Creative industries and innovation in a knowledge economy

Potts, Jason D. (2012) Creative industries and innovation in a knowledge economy. In Rooney, David J., Hearn, Gregory N., & Kastelle, Timothy (Eds.) Handbook On The Knowledge Economy, Volume Two. Edward Elgar Publishing Limited, Cheltenham, United Kingdom, pp. 193-203.

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The cultural and creative industries contribute to the knowledge economy by their role in reproducing cultural knowledge and through provision of entertainment, experience and leisure goods with cultural content, for which they are widely acknowledged as suffering serious market failure problems (Baumol and Bowen, 1966; Throsby and Withers, 1979). But they also contribute to the innovation process, an aspect that has only recently been appreciated. Specifically, the creative industries are a driver of the knowledge economy by their contribution to the innovation process on the demand side of consumer uptake of new ideas and by their facilitation of consumer-producer interaction. The creative industries are, in this respect, a legitimate part of the innovation system of a knowledge economy.

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1 citations in Web of Science®
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ID Code: 52972
Item Type: Book Chapter
Keywords: Creative Industries, Innovation, Knowledge Economy, Facilitation, Economic Growth
ISBN: 9781849801744
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200)
Australian and New Zealand Standard Research Classification > STUDIES IN CREATIVE ARTS AND WRITING (190000)
Divisions: Past > Research Centres > ARC Centre of Excellence for Creative Industries and Innovation
Current > QUT Faculties and Divisions > Creative Industries Faculty
Past > Institutes > Institute for Creative Industries and Innovation
Deposited On: 08 Aug 2012 01:01
Last Modified: 20 Oct 2015 16:02

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