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EconomistsTalkArt.org

Research-based policy analysis and commentary

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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DOES THE LONG-TAIL BENEFIT SMALL PUBLISHERS? EVIDENCE FROM THE FRENCH PUBLISHING INDUSTRY

By Stéphanie Peltier, Françoise Benhamou and Mamoudou Toure

Long tail

What does the long tail effect mean? In many industries, sales are concentrated on a few products in spite of the diversity of products available. The long-tail effect weakens the high level of concentration of sales. It compensates for a “winner-take-all” or a superstar phenomenon. But is there also a long-tail for small publishers?

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CAN TWO HEADS LEAD? THE ART VERSUS THE COMMERCE ORIENTED MANAGER IN FILM PROJECTS

By Joris Ebbers and Nachoem Wijnberg

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Film projects have a dual-leadership structure, based on a division of tasks between the director and the producer, with the former predominantly responsible for the artistic and the latter for the commercial aspects of the film. The 1st Assistant Director (1st AD), who is positioned hierarchically below and between these dual leaders, plays an important role in managing conflicts between art and commerce.

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TOURISTS AND MUSEUMS: WHEN LEISURE BECOMES LEARNING

By Juan Gabriel Brida, Chiara Dalle Nogare and Raffaele Scuderi

Are museums successful in their mission to disseminate culture, and as such, to be means for learning in the era of iconic consumption? Our findings seem to suggest that they can be places where informal learning occurs also for leisure-motivated tourists.

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