Are the World's Leading Financial Centers Also Its Leaders in the Arts?

To what degree are the world's leading financial centers also leading centers for the arts? A new study by Monika Skórska and Robert Kloosterman of the University of Amsterdam takes an empirical look.

Many have noted a possible connection between the two. While some believe leadership in arts and finance are twin characteristics of leading global cities, others, mainly economists, argue that leadership in the arts comes only after and as a byproduct of economic leadership. Despite these assertions, the study points out, there has has been little systematic empirical research of the connection between finance and arts across global cities.