Abstract

Abstract. Purpose – the aim of the article is to present the concept of cultural economics upon analysing the scientific literature and to single out the factors that influence the development of cultural economics. Research methodology – analysis and synthesis of scientific literature. The articles published in CA WoS were analysed in order to extract high-quality information on the topic of cultural economics. Findings – after analysis of the scientific literature, the factors of cultural economics have been determined. They are as follows: creativity; new technologies; consumer society; public authorities; artistic forms; media, information, digitisation; local cultural identity; public sector approach to culture; theatre, cinema, museums, crafts; media, social networks; the needs for a consumer society and culture; public sector funding for culture. Research limitations – the main limitation of the current research is that the factors of cultural economics are distinguished from the scientific literature. For more precise identification, the experts should be interviewed as well. Practical implications – the distinguished factors could be used for measurement of the level of a country’s cultural economics level. Originality/Value – the article summarises

Highlights

  • In the face of globalisation processes, with the ever-increasing consumerism trends in society, the consumption of culturally produced products has increased significantly, and more and more attention is being paid to the impact of these products on national economies (Barrado-Timón et al, 2020; Gao et al, 2020)

  • In order to better understand the concept of cultural economics, it does not suffice to present its definitions in the scientific literature; it is essential to single out the factors that influence the development of cultural economics, as they affect the development of new cultural economics services and products, creating added value

  • Upon analysing the descriptions of cultural economics in the scientific literature, it was found that cultural economics is a vast field of research, covering many areas of society, and this influences the lack of a unified approach of authors to the concept of cultural economics

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Summary

Introduction

In the face of globalisation processes, with the ever-increasing consumerism trends in society, the consumption of culturally produced products has increased significantly, and more and more attention is being paid to the impact of these products on national economies (Barrado-Timón et al, 2020; Gao et al, 2020). The authors research the influence of culture on the attractiveness of the region, attracting foreign investment, developing tourism, and evaluate the attitude of local government to cultural economics, analyse the allocation of government funding to culture (Barrado-Timón et al, 2020; Karimzadi, 2019; Roberts & Townsend, 2016; Wiśniewska et al, 2020). All these cultural economics studies are fragmentary, and no unified concept of cultural economics is proposed. The second part will review the factors that influence cultural economics

Concept of cultural economics
Factors affecting cultural economics
Conclusions
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