GDP and Remuneration Growth: Comparison of the Creative Industries and the Manufacturing Industry

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F21%3APU142735" target="_blank" >RIV/00216305:26510/21:PU142735 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.esd-conference.com/upload/book_of_abstracts/Book_of_Abstracts_esdZagreb2021_Online.pdf" target="_blank" >https://www.esd-conference.com/upload/book_of_abstracts/Book_of_Abstracts_esdZagreb2021_Online.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

GDP and Remuneration Growth: Comparison of the Creative Industries and the Manufacturing Industry

Popis výsledku v původním jazyce

This article aims to determine the relationship between the GDP growth time series of a particular sector of the economy and the average remuneration growth time series in that specific sector of the economy. More precisely, the article aims to determine whether the GDP growth time series can be used to forecast remuneration growth. Over the last three decades, the countries of Central Europe have undergone significant development. Historically, heavily industrialized countries are now converging at different speeds towards a knowledge-based economy. The article compares two vastly different sectors of the economy in the Czech Republic, namely, the manufacturing industry and the creative industries, which belong to the knowledge economy. The relationship analysis between the GDP growth time series and the average remuneration growth time series was achieved through the Granger causality test. Even though the statistical analysis did not confirm the possibility of predicting remuneration growth through GDP growth, findings from thetime series analysis confirmed multiple multinational trends in the Czech Republic. The first one is the more dynamic growth of the creative industries sector compared to the manufacturing industry. The second is slower average remuneration growth in the creative industries compared to the manufacturing industry, which suggests the questionable treatment of the creative labour.

Název v anglickém jazyce

GDP and Remuneration Growth: Comparison of the Creative Industries and the Manufacturing Industry

Popis výsledku anglicky

This article aims to determine the relationship between the GDP growth time series of a particular sector of the economy and the average remuneration growth time series in that specific sector of the economy. More precisely, the article aims to determine whether the GDP growth time series can be used to forecast remuneration growth. Over the last three decades, the countries of Central Europe have undergone significant development. Historically, heavily industrialized countries are now converging at different speeds towards a knowledge-based economy. The article compares two vastly different sectors of the economy in the Czech Republic, namely, the manufacturing industry and the creative industries, which belong to the knowledge economy. The relationship analysis between the GDP growth time series and the average remuneration growth time series was achieved through the Granger causality test. Even though the statistical analysis did not confirm the possibility of predicting remuneration growth through GDP growth, findings from thetime series analysis confirmed multiple multinational trends in the Czech Republic. The first one is the more dynamic growth of the creative industries sector compared to the manufacturing industry. The second is slower average remuneration growth in the creative industries compared to the manufacturing industry, which suggests the questionable treatment of the creative labour.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50204 - Business and management

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2021

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Economic and Social Development (Book of Abstracts), 76th International Scientific Conference on Economic and Social Development - "Building Resilient Society"

ISBN

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ISSN

1849-7543

e-ISSN

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Počet stran výsledku

44

Strana od-do

9-10

Název nakladatele

Varazdin Development and Entrepreneurship Agency, University North

Místo vydání

Zagreb

Místo konání akce

Zagreb

Datum konání akce

17. 12. 2021

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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