Evaluating three decades of the European Capital of Culture programme: a difference-in-differences approach.

We measure the regional impact of the European Capital of Cultureprogramme using a difference-in-differences approach. We compare the regions ofcities that hosted the event with the regions of cities that tried to host it but did notsucceed. GDP per capita in hosting regions is 4.5 % higher compared to nonhosting regions during the event, and the effect persists more than 5 years after it. This result suggests that the economic dimension of the event is important and supports claims that the event serves as catalyst for urban regeneration and development