IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Democracy and economic outcomes: Evidence from the superstars of modern art

  • Hellmanzik, Christiane
Registered author(s):

    This paper analyses the impact of the political environment on the value of artistic outcomes as measured by the price of paintings produced over the period from 1820 to 2007. The analysis is based on a unique dataset encompassing a global sample of 273 superstars of modern art born between 1800 and 1945, auction results of their paintings, and data on the political environment in the respective production countries. Controlling for a variety of economic and hedonic variables, there is a statistically significant, positive link between the level of democracy and the value of artistic output. Moreover, we find that democracy has a significant positive impact both on the density of superstar painters and the collective artistic human capital in a country.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://www.sciencedirect.com/science/article/pii/S0176268013000025
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Article provided by Elsevier in its journal European Journal of Political Economy.

    Volume (Year): 30 (2013)
    Issue (Month): C ()
    Pages: 58-69

    as
    in new window

    Handle: RePEc:eee:poleco:v:30:y:2013:i:c:p:58-69
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505544

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. Fabian Waldinger, 2009. "Peer Effects in Science - Evidence from the Dismissal of Scientists in Nazi Germany," CEP Discussion Papers dp0910, Centre for Economic Performance, LSE.
    2. Karol Jan BOROWIECKI & John W. O'HAGAN, 2011. "War and Individual Creativity: Tentative Evidence in Relation to Composers," Trinity Economics Papers tep1711, Trinity College Dublin, Department of Economics.
    3. Graddy, Kathryn, 2006. "Art Auctions," Handbook of the Economics of Art and Culture, Elsevier.
      • Orley Ashenfelter & Kathryn Graddy, 2010. "Art Auctions," Working Papers 1212, Princeton University, Department of Economics, Center for Economic Policy Studies..
    4. Casey B. Mulligan & Ricard Gil & Xavier Sala-i-Martin, 2004. "Do democracies have different public policies than non-democracies?," Discussion Papers 0304-14, Columbia University, Department of Economics.
    5. Robert J. Barro, 1996. "Determinants of Economic Growth: A Cross-Country Empirical Study," NBER Working Papers 5698, National Bureau of Economic Research, Inc.
    6. Marianne Bertrand & Esther Duflo & Sendhil Mullainathan, 2004. "How Much Should We Trust Differences-in-Differences Estimates?," The Quarterly Journal of Economics, MIT Press, vol. 119(1), pages 249-275, February.
    7. Dani Rodrik, 1999. "Democracies Pay Higher Wages," The Quarterly Journal of Economics, MIT Press, vol. 114(3), pages 707-738, August.
    8. E. Han Kim & Adair Morse & Luigi Zingales, 2006. "Are Elite Universities Losing Their Competitive Edge?," NBER Working Papers 12245, National Bureau of Economic Research, Inc.
    9. de Haan, Jakob & Sturm, Jan-Egbert, 2003. "Does more democracy lead to greater economic freedom? New evidence for developing countries," European Journal of Political Economy, Elsevier, vol. 19(3), pages 547-563, September.
    10. David W. Galenson & Bruce A. Weinberg, 2001. "Creating Modern Art: The Changing Careers of Painters in France from Impressionism to Cubism," American Economic Review, American Economic Association, vol. 91(4), pages 1063-1071, September.
    11. Philippe Aghion & Alberto Alesina & Francesco Trebbi, 2007. "Democracy, Technology, and Growth," NBER Working Papers 13180, National Bureau of Economic Research, Inc.
    12. Ari Aisen & Francisco José Veiga, 2011. "How Does Political Instability Affect Economic Growth?," IMF Working Papers 11/12, International Monetary Fund.
    13. Klomp, Jeroen & de Haan, Jakob, 2009. "Political institutions and economic volatility," European Journal of Political Economy, Elsevier, vol. 25(3), pages 311-326, September.
    14. Roland Vaubel, 2005. "The Role of Competition in the Rise of Baroque and Renaissance Music," Journal of Cultural Economics, Springer, vol. 29(4), pages 277-297, November.
    15. David W. Galenson & Bruce A. Weinberg, 2000. "Age and the Quality of Work: The Case of Modern American Painters," Journal of Political Economy, University of Chicago Press, vol. 108(4), pages 761-777, August.
    16. Pierre Azoulay & Joshua S. Graff Zivin & Jialan Wang, 2010. "Superstar Extinction," The Quarterly Journal of Economics, MIT Press, vol. 125(2), pages 549-589, May.
    17. North, Douglass C., 1993. "Economic Performance through Time," Nobel Prize in Economics documents 1993-2, Nobel Prize Committee.
    18. Hellmanzik, Christiane, 2010. "Location matters: Estimating cluster premiums for prominent modern artists," European Economic Review, Elsevier, vol. 54(2), pages 199-218, February.
    19. Douglas James Hodgson, 2011. "Age-Price Profiles for Canadian Painters at Auction," CIRANO Working Papers 2011s-15, CIRANO.
    20. Barro, Robert J, 1996. " Democracy and Growth," Journal of Economic Growth, Springer, vol. 1(1), pages 1-27, March.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:eee:poleco:v:30:y:2013:i:c:p:58-69. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.