ИСТИНА

The development of creative economy has become crucial in the context of such trends as automatization, structural unemployment and sustainable regional growth. In this report we aim at understanding how the creative economy influences productivity in Russian regions. We estimate the impact of creative economy development on productivity using econometric models, specifically the Generalized Method of Moments (GMM). We use regional data from Russia to analyze the relationship between creative economy and productivity. Empirical results indicate that the development of the creative economy has a significant and positive impact on productivity. Additionally, we find a negative interaction effect of the simultaneous development of the creative economy and urban environments, suggesting the need for balanced policy approaches.