The Berlin Creative Industries
An Empirical Analysis of Future Key Industries
1. Auflage
Erschienen am 10. Mai 2010
149 Seiten
978-3-8349-8651-1 (ISBN)
Beschreibung
The Creative Industries have recently come into the focus of urban development strategies and economic policy. The driving force behind that was, amongst others, Richard Florida with his bestseller "The rise of the creative class and how it's tra- forming work, leisure, community, and everyday life". The Creative Industries are increasingly dynamic and growing three times faster than the economy in total. With respect to the economic value added, the Creative In- 1 dustries in Germany are absolutely comparable to the automotive industry. Nonetheless, for entrepreneurs it is often still easier to find financing opportu- ties for property, real estate and assets than for ideas and intangible assets. Thus, - vestitionsbank Berlin has been researching possibilities to finance the Creative Economy since several years. Many who are engaged in spurring the development of cities and regions, h- ever, come across various different definitions of the term "Creative Industries" and several approaches which cannot be exactly distinguished from one another. This might cause confusion.
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Weitere Ausgaben
Andere Ausgaben
Dieter Puchta | Friedrich Schneider | Stefan D. Haigner
The Berlin Creative Industries
An Empirical Analysis of Future Key Industries
Buch
04/2010
1. Auflage
Springer Gabler
53,49 €
Versand in 7-9 Tagen
Personen
Prof. Dr. Dieter Puchta is consultant for strategic business development.
Prof. Dr. Friedrich Schneider is Professor of Economics at Johannes Kepler University of Linz.
Dr. Stefan D. Haigner, Mag. Stefan Jenewein und Dr. Florian Wakolbinger are self-employed in applied economic research and lecturers at the Universities of Innsbruck and Linz.
Prof. Dr. Friedrich Schneider is Professor of Economics at Johannes Kepler University of Linz.
Dr. Stefan D. Haigner, Mag. Stefan Jenewein und Dr. Florian Wakolbinger are self-employed in applied economic research and lecturers at the Universities of Innsbruck and Linz.
Inhalt
1.- The Notion of Creative Industries.- On the Theory of Creative Industries.- An International Overview on the Creative Industries.- 2.- From Theory to Empirics.- The Berlin Creative Industries at a Glance.- The Creative Industries in Detail.- Excursus: Differences among Research Results.- 3.- Value Added and Employment.- Conclusions.- 4.- Instruments to Foster the Creative Industries.- Executive Summary.
9 Value Added and Employment (S. 85-86)
In part 2 of this study we have shown that the Creative Industries are an important and considerable sector within the Berlin Economy. In order to be able to investigate the potential of funding, sponsorship and support as part of economic policy, we will now analyze to which extent investment in the Creative Industries will boost the economic value added and employment. In order to exemplify our analysis we will refer to the venture capital Fund "VC Fonds Kreativwirtschaft Berlin"29 provided by Investitionsbank Berlin throughout the chapter.
This fund aims at providing capital for creative projects and is anticipated to be available until 2015. The investors plan to supply the Berlin Creative Industries with capital of " 3,75 mn. per year. In addition to Investitionsbank Berlin, the European Regional Development Fund (ERDF) will contribute to the venture capital Fund. Moreover, the investors plan to supplement every venture capital holding by additional private investments of at least 100% of the fund's money, so that the total volume of provided capital is " 7,5 mn. (Keuper et al., 2008).
Here, we will estimate the economic effects of such an engagement. It is in this context reasonable to assume that the investment throughout the years will result in additional income that is considerably higher than the capital expenditure. Moreover, we expect increasing employment or a reduction of unemployment respectively. We will perform our investigations by employing the Berlin Economic Simulation Tool BEST. This tool is essentially a regional macroeconometric model which has been developed by Kollmann et al. (2006) on behalf of Investitionsbank Berlin. It images the Berlin Economy and will be described in the following section.
9.1 The Model
The Berlin Economic Simulation Tool BEST is a regional macroeconometric model which images the Berlin Economy by means of a system of multiple equations. Its properties make BEST the ideal tool to analyze the effects of the economic activities of Investitionsbank Berlin. As such, it is suitable to investigate the consequences of issuing venture capital within the VC Fund "Kreativwirtschaft Berlin". Each simulation performed by BEST is essentially a comparison between two scenarios.
The benchmark scenario is the status quo, a situation without any investment capital provided. It is typically called the "business-as-usual scenario". The second scenario is a situation involving an exogenous change of various macroeconomic variables. The results of such changes - which are, from a macroeconomists point of view - denoted as "economic shocks" (Kollmann et al., 2006) - are simulated by BEST. The economic effects calculated by BEST always relate to a comparison with the business-as-usual scenario.
In part 2 of this study we have shown that the Creative Industries are an important and considerable sector within the Berlin Economy. In order to be able to investigate the potential of funding, sponsorship and support as part of economic policy, we will now analyze to which extent investment in the Creative Industries will boost the economic value added and employment. In order to exemplify our analysis we will refer to the venture capital Fund "VC Fonds Kreativwirtschaft Berlin"29 provided by Investitionsbank Berlin throughout the chapter.
This fund aims at providing capital for creative projects and is anticipated to be available until 2015. The investors plan to supply the Berlin Creative Industries with capital of " 3,75 mn. per year. In addition to Investitionsbank Berlin, the European Regional Development Fund (ERDF) will contribute to the venture capital Fund. Moreover, the investors plan to supplement every venture capital holding by additional private investments of at least 100% of the fund's money, so that the total volume of provided capital is " 7,5 mn. (Keuper et al., 2008).
Here, we will estimate the economic effects of such an engagement. It is in this context reasonable to assume that the investment throughout the years will result in additional income that is considerably higher than the capital expenditure. Moreover, we expect increasing employment or a reduction of unemployment respectively. We will perform our investigations by employing the Berlin Economic Simulation Tool BEST. This tool is essentially a regional macroeconometric model which has been developed by Kollmann et al. (2006) on behalf of Investitionsbank Berlin. It images the Berlin Economy and will be described in the following section.
9.1 The Model
The Berlin Economic Simulation Tool BEST is a regional macroeconometric model which images the Berlin Economy by means of a system of multiple equations. Its properties make BEST the ideal tool to analyze the effects of the economic activities of Investitionsbank Berlin. As such, it is suitable to investigate the consequences of issuing venture capital within the VC Fund "Kreativwirtschaft Berlin". Each simulation performed by BEST is essentially a comparison between two scenarios.
The benchmark scenario is the status quo, a situation without any investment capital provided. It is typically called the "business-as-usual scenario". The second scenario is a situation involving an exogenous change of various macroeconomic variables. The results of such changes - which are, from a macroeconomists point of view - denoted as "economic shocks" (Kollmann et al., 2006) - are simulated by BEST. The economic effects calculated by BEST always relate to a comparison with the business-as-usual scenario.
