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No 2009:121:
Human and Cultural Capital Complementarities and Externalities in Economic Growth
Alberto Bucci
() and
Giovanna Segre
()
Additional contact information
Alberto Bucci: State University of Milan, Postal: Department of Economics, Business and Statistics, State University of Milan, via Conservatorio 7, I-20122 Milan, Italy. Tel.: ++39-(0)2-50321.463; Fax: ++39-(0)2-50321.505
Giovanna Segre: University of Turin, Postal: School of Economics, Department of Economics and Public Finance “G. Prato”,, University of Turin, Corso Unione Sovietica 218-bis, 10134 Turin, Italy. Tel.: ++39-(0)11-6706089; Fax: ++39-, (0)11-6706062
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.
Keywords: Economic growth; culture; human capital; complementarities; externalities
Language: English
26 pages, 2009
Note: Available online at: http://www.economia.unimi.it/uploads/wp/Deas2009_05wp.pdf
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