The Rise and Fall of Festivals: Reflections on the Salzburg Festival

Bruno Frey

No 48, IEW - Working Papers from Institute for Empirical Research in Economics - University of Zurich

Abstract: The paper takes a closer look at cultural festivals such as musical or operatic festivals. From an economic viewpoint the paper shows that such festivals offer great artistic and economic opportunities, but that at the same time these opportunities are also easy to destroy. Empirical evidence from the Salzburg Festival show that government support can have negative effects on the innovative and economically success of festivals by introducing distorting incentives and imposing all sorts of restrictions. The paper draws policy suggestions on how the state can support art festivals.

Keywords: cultural economics; festivals; opera; government support; subsidies; regulation (search for similar items in EconPapers)
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:zur:iewwpx:048

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