Economic growth and the arts: A macroeconomic study

Abstract

Arts proponents frequently argue that the arts have a positive impact on the economy, yet this assertion is not supported by satisfactory statistical testing. Using the U.S. Gross Domestic Product (GDP) and National Arts Index (NAI), this study seeks to verify the contention that arts activities enhance economic growth. The test results signify, at the national level, a positive correlation between arts activities and economic growth in the U.S. between 2002 and 2013. However, the results do not yield strong statistical evidence for a causal relationship between GDP and NAI during the same time period. These findings do not necessarily invalidate the economic impact argument, but they do align with a call for further inquiry into the economic impact of the arts as expressed by other scholars. This study includes an overview of the development of the arts' economic impact argument as well as a discussion of ancillary research implications in the concluding section.

Does information and communication technology improve labor productivity? Recent evidence from the Southeast Asian emerging economies

“…The result reveals that some Internet users and mobile cellular subscriptions confirm an affirmative and significant causality with 5 and 1% confidence levels, respectively. This finding supports the previous studies (Hsieh & Goel, 2019; Laddha et al., 2022; Lee, Hong, & Chang, 2020). However, mobile broadband cellular is not statistically significant.…”

“…Several empirical studies have enhanced the Solow model using cross‐country data to imply the influence of human capital on the course of economic progress (Alvarez‐Cuadrado, 2019; Hsieh & Goel, 2019; Lee, Hong, & Chang, 2020; Park & Seo, 2016; Raczynski, 2019). According to our estimation, the augmented Solow growth has a different result from the previous model.…”

“…Besides, ICT infrastructures have also been massively implemented in developing countries to support their economic productivity (Fan et al., 2021; Kim, Park, & Komarek, 2021; Laddha et al., 2022; Lee, Hong, & Chang, 2020; Nguyen et al., 2022; Sun & Guo, 2022; Suryoko et al., 2023; Twumasi et al., 2021). Figure 1 shows that the movement of labor productivity in the last 20 years follows the number of ICT users in Southeast Asian developing economies.…”

“…Production has an essential contribution to the growth of national welfare, improvement of societies' standards of living, and development of the economy (Gumpert, 2019;Lee, Hong, & Chang, 2020;Maharani & Woyanti, 2022;Nguyen, 2019;Shahnazi, 2021). The aggregate development of production can be measured by how many products have been created by several workers in a country, which is so-called labor productivity (Hutter & Weber, 2021;Laddha et al, 2022).…”

Skena Senirupa Indonesia 2023

“…15 Sementara kolektor jenis kedua adalah pencinta seni yang tidak peduli nilai investasi atas karya kontemporer yang dibelinya, akan naik atau turun. Karena baginya yang penting 14 Lee, Rawon, dkk (2020). Economic Growth and the Arts: a Macroeconomic Studies.…”