CULTURAL HERITAGE AND GROWTH

João Ricardo Faria, Miguel León-Ledesma

Resumo


This paper matches the definition of culture as a stock, since it is a variable that changes with a very low pace, with the cultural heritage list provided by UNESCO. 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.


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