Public Policy for the Creative Industries

Bakhshi, Hasan, Cunningham, Stuart, & Mateos-Garcia, Juan (2015) Public Policy for the Creative Industries. In Jones, Candace, Lorenzen, Mark, & Sapsed, Jonathan (Eds.) The Oxford Handbook of Creative Industries. Oxford University Press, Oxford, United Kingdom, pp. 465-485.

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The cultural and creative industries are closely intertwined with government. This chapter reviews key economic rationales for public policy interventions for the arts, cultural and creative industries. Market failure justifications depend on the status of arts and culture as non-rival public goods, as ‘merit goods’, or the need to moderate the effects of up-front investment costs or monopoly, and the inherent uncertainty of creative production. ‘Systems failure’ too is a regular rationale for policy intervention. Using the United Kingdom as an example, the chapter shows how emphasis on these rationales has shifted over the last three decades, first in the context of industrial policies for traditional aims such as exports and job growth, which have been joined in recent years by the need for investment in intangibles, knowledge exchange, and spillover effects in the wider economy.

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ID Code: 87046
Item Type: Book Chapter
Keywords: creative industries, public policy, market failure, spillover effects, creative economy
DOI: 10.1093/oxfordhb/9780199603510.013.027
ISBN: 9780199603510
Subjects: Australian and New Zealand Standard Research Classification > LANGUAGES COMMUNICATION AND CULTURE (200000) > COMMUNICATION AND MEDIA STUDIES (200100) > Media Studies (200104)
Divisions: Current > Research Centres > ARC Centre of Excellence for Creative Industries and Innovation
Current > Research Centres > Digital Media Research Centre
Current > QUT Faculties and Divisions > Creative Industries Faculty
Copyright Owner: Copyright Oxford University Press 2015. The moral rights of the authors have been asserted.
Copyright Statement: All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without the prior permission in writing of Oxford University Press, or as expressly permitted by law, by licence or under terms agreed with the appropriate reprographics rights organisation. Enquiries concerning reproduction outside the scope of the above should be sent to the Rights Department, Oxford University Press, at the address above [Great Clarendon Street, Oxford, OX2 6DP, United Kingdom]. You must not circulate this work in any other form and you must impose this same condition on any acquirer.
Deposited On: 31 Aug 2015 02:59
Last Modified: 27 Oct 2015 22:04

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