The Relationship between Cultural Capital and Economic Growth in China ——An Empirical Research Based on PIM Capital Stock Estimates and Cointegration Analysis

摘要：

The relationship between cultural investment and economic growth is a hot spot of economic research. In recent years, many scholars have tried to explain the mechanism that how the cultural capital promotes economic growth in the framework of capital theory. However, there has been no convincing empirical research. This paper applies the Perpetual Inventory Method to estimating the cultural capital stock for the years 1978-2008 in China, and looks into the relationship between Chinas cultural capital and economic growth with cointegration analysis and Granger causality test methods. The empirical results show that there is a fluctuated relationship between Chinas cultural capital and economic growth in short term, and an equilibrium relationship in the long run. When the cultural capital stock increases by 1%, GDP will increase 0.71%.

作者: WANG Yun LONG Zhihe

作者单位: School of Business Administration South China University of Technology GuangZhou, P.R.China, 510640 School of Economics and Commerce South China University of Technology GuangZhou, P.R.China, 510006

会议类型: 国际会议

会议名称: 4th Conference on System Science,Management Science & System Dynamics(第四届系统科学、管理科学&系统动力学国际会议)

会议地点: 上海

会议语种:英文

页码: 91-99

在线出版日期: 2010-12-10（万方平台首次上网日期，不代表论文的发表时间）