Creative industries: Economic growth and labor markets

Abstract

This paper shows the results of the first stage of the study of the creative industries’ sector in the regional context. The state institutions of performing arts – theaters and concert organizations – were chosen as the basis for the analysis. The statistics of functioning of these sectors of economic activity is considered and the hypothesis about the presence of Baumol’s «price disease» law is tested. We are proposing the clusterization of regions by the main indicators of this sector of creative industries. In particular, the Subjects of Russian Federation have been grouped according to the average wage, labor productivity and price index in the institutions compared to the level of these indicators in the regions as a whole. The study provides a brief description of the model of composite factors used to form three factors that characterize the activity of theater and concert organizations. The factors themselves are based on the performance of the institutions for 2012–2020. The use of the information model of composite factors allowed to study the influence of the formed indicators on the economic growth in the considered industries with regression models. The study confirmed the assumption about the influence of labor markets and intangible assets on the economic development of relevant cultural organizations.