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The Tale of the Cuts and Raises: Public Budgets for Culture in the European Countries During the Financial Crisis

Author

Listed:
  • Andrej Srakar

    (University of Ljubljana)

  • Marilena Vecco

    (Université Bourgogne Franche-Comté)

  • Ákos Tóth

    (Researcher in Cultural Economics, Hungary)

Abstract

The article examines to what extent the public financing of the cultural sector was different, compared to other economic sectors of the economy in crisis. We perform an econometric analysis on the Eurostat COFOG dataset for 29 European countries in years 1990-2014. The results show that cuts in the cultural sector were present at general, central and local levels, yet happened with different characteristics than for other sectors of the economy. Also, the dynamics of public budgets for culture during the crisis significantly differed across the analysed countries and cuts were not present on a uniform level.

Suggested Citation

  • Andrej Srakar & Marilena Vecco & Ákos Tóth, 2017. "The Tale of the Cuts and Raises: Public Budgets for Culture in the European Countries During the Financial Crisis," Hacienda Pública Española / Review of Public Economics, IEF, vol. 221(2), pages 83-109, June.
    • Handle: RePEc:hpe:journl:y:2017:v:221:i:2:p:83-109
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    References listed on IDEAS

    as
    1. Heilbrun,James & Gray,Charles M., 2001. "The Economics of Art and Culture," Cambridge Books, Cambridge University Press, number 9780521637121.
    2. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July.
    3. Victor Ginsburgh & David Throsby, 2006. "Handbook of the economics of art and culture," ULB Institutional Repository 2013/1673, ULB -- Universite Libre de Bruxelles.
    4. Maurice J. G. Bun & Frank Windmeijer, 2010. "The weak instrument problem of the system GMM estimator in dynamic panel data models," Econometrics Journal, Royal Economic Society, vol. 13(1), pages 95-126, February.
    5. Bruce A Seaman, 2011. "Economic Impact of the Arts," Chapters, in: Ruth Towse (ed.), A Handbook of Cultural Economics, Second Edition, chapter 28, Edward Elgar Publishing.
    6. Morten O. Ravn & Harald Uhlig, 2002. "On adjusting the Hodrick-Prescott filter for the frequency of observations," The Review of Economics and Statistics, MIT Press, vol. 84(2), pages 371-375.
    7. Andrej Srakar & Vesna Čopič & Miroslav Verbič, 2018. "European cultural statistics in a comparative perspective: index of economic and social condition of culture for the EU countries," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 42(2), pages 163-199, May.
    8. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 277-297.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Gratiela Georgiana Noja & Mirela Cristea & Eleftherios Thalassinos & Marta Kadłubek, 2021. "Interlinkages between Government Resources Management, Environmental Support, and Good Public Governance. Advanced Insights from the European Union," Resources, MDPI, vol. 10(5), pages 1-23, April.
    2. Andrej Srakar & Vesna Čopič & Miroslav Verbič, 2018. "European cultural statistics in a comparative perspective: index of economic and social condition of culture for the EU countries," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 42(2), pages 163-199, May.

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    More about this item

    Keywords

    European Countries; Public budgets for culture; Financial crisis; Blundell-Bond models; Institutional quality.;
    All these keywords.

    JEL classification:

    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
    • Z18 - Other Special Topics - - Cultural Economics - - - Public Policy
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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