Not logged in.

Contribution Details

Type Working Paper
Scope Discipline-based scholarship
Title European capitals of culture and life satisfaction
Organization Unit
  • Lasse Steiner
  • Bruno Frey
  • Simone Hotz
  • English
Institution University of Zurich
Series Name Working paper series / Department of Economics
Number 117
ISSN 1664-7041
Number of Pages 45
Date 2013
Abstract Text This paper analyzes whether hosting the most prestigious European cultural event, the European Capital of Culture, has an impact on regional economic development or the life satisfaction of the local population. Concerning the economic impact, we show that European Capitals are hosted in regions with above average GDP per capita, but do not causally affect the economic development in a significant way. Even a positive impact on GDP per capita would not imply a positive impact on individual utility or social welfare of the regional population. Surprisingly, using difference-in-difference estimations, a negative effect on the well-being of the regional population is found during the event. Since no effect is found before the event, reverse causality and positive anticipation can be ruled out. The negative effect during the event might result from dissatisfaction with the high levels of public expenditure, transport disruptions, general overcrowding or an increase in housing prices.
Official URL
Related URLs
PDF File Download from ZORA
Export BibTeX
Keywords Life satisfaction, mega-events, culture, European Capital of Culture, Zufriedenheit, Regionalentwicklung, Regionale Wirtschaftsentwicklung, Europäische Kulturhauptstadt