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Economic Analysis: Theory and Practice
 

A statistical investigation of the dependence of population's economic activity on the cultural capital level in Russian regions

Vol. 15, Iss. 8, AUGUST 2016

PDF  Article PDF Version

Received: 23 October 2015

Received in revised form: 2 March 2016

Accepted: 17 May 2016

Available online: 31 August 2016

Subject Heading: MATHEMATICAL METHODS AND MODELS

JEL Classification: C51, R12

Pages: 180-190

Kazhaeva T.I. Orenburg State Agrarian University, Orenburg, Russian Federation
kazhaeva_tatyana@mail.ru

Importance Cultural capital plays a significant role in ensuring economic growth. The article summarizes views of domestic and foreign scholars on defining the role of cultural capital in the modern society.
Objectives The objective of this study is to classify regions (identification of homogeneous groups) by their cultural capital development and establish statistical relationships between indicators of cultural capital and economic growth.
Methods The study employs multidimensional statistical methods, i.e. the cluster, factor, regression analysis, and the principal component analysis (PCA).
Results The factor analysis identified three principal components that form the cultural capital in the Russian regions. They include the level of sports development, cultural and aesthetic development, and the mainstream culture development. The cluster analysis resulted in forming six clusters, with the leading cluster, mainly consisting of regions of the Central Federal District.
Conclusions and Relevance The impact of cultural capital on the level of economic activity of the population is statistically proven for the majority of subjects of the Federation. The findings may be useful when making decisions about targeted State support to structural elements of the cultural capital at both the federal and regional level.

Keywords: cultural capital, multidimensional statistical method, economic activity, population, region

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