Evaluating three decades of the European Capital of Culture programme: a difference-in-differences approach |
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| Authors: | Pedro Gomes Alejandro Librero-Cano |
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| Institution: | 1.Department of Economics,Universidad Carlos III de Madrid,Getafe,Spain;2.Department of Culture Media and Creative Industries,King’s College London,London,UK |
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| Abstract: | We measure the regional impact of the European Capital of Culture programme using a difference-in-differences approach. We compare the regions of cities that hosted the event with the regions of cities that tried to host it but did not succeed. GDP per capita in hosting regions is 4.5 % higher compared to non-hosting regions during the event, and the effect persists more than 5 years after it. This result suggests that the economic dimension of the event is important and supports claims that the event serves as catalyst for urban regeneration and development. |
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