Cultural Heritage led Growth: Regional evidence from Greece (1998-2016)

Ioannis Kostakis, Sarantis Lolos and Charikleia Doulgeraki

MPRA Paper from University Library of Munich, Germany

Abstract: This paper brings empirical evidence on the relationship between cultural heritage assets and economic growth. The case of Greece over the period 1998-2016 is taken as an example. Regional growth is approached through the formulation of a neoclassical growth model augmented with cultural heritage factors. Using panel methods of estimation, the empirical results reveal a positive impact of cultural heritage on regional growth, thus supporting a culture-led growth hypothesis for the Greek economy. In addition, a significant influence of other growth drivers such as physical and human capital, fertility and unemployment on regional growth is evidenced. Our results leave ample room for smart, inclusive and sustainable national, regional and EU policies to operate for the promotion of economic growth.

Keywords: cultural heritage; regional growth; Greece (search for similar items in EconPapers)
JEL-codes: O47 P25 Z1 (search for similar items in EconPapers)
Date: 2020-01
New Economics Papers: this item is included in nep-cul, nep-gro and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:98443

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