Traditional Gravity Model of International Trade in Art

Abstract

In the paper the author takes up the issue of modelling international trade in works of art. The gravity approach to the international trade in art in 27 European Community countries has been presented. The analysis is based on Eurostat international trade database Comext (Harmonised System for export and import chapter 97 – works of art, collectors’ pieces and antiques, including the following kinds of works of art: paintings, drawings and pastels; collages, graphic arts, sculptures and antiques). The gravity models are based on nonlinear (power function) regression made in Statistica 9.0 software. Using the mentioned model the author explains the influence of GDP of considered countries and distances between them on total export and import of art in the period 2003-2012. It has been proven in the paper that gravity models of international trade, which have been successfully applied to description of international trade with different types of goods and services, may also be used with respect to such specific commodities as works of art. According to obtained results the power regression models explain about a half of variability of international trade in art by means of three independent variables, i.e: GDP of country i, GDP of country j and distance between countries i and j.