Federal Reserve Bank of Philadelphia
Creativity and economic growth: theory, measures, and potentials for morocco
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.
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.
- 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
Keywords: Intangibles; Emerging market economies; Measurement; Economic development
This item with handle RePEc:fip:fedpwp:15-21
is also listed on EconPapers
For corrections, contact Beth Paul ()