The impact of cultural industry on economic and employment growth in China

Abstract

The current study explores the impact of cultural industries on economic and employment growth in China usingthe data from 2004Q1-2018Q4, taking the quarterly data of National culture and related industries value added,Employment and Gross Domestic Product (GDP) as the main variables. In this study, we choose to work with theproduction function approach. The simultaneous equations are used to consider the impact of cultural industrieson the economy and employment, and the lasso regression is used to screen out the factors that can most affecttheeconomy and employment. The empirical results demonstrates that there is a positive impact of national cultureand related industries value added on the economic growth and employment growth in China.