_The Creative Wealth of Nations_

- “define the whole economy linked to the [cultural sector] and not just its more evident components,”

- “adopt rigorous methodologies comparable to those used to measure other industries in national accounts,” but bearing in mind that the cultural sector has multiple linkages; and

<u><mark>|| Box 11 || Satellite</mark></u> <mark>Accounts</mark>

“Satellite accounts provide a framework linked to the central accounts and which enables attention to be [focused] on a certain field or aspect of economic and social life in the context of national accounts; common examples are satellite accounts for the environment, or tourism, or unpaid household work.” **Source** : OECD

- “improve the accuracy and reliability of data on [cultural sector] to the extent where comparisons between national economies can be made.”<sup>203</sup>

In 2013, the Inter-American Development Bank (IDB) released <u>The Orange Economy: An Infinite Opportunity, a manual “written to introduce key concepts and areas of debate around the</u> ‘creative economy,’ ” (an area it considers “a valuable development opportunity for Latin America, the Caribbean and the world at large).”<sup>204</sup> In addition, in January 2014, IDB released a jointly commissioned report with the Organization of American States (OAS) and the British Council.

The report, called “The Economic Impact of the Creative Industries in the Americas,” is a “collation of existing quantitative data on the economic performance of the creative and cultural industries.”<sup>205</sup> It “surveys 44 countries—including 34 countries in the Americas and 10 benchmark countries from other regions around the world. It also recommends ways to improve and standardize national measurement frameworks to better track trends within and across countries and support more evidence-based policymaking.”<sup>206</sup> The database is available here: <u>bit.ly/Americas2013CIDatabase.</u> iv. Commission Oxford Economics or the World Bank’s own Development Economics Data Group (DECDG) and the Living Standards Measurement Study (LSMS) IDB’s approach provides a feasible example of what the WBG can do. The WBG could commission a study on ‘cultural data’ for certain regions or countries. This could be done with such entities as Oxford Economics or the World Bank’s own DECDG. For that reason, the WBG should encourage select countries to apply for grants from DECDG to collect data on the cultural industries. The LSMS under the Development Economics Research Group (DECRG) team may also be another group that could be commissioned to get involved with this work. This approach may contribute to the standardization (or harmonization) of the cultural sector’s statistical codes

> 203 These concepts are adapted from here: Alfred Franz, Peter Laimer and Mara Manente, “European Implementation Manual on Tourism Satellite Accounts,” European Commission, accessed May 14, 2014, <u>http://ec.europa.eu/eurostat/ramon/statmanuals/files/TSA_EIM_EN.pdf. In this manual, the performing arts are</u> provided under cultural services.

> 204 Iván Duque Márquez and Felipe Buitrago Restrepo, _The Orange Economy: An Infinite Opportunity_ , Inter- American Development Bank, 2013, accessed May 15, 2014, http://publications.iadb.org/handle/11319/3659?locale <u>attribute=en.</u>

> 205 “OAS, IDB, and British Council present the study ‘The Economic Impact of the Creative Industries in the Americas,’ ” Inter-American Development Bank, January 16, 2014, accessed May 16, 2014, <u>http://www.iadb.org/en/news/news-releases/2014-01-16/economic-impact-of-the-creative-industriesstudy,10735.html.</u>

> 206 Ibid.

<mark>52</mark>