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

Author

Listed:
  • Noraziah Che Arshad
  • Tubagus Thresna Irijanto

Abstract

Purpose - 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/approach - This 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. Findings - The 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/value - This 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.

Suggested Citation

  • Noraziah Che Arshad & Tubagus Thresna Irijanto, 2022. "The creative industries effects on economic performance in the time of pandemic," International Journal of Ethics and Systems, Emerald Group Publishing Limited, vol. 39(3), pages 557-575, June.
    • Handle: RePEc:eme:ijoesp:ijoes-10-2021-0199
    DOI: 10.1108/IJOES-10-2021-0199
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    More about this item

    Keywords

    Economic performance; Creative industry; Panel-data modelling method; Sukuk issuances; COVID-19 pandemic; E44; F63; J24; O47;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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