Governance Quality and the Creative Economy: A Multi-dimensional Analysis of Asian Countries

Cong Minh Huynh ()

MPRA Paper from University Library of Munich, Germany

Abstract: This study investigates the multidimensional effects of governance quality on the development of the creative economy in 31 Asian countries over the period 2002–2023. Employing fixed-effects (FE) estimations and the System Generalized Method of Moments (System GMM) to address endogeneity and dynamic panel bias, the findings reveal that all dimensions of governance quality exert positive and statistically significant effects on creative economy performance, although their magnitudes differ substantially across dimensions. Control of corruption, government effectiveness, and regulatory quality emerge as the most influential drivers, while rule of law, political stability, and voice and accountability also play important roles in expanding and sustaining creative economic activities. These results reaffirm the central importance of governance as an institutional foundation for creative economy development and highlight the complementarity - rather than substitutability - among governance pillars. By providing comprehensive quantitative evidence for Asia, this study contributes to the literature and offers policy-relevant insights for fostering innovation, strengthening commercialization capacity, and unlocking the creative potential of Asian economies.

Keywords: Governance quality; creative economy; control of corruption; government effectiveness; regulatory quality; Asia. (search for similar items in EconPapers)
JEL-codes: C33 L82 O43 O57 Z11 (search for similar items in EconPapers)
Date: 2026-01-02
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