Henry Aray () (Department of Economic Theory and Economic History, University of Granada.) Luis Manuel García () (Department of Economic Theory and Economic History, University of Granada.)
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This article analyzes the effect of awards on the Spanish motion picture industry. We are interested in how production of both com¬pletely Spanish and coproduced films react to an Oscar award. We estimate a seemingly unrelated regression model controlling for the effect of other media, changes in the legislation governing Spanish cinema and business cycles. We find positive effects among the coefficients of the variables related to the Oscar significant up to the 10% level, with the highest coefficients being for films produced by Pedro Almodovar. We carry out a battery of tests and our findings suggest that completely Spanish movie production does not react to Oscar awards. However, the production of movies in association with foreign partners (coproduction) is positively affected though the effect differs for each Oscar.
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Paper provided by Department of Economic Theory and Economic History of the University of Granada. in its series ThE Papers with number
07/03.
Find related papers by JEL classification: Z12 - Other Special Topics - - Cultural Economics - - - Religion C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Bayesian Analysis
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