Endogenous Power of Rural Economic Development in China: A Case Study of Cultural Capital of Dong Brocade

Abstract

This paper studies the relationship between cultural capital and development of the rural economy in China during the economic transformation period. Cultural capital is considered as an essential endogenous power for developing a rural economy, which is mainly reflected in the effects of cultural capital in increasing the output level in rural areas, improving farmers’ income, and helping to lift them out of poverty. As many enterprises with intensive cultural capital and relatively high marginal product arising in China, cultural capital advances the development of the rural economy to promote the advanced organizational methods to allocate resources. It also upgrades human capital and increases the rural labor force employed in the industries with a relatively high marginal product and abundant cultural capital. Moreover, the industries with intensive cultural capital expand the coordinated development of the markets and initiatives for the rural economy.

Keywords

• rural economy
• endogenous power
• cultural capital
• dong brocade in china