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EconomistsTalkArt.org

Research-based policy analysis and commentary

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andrejsr

Cultural economist, based in Ljubljana, Slovenia. Working as well in the areas of economics of ageing, macroeconomics and econometric theory and applications in general.

MAKING CULTURE CAPITAL: EVALUATING THREE DECADES OF THE EUROPEAN CAPITAL OF CULTURE

By Pedro Gomes and Alejandro Librero-Cano

We measure the regional impact of the European Capital of Culture programme using a difference-in-differences approach. GDP per capita in hosting regions is 4.5 % higher compared to non-hosting regions during the event, and the effect persists more than 5 years after it. This result suggests that the economic dimension of the event is important and supports claims that the event serves as catalyst for urban regeneration and development.

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EconomistsTalkArt.org “GOING ON VACATION”

By The Editorial Team

Dear Readers,

The “crew” of EconomistsTalkArt.org blog will be going on (hopefully deserved…) vacation during the summer break. We will be back in the second half of August with some of new outstanding and interesting posts based on recent works published in Journal of Cultural Economics, Poetics, International Journal of Arts Management, and more.

Do watch out, and in the meantime, if you are interested in our work, please do not hesitate to get in contact to us – blog(at)culturaleconomics(dot)org.

Wishing you pleasant holidays, full of culture and the arts, economics in all its forms, and (most of all) … fun! Enjoy.

The EconomistsTalkArt.org editorial team.

DONOR GOVERNANCE AND FINANCIAL MANAGEMENT IN PROMINENT US ART MUSEUMS

By David Yermack

In the article, we study “donor governance”, which occurs when contributors to nonprofit firms place restrictions on their gifts to limit the discretion of managers. In a study of US art museums, we find that when donor restrictions are strong, museums shift their cost structures away from administration and toward program services. Restricted donations also appear to stabilize nonprofits, but reduce management flexibility.

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FOR MUSEUMS, WITH RAIN COME CROWDS?

By Harold E. Cuffe

Weather is regarded as an important determinant of leisure choices, yet little attention has been paid to the ways that weather affects museum attendance. I find that rainfall generally increases attendance at a large national museum, on average. However, closer scrutiny of the data shows that weather can possess both encouraging and discouraging effects on attendance, depending upon the timing and persistence of the rain.

Continue reading “FOR MUSEUMS, WITH RAIN COME CROWDS?”

THE PRINCESS OF ASTURIAS FOUNDATION OR HOW A NON-PROFIT INSTITUTION CAN BE EFFICIENT

By Víctor Fernández-Blanco and Ana Rodríguez-Álvarez

Competition and the internal logic of markets induce cultural firms and institutions to be efficient when market oriented. But, what happens in the case of non-profit organizations? They are beyond the market and their internal logic does not guarantee economic efficiency. In our article we explore the technical and allocative efficiency of The Princess of Asturias Foundation and confirm its good performance over the years.

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CULTURALLY-BIASED VOTING IN THE EUROVISION SONG CONTEST: DO NATIONAL CONTESTS DIFFER?

By Julia Pannicke and Oliver Budzinski

Regarding the Eurovision Song Contest (ESC) there are numerous controversies about discriminating and tactical voting. People vote for their neighbor countries and for countries with cultural similarities instead of evaluating simply the musical performance. If these biases were caused by the diversity of the different countries, voting biases should be less important for a national music contest with substantially more homogenous contestants. The question arises of whether biased voting occurs as well. Do national contests differ regarding their voting behavior? Is biased voting maybe unavoidable?

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