Development of the creative economy, its relationship with the innovation economy in the Republic of Belarus

Abstract

Creative economy – an economy that embodies new ideas in a product and formed by the synergetic effect of innovations. This economy is closely interlinked with the innovation economy, which presupposes a certain strategy for the development of scientific and technological developments. It is also important to note the high role and specificity of financing in this area: a common assessment is formed through various types of agreements and agreements between countries. In addition, the creative economy depends directly on the creative product, and its basis is intellectual property. As for the Republic of Belarus, according to the Martin Prosperity Institute (USA), our country ranked 37th in the Global creativity index, the highest indicator among the CIS countries. According to the World Intellectual Property organization (WIPO), Belarus increased its rating by 14 positions in 2019 and took the 72nd place out of 129 economies in the world. Thus, Belarus is currently only at the initial stage of formation of a creative economy, but has a high potential for development in this area, taking into account the increase in innovative developments and attracting investments from abroad.