Home About Latest Browse RSS Advanced Search

Federal Reserve Bank of Philadelphia
Working Papers
Creativity and economic growth: theory, measures, and potentials for morocco
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.


Download Full text
Cite this item
Leonard I. Nakamura, Creativity and economic growth: theory, measures, and potentials for morocco, Federal Reserve Bank of Philadelphia, Working Papers 15-21, 29 Apr 2015.
More from this series
JEL Classification:
Subject headings:
Keywords: Intangibles; Emerging market economies; Measurement; Economic development
For corrections, contact Beth Paul ()
Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

Privacy Legal