- Creative industries during economic recession: the case of Riga
- Regional Studies, Regional Science
- Volume | Issue number
- 1 | 1
- Pages (from-to)
- Document type
- Faculty of Economics and Business (FEB)
- Amsterdam School of Economics Research Institute (ASE-RI)
Against the backdrop of research and policy advocating the growth potential of creative industries’ sectors in advanced economies, this article examines the performance of creative industries during economic crisis in a less advanced European city-region: Riga in Latvia. It discusses the data on entrepreneurial activity, employment, turnover and value-added of creative industries relative to the economy on average between 2007 and 2010. The results show that creative industries as a whole underperform compared with the economy on average during recession, however not all subsectors show the same patterns. Hence, it is suggested that a more sector- and place-specific approach would benefit both policy-making and research dealing with the role of creative industries in economic development.
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