Global convergence and the challenges to cultural policy

The creative economy, centred on the creative or cultural industries, is rapidly becoming recognised as a significant contributor to employment, trade and economic growth in the economies of both industrialised and developing countries. This paper outlines the structure of the creative economy and discusses the positive and negative aspects of the creative industries' role in the larger macroeconomy. The paper goes on to consider the ways in which policies towards the cultural industries have evolved under conditions of globalisation, and concludes with an assertion of the core role of the arts and of the generation of cultural value in any policy strategy.