How to Become a Creative City?

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How to Become a Creative City?

• Stephen Yan-Leung Cheung
• City University of Hong Kong

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Content

1. The needs for innovation
2. How innovative Hong Kong is?
3. Ways forward

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Foundations of Past Successful

• Stable macro-economic environment
• More open economy
• High saving and investment rates
• Educated work force

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Changes

• Economic Role of China
• Sources of Growth

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Implications for Development Policy

• Innovations are needed
• How Hong Kong will cultivate creatively within
  our economy

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Knowledge Assessment Methodology (World Bank)

• Performance Indicators
• Economic Incentives and Institutional Regime
• Education and Human Resources
• Innovation System
• Information Infrastructure

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Basic Scorecard Hong Kong (I)
Source World Bank 2004 Knowledge Assessment
Methodology
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Basic Scorecard Hong Kong (II)
Source World Bank 2004 Knowledge Assessment
Methodology
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Knowledge Economy Index
Source World Bank 2004 Knowledge Assessment
Methodology
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Ingredients

• Human Capital
• Investment

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Ingredients

• Human Capital (?)
• Investment (?)

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Human Capital

• Education
• 334
• Creative abilities
• Student participation
• Questioning
• Debate
• Import talented people

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Research and Development

• Role of Government
• Role of private sector
• Role of universities
• Participation of intellectual property rights
• Incentives
• Tax incentives
• Competition
• China
• ? Win-win situation

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International Evidence on RD Expenditure

• Total RD Expenditure
• Source OECD, MSTI.

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International Evidence on RD Expenditure

• Government Expenditure
• Source OECD, MSTI.

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International Evidence on RD Expenditure

• Private Expenditure
• Source OECD, MSTI.

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• People with ideas - people who own ideas - have
  become more powerful than people who work
  machines and, in many cases, more powerful than
  the people who own machines.
• The Creative Economy, John Howkins

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• END