Identifying Emerging Creative Industries
A framework to better understand the overall implications of these key performance measures would be very helpful especially one that can clarify the notion of emerging industries and how they can be measured. A closely related framework in the economic development research tool box is the industry life cycle model. This model breaks industries in the economy into four generalized stages of life, starting with an emerging phase, moving to a base-growth industry phase, followed by a mature or transitioning phase and finally a declining phase. Of course, not all industries fit nicely into this notion, especially over short periods of time. However, with some qualifications, this notion of development stages can help us evaluate the status of the creative industry portfolio.