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

The current study explores the impact of cultural industries on economic and employment growth in China using the 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 the production function approach.The simultaneous equations are used to consider the impact of cultural industries on the economy and employment, and the lasso regression is used to screen out the factors that can most affect the economy and employment.The empirical results demonstrate a positive impact of national culture and related industries' value-added on the economic growth and employment growth in China.In the current era, the cultural industry can exert its industrial characteristics, drive the innovation and development of related industries, promote the transformation and upgrading of the industrial structure, and change the mode of economic development.Therefore, studying the factors affecting the development of the cultural industry has important theoretical and practical signiicance.