ECONOMICS students are taught that "economics is about allocating the limited resources of societies to meet their unlimited wants". Countries’ resources are never enough for what their citizens desire. So, tough choices are required to determine what they can and cannot consume.
There is extensive literature across arts policy, economics and social science exploring at a conceptual level the relative merits and demerits of both direct and indirect subsidies to the arts generally and film industries specifically. This has yet to be translated into a similarly extensive
base of peer-reviewed empirical evidence to inform film subsidy policy. Nevertheless there are some early empirical analyses of their effectiveness and impacts in Australia, Italy and South Africa and some empirical observations on state level subsidy competition that has taken place in the USA in a bid to attract some film project investment to their locations. This presentation sets out the salient outcomes from this small body of evidence.
THE latest Reserve Bank Quarterly Bulletin confirms the sorry state of the South African economy. It also identifies strong headwinds that will hamper faster growth in the future