E-Book, Englisch, 149 Seiten, eBook
An Empirical Analysis of Future Key Industries
E-Book, Englisch, 149 Seiten, eBook
ISBN: 978-3-8349-8651-1
Verlag: Betriebswirtschaftlicher Verlag Gabler
Format: PDF
Kopierschutz: 1 - PDF Watermark
Prof. Dr. Dieter Puchta is consultant for strategic business development.
Prof. Dr. Friedrich Schneider is Professor of Economics at Johannes Kepler University of Linz.
Dr. Stefan D. Haigner, Mag. Stefan Jenewein und Dr. Florian Wakolbinger are self-employed in applied economic research and lecturers at the Universities of Innsbruck and Linz.
Zielgruppe
Research
Autoren/Hrsg.
Weitere Infos & Material
1;Preface;6
2;Contents;7
3;List of Figures;11
4;List of Focus Boxes;11
5;List of Tables;12
6;List of Abbreviations;14
7;1 Introduction;15
8;Part 1;18
8.1;2 The Notion of Creative Industries;19
8.1.1;2.1 Anglo-American and Continental-European Approach;20
8.1.1.1;2.1.1 Anglo-American Approach following R. Florida;20
8.1.1.2;2.1.2 Continental-European Approach;21
8.1.1.2.1;2.1.2.1 Cultural and Creative Economy;21
8.1.1.2.2;2.1.2.2 The 3-Sector Model;22
8.1.2;2.2 Horizontal and Vertical Approach;22
8.1.3;2.3 Technological Sectors as Part of the Creative Industries;23
8.1.4;2.4 Creative Class or Creative Industries?;23
8.1.5;2.5 A Variety of Terms;24
8.1.6;2.6 Tentative Conclusions;25
8.2;3 On the Theory of Creative Industries;27
8.2.1;3.1 Characteristics of the Creative Industries;27
8.2.1.1;3.1.1 Uncertain Demand;27
8.2.1.2;3.1.2 Creativity as a Value in Itself;28
8.2.1.3;3.1.3 A Mix of Skills;28
8.2.1.4;3.1.4 Differentiability;29
8.2.1.5;3.1.5 Differentiation of Inputs;29
8.2.1.6;3.1.6 Time is a Critical Factor;29
8.2.1.7;3.1.7 Durable Goods;29
8.2.1.8;3.1.8 Uncertainty;30
8.2.2;3.2 Differences between Creative and Traditional Industries;30
8.2.2.1;3.2.1 The Degree of Integration;30
8.2.2.2;3.2.2 Type of Actors;31
8.2.2.3;3.2.3 Types of Markets;31
8.2.2.4;3.2.4 The Business Models;31
8.2.2.5;3.2.5 The Creative Industries as a Cross-Sectional Area;32
8.2.2.6;3.2.6 Investment Patterns;32
8.2.2.7;3.2.7 Labor Markets;32
8.2.2.8;3.2.8 Innovation as a Driving Force;33
8.3;4 An International Overview on the Creative Industries;36
8.3.1;4.1 The United Kingdom;36
8.3.2;4.2 Australia;37
8.3.3;4.3 The Netherlands;38
8.3.4;4.4 Switzerland;39
8.3.5;4.5 Austria;39
8.3.6;4.6 Germany;40
8.3.6.1;4.6.1 North Rhine Westphalia;41
8.3.6.2;4.6.2 Schleswig-Holstein;42
8.3.6.3;4.6.3 Hessen;43
8.3.6.4;4.6.4 Saxony-Anhalt;43
8.3.6.5;4.6.5 Hamburg;43
8.3.6.6;4.6.6 Berlin;44
8.3.6.7;4.6.7 Cologne;44
8.3.7;4.7 International Institutions;45
8.3.7.1;4.7.1 European Union;45
8.3.7.2;4.7.2 UNESCO;46
8.3.7.3;4.7.3 WIPO;46
8.3.8;4.8 Tentative Conclusions;47
9;Part 2;48
9.1;5 From Theory to Empirics;49
9.1.1;Differences in Definitions;49
9.1.2;Differences in Mappings;49
9.1.3;Comparability of Studies;49
9.1.4;Clear Tendency;50
9.1.5;5.1 Data Sources;51
9.1.6;5.2 The Mapping of Economic Sectors;51
9.2;6 The Berlin Creative Industries at a Glance;53
9.3;7 The Creative Industries in Detail;56
9.3.1;7.1 Details of the Cultural Branches;56
9.3.1.1;7.1.1 Publishing Table 5: Publishing – Classification;56
9.3.1.1.1;7.1.1.1 Statistical Classification;56
9.3.1.1.2;7.1.1.2 Facts and Figures;56
9.3.1.1.3;7.1.1.3 Specifics;57
9.3.1.2;7.1.2 Film Industries;58
9.3.1.2.1;7.1.2.1 Statistical Classification;58
9.3.1.2.2;7.1.2.2 Facts and Figures;60
9.3.1.2.3;7.1.2.3 Film Industries in the Context of the Creative Industries;60
9.3.1.2.4;7.1.2.4 Outlook;61
9.3.1.3;7.1.3 Private Broadcasting Industries;61
9.3.1.3.1;7.1.3.1 Statistical Classification;61
9.3.1.3.2;7.1.3.2 Facts and Figures;62
9.3.1.3.3;7.1.3.3 Specifics;62
9.3.1.4;7.1.4 Music, Visualand Performing Arts;63
9.3.1.4.1;7.1.4.1 Statistical Classification;63
9.3.1.4.2;7.1.4.2 Facts and Figures;66
9.3.1.4.3;7.1.4.3 Specifics;66
9.3.1.5;7.1.5 Journalists and News Agencies;67
9.3.1.5.1;7.1.5.1 Statistical Classification;67
9.3.1.5.2;7.1.5.2 Facts and Figures;67
9.3.1.5.3;7.1.5.3 Specifics;68
9.3.1.6;7.1.6 Museum Shops and Art Exhibitions;68
9.3.1.7;7.1.7 Retailing of Cultural Goods;69
9.3.1.7.1;7.1.7.1 Statistical Classification;69
9.3.1.7.2;7.1.7.2 Facts and Figures;70
9.3.1.8;7.1.8 Architecture;71
9.3.1.8.1;7.1.8.1 Statistical Classification;71
9.3.1.8.2;7.1.8.2 Facts and Figures;71
9.3.1.9;7.1.9 Design Industries;73
9.3.1.9.1;7.1.9.1 Statistical Classification;73
9.3.1.9.2;7.1.9.2 Facts and Figures;73
9.3.2;7.2 Details of the Creative Branches;74
9.3.2.1;7.2.1 Advertising;74
9.3.2.1.1;7.2.1.1 Statistical Classification;74
9.3.2.1.2;7.2.1.2 Facts and Figures;74
9.3.2.2;7.2.2 Softwareand Games Industries Table 34: Software and;75
9.3.2.2.1;7.2.2.1 Statistical Classification;75
9.3.2.2.2;7.2.2.2 Facts and Figures;76
9.3.3;7.3 Tentative Conclusions;77
9.4;8 Excursus: Differences among Research Results;80
9.4.1;8.1 Possible Reasons;80
9.4.2;8.2 Working off the Books;82
10;Part 3;84
10.1;9 Value Added and Employment;85
10.1.1;9.1 The Model;85
10.1.2;9.2 Simulation Approach;88
10.1.3;9.3 Scenarios;89
10.1.4;9.4 Simulation Results;90
10.1.4.1;9.4.1 Regional GDP;90
10.1.4.2;9.4.2 Employment;92
10.1.5;9.5 Targeted Investment;93
10.1.5.1;9.5.1 Regional GDP;94
10.1.5.2;9.5.2 Employment;95
10.2;10 Conclusions;96
11;Part 4;97
11.1;11 Instruments to Foster the Creative Industries;98
11.1.1;11.1 Instruments;99
11.1.1.1;11.1.1 Monetary Instruments;99
11.1.1.2;11.1.2 Non-monetary Instruments;100
11.1.2;11.2 Specifics;101
11.1.2.1;11.2.1 Low Capital Endowment;102
11.1.2.2;11.2.2 Lack of Debt Guarantees;102
11.1.2.3;11.2.3 Low Funding Requirements;102
11.1.2.4;11.2.4 Uncertainty of Success;103
11.1.2.5;11.2.5 Ideas Instead of Machines;103
11.1.2.6;11.2.6 Preand Interim Financing, Sustainability;104
11.1.2.7;11.2.7 Lack of Knowledge on Funding Possibilities;104
11.1.2.8;11.2.8 Lack of Commercial Comprehension;105
11.1.3;11.3 Types of Financing;105
11.1.3.1;11.3.1 Credit Capital;106
11.1.3.2;11.3.2 Mezzanine-Capital;107
11.1.3.3;11.3.3 Venture Capital;108
11.1.3.3.1;11.3.3.1 United Kingdom;110
11.1.3.3.2;11.3.3.2 Germany;111
11.1.4;11.4 Tentative Conclusions;112
11.2;12 Executive Summary;116
11.2.1;12.1 Introduction;116
11.2.2;12.2 Results of this Study;116
11.2.3;12.3 Outlook;121
12;Literature;122
13;Appendix A – Economic Sectors in Detail;126
14;Appendix B – Differences in Research Results;129
15;Appendix C – Sensitivity Analysis;134
15.1;More Weight to the Production Sector;134
15.2;More Weight to the Service Sector;136
1.- The Notion of Creative Industries.- On the Theory of Creative Industries.- An International Overview on the Creative Industries.- 2.- From Theory to Empirics.- The Berlin Creative Industries at a Glance.- The Creative Industries in Detail.- Excursus: Differences among Research Results.- 3.- Value Added and Employment.- Conclusions.- 4.- Instruments to Foster the Creative Industries.- Executive Summary.
9 Value Added and Employment (S. 85-86)
In part 2 of this study we have shown that the Creative Industries are an important and considerable sector within the Berlin Economy. In order to be able to investigate the potential of funding, sponsorship and support as part of economic policy, we will now analyze to which extent investment in the Creative Industries will boost the economic value added and employment. In order to exemplify our analysis we will refer to the venture capital Fund “VC Fonds Kreativwirtschaft Berlin”29 provided by Investitionsbank Berlin throughout the chapter.
This fund aims at providing capital for creative projects and is anticipated to be available until 2015. The investors plan to supply the Berlin Creative Industries with capital of “ 3,75 mn. per year. In addition to Investitionsbank Berlin, the European Regional Development Fund (ERDF) will contribute to the venture capital Fund. Moreover, the investors plan to supplement every venture capital holding by additional private investments of at least 100% of the fund’s money, so that the total volume of provided capital is “ 7,5 mn. (Keuper et al., 2008).
Here, we will estimate the economic effects of such an engagement. It is in this context reasonable to assume that the investment throughout the years will result in additional income that is considerably higher than the capital expenditure. Moreover, we expect increasing employment or a reduction of unemployment respectively. We will perform our investigations by employing the Berlin Economic Simulation Tool BEST. This tool is essentially a regional macroeconometric model which has been developed by Kollmann et al. (2006) on behalf of Investitionsbank Berlin. It images the Berlin Economy and will be described in the following section.
9.1 The Model
The Berlin Economic Simulation Tool BEST is a regional macroeconometric model which images the Berlin Economy by means of a system of multiple equations. Its properties make BEST the ideal tool to analyze the effects of the economic activities of Investitionsbank Berlin. As such, it is suitable to investigate the consequences of issuing venture capital within the VC Fund “Kreativwirtschaft Berlin“. Each simulation performed by BEST is essentially a comparison between two scenarios.
The benchmark scenario is the status quo, a situation without any investment capital provided. It is typically called the “business-as-usual scenario”. The second scenario is a situation involving an exogenous change of various macroeconomic variables. The results of such changes – which are, from a macroeconomists point of view – denoted as “economic shocks” (Kollmann et al., 2006) – are simulated by BEST. The economic effects calculated by BEST always relate to a comparison with the business-as-usual scenario.
