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Subsidies and Awards in Movie Production

Author

Listed:
  • Betty Agnani

    (Department of Economic Theory and Economic History, University of Granada.)

  • Henry Aray

    (Department of Economic Theory and Economic History, University of Granada.)

Abstract

This article analyzes the effect of subsidies and awards on the Spanish motion picture industry. We estimate a Cobb-Douglas production function using regional data, showing that it exhibits constant returns to scale and that awards positively affect movie production, while subsidies have no effect. In fact, awards affect the productivity of the sector since they allow for an increase in the output, which is not explained by an increase in inputs.

Suggested Citation

  • Betty Agnani & Henry Aray, 2008. "Subsidies and Awards in Movie Production," ThE Papers 08/16, Department of Economic Theory and Economic History of the University of Granada..
    • Handle: RePEc:gra:wpaper:08/16
    as

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    File URL: http://www.ugr.es/~teoriahe/RePEc/gra/wpaper/thepapers08_16.pdf
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    References listed on IDEAS

    as
    1. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    2. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(1), pages 83-116.
    3. Eva Deuchert & Kossi Adjamah & Florian Pauly, 2005. "For Oscar Glory Or Oscar Money?," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 29(3), pages 159-176, August.
    4. Gérard Lassibille & María Lucía Navarro Gómez, 1998. "The evolution of returns to education in Spain 1980-1991," Post-Print halshs-01267410, HAL.
    5. Christian Jansen, 2005. "The Performance of German Motion Pictures, Profits and Subsidies: Some Empirical Evidence," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 29(3), pages 191-212, August.
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    Cited by:

    1. Agnani, Betty & Aray, Henry, 2016. "Effects of Oscar awards on movie production," Economics Discussion Papers 2016-8, Kiel Institute for the World Economy (IfW Kiel).
    2. Henry Aray, 2021. "Oscar awards and foreign language film production: evidence for a panel of countries," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 45(3), pages 435-457, September.
    3. Jordi McKenzie, 2023. "The economics of movies (revisited): A survey of recent literature," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 480-525, April.

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    More about this item

    Keywords

    Movie production; awards; panel data;
    All these keywords.

    JEL classification:

    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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