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

• 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
• ISSN: 2071-1050; 2071-1050
• DOI: 10.3390/su16051781

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.