Cultural Capital And Regional Economic Growth

The practice of the new economic development model has proved that themulti-disciplinary theory has more persuasion to explain and support thedevelopment of the real economy. With the gradual enhancement of soft powercompetition between countries or regions, the concept of cultural capital has beenwidely accepted in academic circles, and to study its effect on the enterprise,regional, national and global economy. Cultural capital has become anotherimportant variable after physical capital, human capital to explain the regionaleconomic growth, and its impact on regional economic growth mainly along twopaths in the deepening and expansion.As the cultural capital and the economic growth of the relationship among theregions in China, this paper firstly based on existing research literature, in referenceto domestic and foreign scholars on the basis of the definition of cultural capital, toredefine cultural capital and performance form. Secondly,according to culturalindicators of different institutions as well as cultural capital stock estimate index ofdomestic scholars, designed a set of cultural capital stock estimate index systemsuitable to China’s national conditions, and the inter-provincial cultural capital stockis calculated by using analytic hierarchy process. Once again, analyzed the impact ofcultural capital mechanism and path of economic growth. The operation of culturalcapital through the rational allocation of cultural resources, to promotetransformation of growth pattern promote the of growth pattern; the entrepreneurialspirit covered in the cultural capital is the fundamental driving force for economicgrowth;the characteristics of increasing marginal returns also promotes economic growth.Finally Finally focus on cultural capital make an empirical analysis of theimpact on regional economy, the cultural capital into the c-d production function,through the fixed effect model of panel data, get the output elasticity of culturalcapital on regional economic growth is0.1719, the contribution rate to economicgrowth is12.18%. Based on the analysis, put forward relevant policy suggestions, topromote the investment and the accumulation of cultural capital.