Institutional Change and the Evolution of the World Leisure Industries

Abstract:

I explore the changing institutions of leisure and their dynamic relationship with the evolution of the world leisure industries through an analytical framework that incorporates the theory of institutional change of Paul Dale Bush and related evidence worldwide. I find a ceremonial-instrumental dichotomy in terms of the forces that enter the different phases of institutional change and the receptivity of the markets. Since the mid-twentieth century, the world leisure industries have rapidly advanced because they are not only interactively promoted by an increasing number of mass leisure institutions, but also due to technological advancements and industrial innovations. Indeed, the development paths of these industries in different countries are influenced by institutional factors, such as public interests, culture, and education, and their interactions and changes over time. Given that the paths may not be so straightforward, my findings show that Bush’s related works provide a synthetic framework which deserves further examination in the economics of leisure.

Keywords::

• advancements in technology
• industrial innovation
• institution
• institutional change
• mass leisure
• leisure industry
• technological innovation

JEL Classification Codes::

• B52
• L83
• L88
• M21

Notes

¹ The second industrial revolution went through a period of inventions and applications of new energy and production methods from 1870 to the beginning of WWI in 1914.

² The central idea behind the “One Belt, One Road” initiative is to construct “a Silk Road Economic Belt and a 21st Century Maritime Silk Road” between China and various countries in Asia, Europe, and Africa (Cai 2017) for mutual and long-term economic growth. Different large-scale infrastructure construction projects and trade collaborations have been and will be carried out.

Additional information

Notes on contributors

Ricardo C.S. Siu

Ricardo C.S. Siu is an associate professor of business economics at the University of Macau (China). The author acknowledges the conference grant, approved by the Faculty of Business Administration at the University of Macau, which allowed him to participate in the AFEE/ASSA 2018 annual meeting in Philadelphia (PA) to present this article.