Creative economy, social capital, and economic diversification: pathways to climate adaptation readiness
摘要
Asia faces escalating climate risks, yet the role of creative sectors in shaping adaptation readiness remains underexplored. This study examines how the creative economy is associated with national climate adaptation readiness, both directly and through social capital and economic diversification. Using panel data for 31 Asian countries (2002–2023), we estimate a dynamic mediation framework combining fixed effects and System-GMM to address heterogeneity and endogeneity. Results indicate that creative-economy development is positively associated with adaptation readiness. Notably, the creative economy is positively related to social capital and economic diversification, and both mediators are in turn associated with higher levels of climate adaptation readiness. Decomposition analyses suggest that a substantial share of this relationship operates through these indirect pathways, although such effects should be interpreted with caution. The findings highlight the potential role of creative-sector development as a complementary component of broader adaptation strategies.