The Impact of Cultural Capital on Economic Growth Based on Green Low-Carbon Endogenous Economic Growth Model

This paper incorporates cultural capital, urbanization development level and carbon emission reduction input as endogenous factors into the endogenous economic growth model. By using optimal control theory and based on empirical analysis, this paper explores the relationship between cultural capital...

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Bibliographic Details
Published in:Sustainability 2024-03, Vol.16 (5), p.1781
Main Author: Wan, Bingyue
Format: Article
Language:English
Subjects:
Air quality management
Behavior
Capital stock
Carbon
Corporate culture
Cultural capital
Digital economy
Economic growth
Emissions (Pollution)
Energy efficiency
Energy resources
Environmental protection
Government business enterprises
Growth
Growth models
Growth rate
Household utilities
Human capital
Innovations
Investments
Sustainable development
Urban areas
Urbanization
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Summary:This paper incorporates cultural capital, urbanization development level and carbon emission reduction input as endogenous factors into the endogenous economic growth model. By using optimal control theory and based on empirical analysis, this paper explores the relationship between cultural capital and green low-carbon endogenous economic growth. This paper finds that at the company level, cultural capital improves the technical efficiency and institutional efficiency of firms and then promotes economic growth. At the government level, cultural capital and government investment in urban fixed cultural assets promotes economic growth. At the resident level, the transformation of cultural capital into environmental protection awareness promotes firms and residents to independently practice green low-carbon behaviors. Firms can independently research and develop green low-carbon digital science and technology and produce green low-carbon digital goods, and residents can engage in green digital consumption, thereby reducing carbon emissions and carbon emission input and promoting economic growth. This paper explores the role of cultural capital in firms’ R&D, then promotes green low-carbon transformation of firms by exploring the role of cultural capital in government investment, promoting the government to increase investment in green low-carbon cultural education, exploring the impact of cultural capital on the thinking and behavior of firms and residents, and promoting the independent practice of green low-carbon behavior by firms and residents, ultimately promoting the development of a green low-carbon economy.
ISSN:2071-1050
2071-1050
DOI:10.3390/su16051781