on the earnings of individuals: evidence from microeconomic data," Applied Economics, Taylor & Francis Journals, vol. 43(29), pages 4449-4459.
- Shogren, Jason F. & Seung Y. Shin & Dermot J. Hayes & James B. Kliebenstein, 1994.
"Resolving Differences in Willingness to Pay and Willingness to Accept,"
American Economic Review,
American Economic Association, vol. 84(1), pages 255-70, March.
- Shogren, Jason F. & Shin, Seung Youll & Hayes, Dermot J. & Kliebenstein, James, 1994. "Resolving Differences in Willingness to Pay and Willingness to Accept," Staff General Research Papers Archive 701, Iowa State University, Department of Economics.
- John Siegfried & Andrew Zimbalist, 2002. "A Note on the Local Economic Impact of Sports Expenditures," Journal of Sports Economics, The North American Association of Sports Economists, vol. 3(4), pages 361-366, November.
- Kavetsos, Georgios & Szymanski, Stefan, 2010.
"National well-being and international sports events,"
Journal of Economic Psychology,
Elsevier, vol. 31(2), pages 158-171, April.
- Georgios Kavetsos & Stefan Szymanski, 2008. "National Wellbeing and International Sports Events," Working Papers 0804, International Association of Sports Economists;North American Association of Sports Economists.
- Victor Matheson, 2006.
"Mega-Events: The effect of the world’s biggest sporting events on local, regional, and national economies,"
0622, International Association of Sports Economists;North American Association of Sports Economists.
- Victor Matheson, 2006. "Mega-Events: The effect of the world’s biggest sporting events on local, regional, and national economies," Working Papers 0610, College of the Holy Cross, Department of Economics.
- Barro, R.J., 1989.
"Economic Growth In A Cross Section Of Countries,"
RCER Working Papers
201, University of Rochester - Center for Economic Research (RCER).
- Bruno S. Frey & Alois Stutzer, 2002.
"What Can Economists Learn from Happiness Research?,"
Journal of Economic Literature,
American Economic Association, vol. 40(2), pages 402-435, June.
- Bruno S. Frey & Alois Stutzer, 2001. "What Can Economists Learn from Happiness Research?," CESifo Working Paper Series 503, CESifo Group Munich.
- Bruno S. Frey & Alois Stutzer, . "What can Economists Learn from Happiness Research?," IEW - Working Papers 080, Institute for Empirical Research in Economics - University of Zurich.
- Andy Thornley, 2002. "Urban Regeneration and Sports Stadia," European Planning Studies, Taylor & Francis Journals, vol. 10(7), pages 813-818, October.
When requesting a correction, please mention this item's handle: RePEc:zur:econwp:117. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marita Kieser)
If references are entirely missing, you can add them using this form.