Contribution of creative and cultural capital to Mexican economic growth

Resumen

This research aims to analyze the contribution of creative intangible capital to Mexican economic growth between 1991 and 2021. The study utilizes the growth accounting methodology, specifically the Corrado-Hulten-Sichel approach (CHS, 2005), which incorporates intangible capital. The research provides estimations for investment flows and capital stocks at the national and sector industry levels, focusing on the creative and cultural industries (CCIs) that produce intangibles. The main empirical finding indicates that intangible capital in Mexico contributes to growth at a similar magnitude as labor. The inclusion of intangible capital in Mexican growth accounting appears to have a positive impact on Total Factor Productivity (PTF). Notably, CCIs capital contribution represents approximately 75% of the total intangible capital contribution, highlighting its significant role as a driver of economic growth.