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Creative Economy Report 2010

Posted by lostincci on January 14, 2011

Creative Economy: A Feasible Development Option

A new development paradigm is emerging that links the economy and culture, embracing economic, cultural, technological and social aspects of development at both the macro and micro levels. Central to the new paradigm is the fact that creativity, knowledge and access to information are increasingly recognized as powerful engines driving economic growth and promoting development in a globalizing world.

The emerging creative economy has become a leading component of economic growth, employment, trade and innovation, and social cohesion in most advanced economies. Unfortunately, however, the large majority of developing countries are not yet able to harness their creative capacity for development. This is a reflection of weaknesses both in domestic policy and in the business environment, and global systemic biases. Nevertheless, the creative economy offers to developing countries a feasible option and new opportunities to leapfrog into emerging high-growth areas of the world economy.

CMCI is happy to note that the UN Creative Economy Report has just been updated (2010). CMCI’s Andy Pratt, David Throsby (Macquarie University) and Edna Dos Santos (UNCTAD) were the drafting team for the report, which pulled together perspectives from agencies across the UN family; Andy also advised on the definitions and database on global cultural trade which forms a massive appendix to the report. The first edition (2009) was seminal in linking global development and the creative economy, and it is now the template for a new policy area. Edna Dos Santos from UNCTAD will be launching the report at KCL in March (to be confirmed)

This report presents an updated perspective of the United Nations as a whole on this exciting new topic. It provides empirical evidence that the creative industries are among the most dynamic emerging sectors in world trade. It also shows that the interface among creativity, culture, economics and technology, as expressed in the ability to create and circulate intellectual capital, has the potential to generate income, jobs and export earnings while at the same time contributing to social inclusion, cultural diversity and human development. This report addresses the challenge of assessing the creative economy with a view to informed policy-making by outlining the conceptual, institutional and policy frameworks in which this economy can flourish.

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