Research-based policy analysis and commentary
By Belma Öztürkkal and Asli Togan-Egrican
Can art can be considered a safe haven during volatile times or a hedging option in general? we analyze long-term art auction sales data focusing on and around financial crisis periods in a volatile emerging market. Our findings suggest Turkish art returns are either negatively correlated or at low correlation with other investments, including the equity market.
Continue reading “THE ROLE OF ART INVESTMENT AS A HEDGE OR SAFE HAVEN”
By Elisa Salvador
Cultural Festivals are one of the most diffused examples of living production in all the fields of cultural and creative industries, attracting increasing attention in recent years. ESSCA School of Management, INGENIO-CSIC UPV, and the University of Valencia organised a two-day international Workshop on the 26-27 of November 2019 at Centre Cultural La Nau, Valencia (Spain). Researchers joined from all over the world to discuss the current context of cultural Festivals and the new avenues of research, including the digital challenge. Continue reading “CULTURAL FESTIVALS: STATE OF THE ART AND NEW AVENUES OF RESEARCH”
By Daniel Fujiwara, Ricky N. Lawton and Susana Mourato
This is the first economic study to value the wide range of benefits to individuals and the community provided by libraries in England, combining two economic methods for valuing culture: contingent valuation and subjective wellbeing analysis. A primary survey of around 2,000 library users and non-users shows the combined annual value of local library services is £723.4million. Library use is also positively associated with subjective wellbeing, suggesting that libraries have an important role in users’ quality of life.
Continue reading “MORE THAN A GOOD BOOK: CONTINGENT VALUATION OF PUBLIC LIBRARY SERVICES IN ENGLAND”
By Hans Abbing
Respect for art is high, also among those who do not consume serious art, though subsidy cuts testify of a decreasing respect for the “serious arts”. In spite of cuts, the so-called “excellent art”, like the very costly performances of certain high-end opera companies, continues to receive much public support —support of which almost exclusively well-to-do people profit. The performances are sometimes innovative, but not more than most of the less costly performances.
Continue reading “THE CHANGING SOCIAL ECONOMY OF ART, ARE THE ARTS BECOMING LESS EXCLUSIVE?”
By Sara Suarez‑Fernandez, Juan Prieto‑Rodriguez and Maria Jose Perez‑Villadoniga
Education is the socioeconomic variable that has the greatest (direct and indirect) impact on cultural participation. In this paper, we analyze the effect of education on cultural consumption once the impact of income is controlled for. We find that the effect varies between activities, with its marginal effect more relevant for highbrow activities than for popular culture. This result is consistent with the idea that highbrow cultural consumption involves the comprehension of more complex symbolic elements, and individuals’ decoding abilities depend more on education than on income. Continue reading “FROM POPULAR TO HIGHBROW CULTURE: THE CHANGING ROLE OF EDUCATION”
By Jesús Heredia-Carroza, Luis Palma Martos and Luis F. Aguado
This article analyzes the gap between the performer’s contribution to the flamenco work and the protection he/she obtains. We designed a methodology based on interviews with flamenco personalities and surveys of flamenco market agents which enabled us to obtain an approximation to the cultural valuation of the contribution of the three elements that constitute the flamenco work: palo (cultural heritage), author and performer. For the 25th anniversary of his death, we present a representative case focusing on the figure of Camarón de la Isla. Continue reading “FLAMENCO AND COPYRIGHT. THE CASE OF CAMARÓN DE LA ISLA”
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