Open AccessScientific Culture and Economic Growth in the Long-Run: On a Capital Perspective
Author(s) -
Peixiao Qi,
Nian Zheng
Publication year - 2018
Publication title -
research in world economy
Language(s) - English
Resource type - Journals
eISSN - 1923-399X
pISSN - 1923-3981
DOI - 10.5430/rwe.v9n1p39
Subject(s) - economics , capital deepening , perspective (graphical) , capital accumulation , capital (architecture) , civilization , economic system , human capital , economic capital , classical economics , neoclassical economics , financial capital , monetary economics , capital formation , market economy , political science , geography , law , archaeology , artificial intelligence , computer science
The cultural capital can be as a kind of asset that embodies, stores and produces the cultural values except for producing the economic values. With the further progress of modern civilization, scientific culture, on an economics perspective, as a combination of intangible and tangible capital, more and more becomes the one of important engine to make economic sustainable growth in the long run for a country. Based on the framework by Barro and Turnvosky, this paper constructed an economic growth model including the factor of scientific culture and mainly found that the impact of scientific culture capital growth rate on human capital accumulation is positive, and then affects economic growth rate. And the greater scientific culture capital growth rate influences the human capital accumulation, the higher economic growth rate is.