School of Economics

2003 Discussion Papers

School of Economics Discussion Paper 03/03
October 2003

Cultural Heritage and Growth
João Ricardo Faria and Miguel León-Ledesma

School of Economics
University of Kent at Canterbury

Abstract

In an attempt to measure the impact of cultural heritage on growth, this paper matches the definition of culture as a stock with the cultural heritage list provided by UNESCO, as it is a variable that changes at a very low pace. 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.

JEL Classification: D99, O50, Z13

Keywords: Economic Growth; Social norms; Culture

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