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The creative industries effects on economic performance in the time of pandemic

The creative industries effects on economic performance in the time of pandemic This paper aims to investigate empirically whether creative industries are boosting the economic performance of the ASEAN countries (Malaysia, Indonesia, Singapore, Thailand, Vietnam and Brunei Darussalam) during the Coronavirus disease (COVID-19) pandemic.Design/methodology/approachThis paper applied a random effect and fixed effect estimation approach to investigate the impact of creative industries’ development (government expenditure on education, export of creative industries, trade openness, innovation index, sukuk issuances) on the economic performance spanning from 2010 to 2020.FindingsThe economic performance was proxied by two dependent variables, namely, the gross domestic product and the Misery Index. On top of containment and vaccination measures, the findings demonstrated that creative industries are enhancing economic growth in Association of Southeast Asian Nations (ASEAN) countries, supported by the significant role of the sukuk market as a vital contributor to economic growth.Originality/valueThis study is unique because it provides novel and empirical results of the creative industries’ development on economic performance in the ASEAN countries before and during the COVID-19 pandemic. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Ethics and Systems Emerald Publishing

The creative industries effects on economic performance in the time of pandemic

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References (55)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
2514-9369
eISSN
2514-9369
DOI
10.1108/ijoes-10-2021-0199
Publisher site
See Article on Publisher Site

Abstract

This paper aims to investigate empirically whether creative industries are boosting the economic performance of the ASEAN countries (Malaysia, Indonesia, Singapore, Thailand, Vietnam and Brunei Darussalam) during the Coronavirus disease (COVID-19) pandemic.Design/methodology/approachThis paper applied a random effect and fixed effect estimation approach to investigate the impact of creative industries’ development (government expenditure on education, export of creative industries, trade openness, innovation index, sukuk issuances) on the economic performance spanning from 2010 to 2020.FindingsThe economic performance was proxied by two dependent variables, namely, the gross domestic product and the Misery Index. On top of containment and vaccination measures, the findings demonstrated that creative industries are enhancing economic growth in Association of Southeast Asian Nations (ASEAN) countries, supported by the significant role of the sukuk market as a vital contributor to economic growth.Originality/valueThis study is unique because it provides novel and empirical results of the creative industries’ development on economic performance in the ASEAN countries before and during the COVID-19 pandemic.

Journal

International Journal of Ethics and SystemsEmerald Publishing

Published: Jul 12, 2023

Keywords: Economic performance; Creative industry; Panel-data modelling method; Sukuk issuances; COVID-19 pandemic; E44; F63; J24; O47

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