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Creative industries and economic performance: Should South Africa go to the movies?

Andrew Phiri ()

No 2002, Working Papers from Department of Economics, Nelson Mandela University

Abstract: Creative industries have been recently considered as a possible avenue for improving economic performance. Our study focuses on the film sector and its influence on the South African economic growth, per capita income and employment. Our autoregressive lag distributive (ARDL) estimates on a log-linearized endogenous growth model augmented with creative capital indicate that the production of movies has no significant effects on long-run GDP growth, per capita GDP and employment. We only find a short-run positive and significant influence of film production on per capita income. However, re-estimating the regressions with interactive terms between movie production and i) government spending ii) foreign direct investment, improve the significance of film regression coefficients which all turn positive and significant over the long-run equilibrium. Policy implications based on our empirical findings are discussed.

Keywords: Creative sector; Film production; Economic activity; Autoregressive distributive lag (ARDL) model; South Africa. (search for similar items in EconPapers)
JEL-codes: C32 C51 L82 O40 Z11 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2020-01, Revised 2020-01
New Economics Papers: this item is included in nep-cul and nep-gro
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