Globalization and the rise of action movies in hollywood

Tin Cheuk Leung and Shi Qi ()
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Tin Cheuk Leung: Wake Forest University
Shi Qi: William and Mary

Journal of Cultural Economics, 2023, vol. 47, issue 1, No 2, 69 pages

Abstract: Abstract This paper shows that Globalization contributes significantly to the rise of Action movies in Hollywood. Incorporating both the intensive and extensive margins in trade, this paper develops a structural model to allow movie-quality production heterogeneity across genres and countries. The paper finds that Hollywood studios respond to export-market expansion by tailoring their products to international consumers’ preferences. As a result, Hollywood increasingly focuses on a few blockbusters, overwhelmingly in the Action genre. The movie industry becomes significantly more concentrated both domestically and abroad. Furthermore, a disproportionate increase in Action movies raises consumer welfare in some countries at other regions’ expense.

Keywords: Globalization; Movies; Budget reallocation; Quality heterogeneity (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s10824-021-09438-z

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