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Starting from year 2012, the Ministry of Culture was officially established, tasked with the management and the development of the cultural and creative industry, which has been endowed with official recognition henceforward. In the year 1995, the importance of the development of the culture and creative industry was first proposed by the Council of Cultural Affairs, currently known as Ministry of Culture, and now has been highly valued and sought by current Ministry, treated as one of the most important economic soft power for Taiwan in the future.
The process and the channel of the operation funding that can be raised through plays an important part in the development of the cultural and creative industry. The financing from financial institutions also plays a key role in the development of the companies in the industry. In this research, the utilized data set extends for 11 years, from year 2004 to 2014, which is based on the statistics on the SMEG credit issuance and the revenue of the industry observed by the Ministry of Culture, combined with the degree of the influences from other economic elements.
The conducted research utilizes the Ordinary Least Squares model(OLS), and inspected with autoregressive process of order oneAR(1), to analyze the industrial output related to the variables including credit issuance from financial institutions, the number of companies in the industry, personal loan balance, US dollar exchange rate, Taiwan stock index, CPI related to cultural and entertainment, and unemployment ratio. This research finds that the credit issuance from financial institutions has most significant influence on the industrial output with deferred periodical effects. In terms of other variables, both the number of companies in the industry and industrial average recurrent salaries have significant influence. Also, the trend analysis on the industrial output in the past five years shows negative relationship and is highly significant. | en_US |