THE RELATIONSHIP OF STATE INVESTMENTS IN THE SECTOR OF ССI AND THE LEVEL OF COMPETITIVENESS OF THE ECONOMY

Denys Bloshchynskyi

doi:10.23856/6517

Denys Bloshchynskyi Educational and Research Institute of Public Administration and Civil Service of Taras Shevchenko National University of Kyiv https://orcid.org/0000-0003-3412-0310

Keywords: public administration, social innovations, economic competitiveness, investment strategy, economic development, cultural capital, cross-sectoral cooperation, creative industries.

Abstract

The article examines the relationship between public investment in the creative and cultural industries (CCI) sector and the level of competitiveness of the national economy. This study examines the influence of state-sponsored initiatives, including innovative projects, cultural programmes and creative start-ups, on a country's global economic competitiveness. It is established that investments in the cultural and creative industries have a dual impact on the national economy. Firstly, they facilitate the development of the cultural and educational spheres. Secondly, they have a significant impact on GDP growth, job creation, increase in export potential and attraction of foreign investment. Particular attention is paid to the mechanisms of interaction between the public and private sectors for the effective implementation of investment programmes in the field of CCI. The article examines the various financing models and institutional approaches that can ensure the sustainable development of creative industries. A substantial portion of the study is dedicated to an examination of international experiences with regard to investment in cultural and creative industries. In particular, the European Union, the United Kingdom, the United States, and the countries known as the "Asian Tigers" are taken as case studies. Based on a comparative analysis of these cases, the most effective instruments for supporting investments in the CCI sector and their impact on the competitiveness of national economies are identified.

References

1. European Commission. (2018). A New European Agenda for Culture. European Commission. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52018DC0267
2. Throsby, D. (2010). The Economics of Cultural Policy. Cambridge University Press.
3. OECD. (2009). The Impact of Culture on Tourism. OECD Publishing. https://doi.org/10.1787/9789264040731-en.
4. Towse, R. (2019). A Textbook of Cultural Economics (2nd ed.). Cambridge University Press.
5. Richards, G. (2018). Cultural tourism: A review of recent research and trends. Journal of Hospitality and Tourism Management, 36, 12-21. https://doi.org/10.1016/j.jhtm.2018.03.005
6. Evans, G. (2021). Cultural Planning: An Urban Renaissance? Routledge.
7. BOP Consulting. (2017). Creative Economy and Tourism. British Council.
8. Smith, MK (2016). Issues in Cultural Tourism Studies. Routledge.
9. Middleton, V. T. C., Fyall, A., & Morgan, M. (2017). Marketing in Travel and Tourism. Butterworth- Heinemann.
10. Dwyer, L., & Kim, C. (2003). Destination competitiveness: Determinants and indicators. Current Issues in Tourism, 6(5), 369-414. https://doi.org/10.1080/13683500308667962
11. UNWTO. (2018). Tourism and Culture Synergies. World Tourism Organization. https://www.e-unwto.org/doi/book/10.18111/9789284418978
12. OECD. (2019). Tourism Trends and Policies. OECD Publishing. https://doi.org/10.1787/tour-2019-en
13. European Commission. (2023). Cultural and Creative Cities Monitor 2023. Joint Research Centre, European Union.
14. Greg Richards, & Wil Munsters (2010). Cultural Tourism Research Methods. CABI.
15. Hall, CM, & Page, S. (2014). The Geography of Tourism and Recreation: Environment, Place and Space. Routledge.
16. UNESCO. (2013). Creative Economy Report 2013 Special Edition: Widening Local Development Pathways. United Nations Development Programme and UNESCO. https://en.unesco.org/creativity/publications/creative-economy-report-2013-special-edition