Current Issue

Does the Medium-term Development of the Creative Economy Guarantee Long-term Evolution?

Yoo-Soo HONG and Hui-Wen CHEN
IJCCI volume 5, issue 1, 2017

This paper reviews and compares the political economy of Japan, Korea and Taiwan as it relates to the development of the creative economy from 2000-2017. Governments of all three countries have maintained “the developmental-state” approach with strong government leadership. However, the behavior of local markets and the role of the general public have been very different: (1) The “Cool Japan Initiative” of the Japanese government has not been satisfactory, although it has been politically stable; (2) The regime changes in Korea have seriously impaired creative economic development; and (3) Taiwan has maintained a gradual and steady approach, but has not been free of the effects of political regime change. All three countries suffer from the problem of coordination. Adding to this problem, neither the concept nor the idea of “a creative economy” is well understood by the general public. Ideally, a creative economy is expected to evolve into an “all-encompassing creative economy” in the sense that culture-based creativity lies at the core of all industries in the economy. However, the medium-term development of a creative economy does not necessarily guarantee that the economy will evolve in that direction, particularly if the creative ecosystem is not fully developed. 

 

Keywords: Creative economy, Cultural and creative industry, National creative ecosystem, All-encompassing creative economy