The Impact of ICT on Industrial Music Business: A Cross Country Evidence

Document Type : Research Paper

Authors

1 Assistant Professor of Economics, Azad University, Firouzkooh Branch

2 Ph.D. Student inManagement, Oxford University- Tehran Center

Abstract

The penetration of internet and new technologies during the last decade has significantly influenced many industries particularly the music industry. The purpose of this paper is to evaluate the impact of information and communications technology on the income of industrial music. For this reason, we study the data on 20 countries obtained from the International Federation of Record Industry for the period 2004-2012. We first examine the statistical characteristic of the data by conducting the unit root, dependence, and heterogeneity of variance tests. We then estimate the econometric models specified using the fixed effects panel data for both macro and individual ICT indicators. Results show that music is a luxury good, and demand for music increases withhigher income. The impacts of both macro and individual ICT indicators on the income of music industry arealso negative and significant.
 JEL Classification: L86، L82، L96، Z11.

Keywords

References

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new economy and trad
Volume 13, Issue 1
May 2018
Pages 117-139

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History

  • Receive Date: 10 February 2017
  • Revise Date: 15 May 2017
  • Accept Date: 05 June 2017

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