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Creativity and economic growth: theory, measures, and potentials for morocco

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  • Leonard I. Nakamura

Abstract

The current era of globalization is dominated by the rise of investments in intangible capital rather than tangible capital ? the ascendance of creativity over plant and equipment. This brief paper is motivated by the possibility that emerging market economies such as Morocco might take greater advantage of new tools and policies designed for this new era. To begin, I discuss the transformation of the global economy and the consequences of the transformed global economy for economic thinking and measurement. I refer to both old and new literature on the measurement of intangible investment and capital. Then, I discuss the rising role of creativity and cultural difference in the development of these new economic forces, using the example of the Harry Potter book series. I then consider how cultural enhancement serves multiple purposes for a nation. Finally, I turn to some of the possible implications of these economic forces for Morocco, stressing that these implications are speculative.

Suggested Citation

  • Leonard I. Nakamura, 2015. "Creativity and economic growth: theory, measures, and potentials for morocco," Working Papers 15-21, Federal Reserve Bank of Philadelphia.
    • Handle: RePEc:fip:fedpwp:15-21
    as

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    References listed on IDEAS

    as
    1. Richard B. Freeman, 2013. "One Ring to Rule Them All? Globalization of Knowledge and Knowledge Creation," NBER Working Papers 19301, National Bureau of Economic Research, Inc.
    2. Charles R. Hulten & Xiaohui Hao, 2008. "What is a Company Really Worth? Intangible Capital and the "Market to Book Value" Puzzle," NBER Working Papers 14548, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Intangibles; Emerging market economies; Measurement; Economic development;
    All these keywords.

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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