Impact of human resources in the creative sphere on economic development
-
DOIhttp://dx.doi.org/10.21511/ppm.23(3).2025.02
-
Article InfoVolume 23 2025, Issue #3, pp. 13-25
- 157 Views
-
48 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
The industrial era is gradually giving way to a creative economy driven by human resources. This study aimed to assess the impact of human resources within the creative economy on countries’ economic growth. The focus was on human capital involved in the creative economy. Panel data from 21 countries (2016–2023) were analyzed. The ILO classification methodology for employment types was applied. A fixed-effects regression model was employed to assess the impact of human capital on economic growth, while controlling for relevant factors. The model’s coefficient of determination increased from 0.494 to 0.652 with the addition of new variables, indicating improved accuracy. These variables were used to assess the effect of creative economy indicators on GDP per capita across countries. A direct correlation has been established between the share of employed people involved in the creative economy and the country’s level of economic development, specifically in terms of GDP per capita (Gini coefficient: r = –0.431, P = 0.01). The quantitative importance of human resources of the creative economy was calculated for both developed and developing countries of the world. The practical value of the obtained results lies in the possibility of their use for the development of public management decisions to stimulate the economic growth of the country.
- Keywords
-
JEL Classification (Paper profile tab)F66, O57, J24
-
References48
-
Tables4
-
Figures1
-
- Figure 1. GDP per capita by country list, USD
-
- Table 1. Variables of the mathematical model
- Table 2. Panel data analysis (fixed effects method for modeling the dynamics of prologarithmic GDP per capita)
- Table 3. Correlations of HRCE
- Table 4. Comparison of GPD and HRCE averages for 2016–2023
-
- Ali, B. J., & Anwar, G. (2021). Marketing strategy: Pricing strategies and its influence on consumer purchasing decision. International Journal of Rural Development, Environment and Health Research, 5(2), 26-39.
- Amankwah-Amoah, J., Abdalla, S., Mogaji, E., Elbanna, A., & Dwivedi, Y. K. (2024). The impending disruption of creative industries by generative AI: Opportunities, challenges, and research agenda. International Journal of Information Management, 79, Article 102759.
- Ashley, A. J., Loh, C. G., Bubb, M. R., & Goldberg-Miller, S. B. D. (2024). The creative economy: Arts, cultural value and society in practice (1st ed.). Routledge.
- Barnes, B., & Fulford, G. R. (2008). Mathematical modelling with case studies: A differential equations approach using Maple and MATLAB (2nd ed.). Chapman and Hall/CRC.
- Batabyal, A. (2021). How many members of the creative class should a city seek to attract? Review of Regional Studies, 51, 161-169.
- Batabyal, A., & Beladi, H. (2024). Political power shifts, varying tax policy, and economic outcomes in a creative region. Papers in Regional Science, 104(1), 1056-8190.
- Bridgstock, R. (2022). Creative entrepreneurship in 2022 and beyond: Some implications for higher education. In R. Comunian, A. Faggian, J. Heinonen, & N. Wilson (Eds.), A modern guide to creative economies (pp. 125-145). Edward Elgar Publishing.
- Byrnes, W. (2022). Management and the arts (6th ed.). Routledge.
- Colbert, F., & d’Astous, A. (2021). Consumer behaviour and the arts: A marketing perspective (1st ed.). London: Routledge.
- Correa, H. (2021). The economics of human resources. Creative Media Partners, LLC.
- Dellisanti, R. (2023). Cultural and creative industries and regional development: Creativity where and why. Springer.
- Domenech, R. B., Molina, B. D. M., & Köster, P. R. (2021). The impact of cultural and creative industries on the wealth of countries, regions and municipalities. European Planning Studies, 30(9), 1777-1797.
- Eurostat. (n.d.). General government expenditure by function. Statistics Explained [Data Set].
- Freeman, A. (2015). Creative work beyond the creative industries: Innovation, employment, and education. In G. Hearn, R. Bridgstock, B. Goldsmith, & J. Rodgers (Eds.), London’s Creative Workforce. Edward Elgar Publishing Ltd.
- Gasparin, M., & Quinn, M. (2021). Designing regional innovation systems in transitional economies: A creative ecosystem approach. Growth and Change, 52(2), 621-640.
- Gathen, C., Skoglund, W., & Laven, D. (2021). The UNESCO creative cities network: A case study of city branding. In C. Bevilacqua, F. Calabrò, & L. Della Spina (Eds.), New Metropolitan Perspectives. NMP 2020. Smart Innovation, Systems and Technologies (pp. 727-737). Springer.
- Gouvea, R., Kapelianis, D., Montoya, M. J. R., & Vora, G. (2021). The creative economy, innovation and entrepreneurship: An empirical examination. Creative Industries Journal, 14(1), 23-62.
- Hartley, J. (2021). Advanced introduction to creative industries. Edward Elgar Publishing.
- Hill, I., Jones, P., Elias, S., & Dobson, S. (2023). Creative (and cultural) industry entrepreneurship in the 21st century. Emerald Publishing Limited.
- Hollands, R. G. (2023). Beyond the neoliberal creative city. In Critique and Alternatives in the Urban Cultural Economy. Routledge.
- Horban, Yu., Dolbenko, T., Yaroshenko, T., Sokol, O., & Miatenko, N. (2021). Human capital as a development factor for cultural and creative industries. International Journal of Computer Science and Network Security, 12(21), 604-610.
- Howkins, J. (2002). The creative economy: How people make money from idea. Penguin Books Limited.
- Ikram, M. (2022). Transition toward green economy: Technological innovation’s role in the fashion industry. Current Opinion in Green and Sustainable Chemistry, 37, Article 100657.
- International Labour Organization. (2012). International standard classification of occupations. Structure, group definitions and correspondence tables. ILO.
- Jian, L. (2023). Chinese creator economies: Labor and bilateral creative workers. New York University Press.
- Kalfas, D., Kalogiannidis, S., Ambas, V., & Chatzitheodoridis, F. (2024). Contribution of the cultural and creative industries to regional development and revitalization: A European perspective. Urban Science, 8(2).
- Keane, M. (2024). Precarious creativity and the state in new era China – Review of Chinese creator economies: Labor and bilateral creative workers by Jian Lin. Global Storytelling: Journal of Digital and Moving Images, 3(2), Article 8.
- Khussainova, Zh. S., Assanova, M. K., Bektleyeva, D. E., Abauova, G. M., & Kankulov, M. K. (2023). Conceptual approaches to the formation and development of creative industries in an inclusive economy. Bulletin of the Karaganda University Economy Series, 1(109), 75-88.
- Kuznetsova, N., Tkachuk, V., Obikhod, S., Vlasenko, T., Samborska, O., & Chorna, L. (2022). Human capital development in a creative economy. Amazonia Investiga, 11(54), 349-356.
- Londar, S., Lytvynchuk, A., Versal, N., Posnova, T., & Tereshchenko, H. (2020). Investment in human capital within the creative economy formation: Case of the Eastern and Central Europe countries. Comparative Economic Research. Central and Eastern Europe, 23(4), 129-148.
- Madichie, N. O., & Hinson, R. E. (2022). The creative industries and international business development in Africa. Emerald Publishing Limited.
- McIntyre, P., Kerrigan, S., Fulton, J., King, E., & Williams, C. (2023). Creativity and creative industries in regional Australia: Interconnected networks, shared knowledge and choice making agents. Palgrave Macmillan.
- Mellander, C., & Florida, R. (2021). The rise of skills: Human capital, the creative class, and regional development. In M.M. Fischer & P. Nijkamp (Eds.), Handbook of Regional Science. Springer, Berlin, Heidelberg.
- Mickov, B. (2023). The cultural sector and sustainable economic development: Innovation and the creative economy in European cities. Routledge.
- O’Connor, J. (2024). Creative industries. In Culture is not an industry. Manchester University Press.
- Pandey, A., & Mishra, A. (2025). Conflict and coexistence of human rights: An exploratory study with reference to intellectual property rights. Journal of Human Rights and Social Work, 10, 43-54.
- Patston, T. J., Kaufman, J. C., Cropley, A. J., & Marrone, R. (2021). What is creativity in education? A qualitative study of international curricula. Journal of Advanced Academics, 32(2), 207-230.
- Saintilan, P., & Schreiber, D. (2023). Managing organizations in the creative economy: Organizational behaviour for the cultural sector. Routledge.
- Surodjo, B., Astuty, P., & Lukman, L. (2022). Creative economic potential of the fashion, crafts and culinary sub sector in The New Normal Era. In Proceedings of the 2nd International Conference on Law, Social Science, Economics, and Education. ICLSSE.
- Turgel, I. D., Derbeneva, V. V., Baskakov, I. V., & Chukavina, K. V. (2022). Theoretical approaches to identifying creative industries. R-Economy, 8(4), 310-326.
- UN Trade and Development. (2024). Creative economy outlook 2024. Bernan Distribution.
- United Nations General Assembly. (2020, January 14). Resolution Adopted by the General Assembly A/RES/74/198 on 19 December 2019.
- Varoğlu, D., & Paliszkiewicz, J. (2023). Management and organizational studies on blue & grey collar workers: Diversity of collars. Emerald Publishing Limited.
- Virani, T. E. (2023). Global creative ecosystems: A critical understanding of sustainable creative and cultural production. Palgrave Macmillan.
- Virani, T. E. (2024). An uncomfortable truth? Rethinking the relationship between neoliberalism and the creative and cultural industries. In B. Shankar Nayak (Ed.), Intimate Capitalism: Political Economy of Labour and Culture in Creative Industries. Palgrave Macmillan.
- World Bank Group. (n.d.). World Development Indicators [Data Set].
- Wyszomirski, M. J., & Chang, W. (2023). Professionalization in the creative sector: Policy, collective action, and institutionalization. Routledge.
- Yadav, S., & Williams, A. (2021). Natural resources conservation and advances for sustainability. Elsevier.