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Dynamics of the global fine art market prices

Author

Listed:
  • Eric Le Fur

    (Larefi - Laboratoire d'analyse et de recherche en économie et finance internationales - UB - Université de Bordeaux)

Abstract

This article examines the short- and long-run linkages among art market indexes between 1998 and 2016 using cointegration procedures, the Granger noncausality test and the Error Correction Model. These art indexes are examined by category: global, art method, time, and currency/country. The results indicate that there are a few causal linkages between art market indexes, notably that there is feedback between a few markets. These moderate causal links between art market indexes would indicate that there are many opportunities for diversification for practitioners, investors and collectors.

Suggested Citation

  • Eric Le Fur, 2019. "Dynamics of the global fine art market prices," Post-Print hal-03930331, HAL.
    • Handle: RePEc:hal:journl:hal-03930331
    DOI: 10.1016/j.qref.2019.05.014
    as

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    Keywords

    Art; Cointegration; Dynamics; Index;
    All these keywords.

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