CEU Electronic Theses and Dissertations, 2015
| Author | Szabó, Luca Róza |
|---|---|
| Title | The Impact of the Global Financial Crisis on International Art Trade |
| Summary | The impressive performance of global art markets during the 2007-2008 financial recession has brought the topic into the forefront, although being a less frequently studied part of political economy. The present thesis focuses on the reasons for which art markets have recovered significantly faster respected to financial markets giving an insight in the European market – especially studying the case of France, Italy and Hungary. The paper aims to highlight the long-term benefits of investing in artworks, both from the part of private investors and the state. Its positive effects on global economy, the thesis assumes, come from the special character of art markets that gave the possibility of sustainable growth after the crisis. Art market movements during the recession studied in the present work shows the relevancy of the subject in terms of the potential contribution of art dealing to global economic growth. |
| Supervisor | Julius Horváth |
| Department | International Relations MA |
| Full text | https://www.etd.ceu.edu/2015/szabo_luca.pdf |
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