Sauver les médias:Capitalisme, financement participatif et démocratie

Les médias sont en crise. Pas seulement la presse écrite, mais toute la chaîne de production de l’information. Confrontés à une concurrence croissante et à une baisse inexorable des recettes publicitaires, les journaux, les radios, les télévisions, les pure players sont tous à la recherche d’un nouveau modèle. Fondé sur une étude inédite des médias en Europe et aux États-Unis, ce livre propose de créer un nouveau statut de « société de média à but non lucratif », intermédiaire entre le statut de fondation et celui de société par actions. Ce statut permettrait d’œuvrer pour des médias indépendants des actionnaires extérieurs, des annonceurs et des pouvoirs publics, mais dépendants de leurs lecteurs, de leurs salariés et des internautes. Il s’agit d’un modèle économique adapté à la révolution numérique et aux enjeux du XXIe siècle. Le débat est ouvert : il en va, tout simplement, de l’avenir de notre démocratie. Normalienne, titulaire d’un doctorat de l’université de Harvard, Julia Cagé est professeur d’économie à Sciences Po Paris. Elle est également membre de la Commission économique de la nation. (résumé éditeur

Qui possède les médias ?

Qui possède les médias ? Il s’avère extraordinairement difficile de répondre à cette question simple. En France, l’ordonnance du 26 août 1944 du Conseil National de la Résistance rendait obligatoire – entre de multiples autres règles – la publication sur chaque exemplaire de journaux du nom des actionnaires et de leur profession. Ces règles n’ont, de fait, jamais été appliquées. Il est plus important que jamais d’améliorer les connaissances de la structure de l’actionnariat des médias d’information politique et générale. L’objectif de cette recherche est de mettre à jour, pour l’ensemble des médias d’information, la liste de leurs actionnaires ainsi que le secteur d’activité de ces derniers. Ce Policy Brief se concentre sur les cas de la France et de l’Espagne. Pour ces derniers, nous montrons que l’actionnariat des médias d’information se caractérise par sa complexité et son manque de transparence. De plus, une large part des actionnaires privés des médias tire l’essentiel de leurs ressources d’activités financières et d’assurance. En France, 51% des actionnaires des médias sont dans ce cas ; ils sont ainsi près de trois fois plus nombreux que les actionnaires issus du secteur de l’information et de la communication (18%). Au-delà de l’élargissement à d’autres pays, la prochaine étape logique de cette recherche consistera à mesurer l’impact de la structure de l’actionnariat sur la couverture médiatique

Media Competition, Information Provision and Political Participation

This paper investigates the impact of increased media competition on the quantity and quality of news provided and, ultimately, changes in political participation. Drawing from the literature on vertical product differentiation to model the production choices of newspapers, I show how an increase in the number of newspapers can decrease both the quantity and quality of news provided. I build a new county-level panel dataset of local newspaper presence, newspapers' costs and revenues and political turnout in France, from 1945 to 2012. I estimate the effect of newspaper entry by comparing counties that experience entry to similar counties in the same years that do not. These counties exhibit similar trends prior to newspaper entry, but newspaper entry then leads to substantial declines in the total number of journalists. More newspapers are also associated with fewer news articles and lower hard news provision. These effects are concentrated in counties with homogeneous populations, as predicted by the model, with little impact on counties with heterogeneous populations. Newspaper entry, and the associated decline in information provision, is ultimately found to decrease voter turnout

The Economics of the African Media

The focus of this chapter is on the economics of sub-Saharan African media. Using the history of sub-Saharan African newspapers as well as historical evidence from Europe and the United States, I study the emergence of market-oriented journalism and of an independent and informative press in sub-Saharan Africa. I document the extent to which sub-Saharan African newspapers have followed the same development steps than newspapers in other countries, moving from living off patronage and government favors to moving more towards mass sales and advertising revenues. I show that the story of the sub-Saharan African media is not a simple story of catching up and convergence. In particular, through the study of the economics of the sub-Saharan African media, I challenge traditional views of the media. I question the long-term sustainability of advertising-dependent media and discuss a new framework to improve the financial sustainability of mass media while preserving the independence of media outlets. I document the pros and cons of ownership concentration and argue in favor of the development of synergies between national and local newspapers as well as of the development of nonprofit media organizations

Newspapers in Times of Low Advertising Revenues

This paper puts the recent evolution of tax revenues in developing countries in historical perspective. Using a novel dataset on total and trade tax revenues we compare the fiscal cost of trade liberalization in developing countries and in today's rich countries at earlier stages of development. We find that trade liberalization episodes led to larger and longer- lived decreases in total tax revenues in developing countries since the 1970s than in rich countries in the 19th and early 20th centuries. The fall in total tax revenues lasts more than ten years in half the developing countries in our sample

The Fiscal Cost of Trade Liberalization

This paper puts the recent evolution of tax revenues in developing countries in historical perspective. Using a novel dataset on total and trade tax revenues we compare the fiscal cost of trade liberalization in developing countries and in today's rich countries at earlier stages of development. We find that trade liberalization episodes led to larger and longer-lived decreases in total tax revenues in developing countries since the 1970s than in rich countries in the 19th and early 20th centuries. The fall in total tax revenues lasts more than ten years in half the developing countries in our sample

The Long-Term Effects of the Printing Press in Sub-Saharan Africa

This article delves into the relationship between newspaper readership and civic attitudes, and its effect on economic development. To this end, we investigate the long-term consequences of the introduction of the printing press in the 19th century. In sub-Saharan Africa, Protestant missionaries were the first both to import the printing press technology and to allow the indigenous population to use it. We build a new geocoded dataset locating Protestant missions in 1903. This dataset includes, for each mission station, the geographic location and its characteristics, as well as the educational and health-related investments undertaken by the mission. We show that, within regions located close to missions, proximity to a printing press significantly increases newspaper readership today. We also document a strong association between proximity to a printing press and contemporary economic development. Our results are robust to a variety of identification strategies

Improving "National Brands": Reputation for Quality and Export Promotion Strategies

This paper studies the effect of firm and country reputation on exports when buyers cannot observe quality prior to purchase. Firm-level demand is determined by expected quality, which is driven by the dynamics of consumer learning through experience and the country of origin's reputation for quality. We show that asymmetric information can result in multiple steady-state equilibria with endogenous reputation. We identify two types of steady states: a high-quality equilibrium (HQE) and a low-quality equilibrium (LQE). In a LQE, only the lowest-quality and the highest-quality firms are active; a range of relatively high-quality firms are permanently kept out of the market by the informational friction. Countries with bad quality reputation can therefore be locked into exporting low-quality, low-cost goods. Our model delivers novel insights about the dynamic impact of trade policies. First, an export subsidy increases the steady-state average quality of exports and welfare in a LQE, but decreases both quality and welfare in a HQE. Second, there is a tax/subsidy scheme based on the duration of export experience that replicates the perfect information outcome. Third, a large reputation shock is self-fulfilling when the economy has multiple steady states. Finally, a minimum quality standard can help an economy initially in a LQE moving to a HQE, but is not necessarily welfare improving

Tax revenues, development, and the fiscal cost of trade liberalization, 1792-2006

This paper documents the fiscal cost of trade liberalization: the extent to which countries are able to recover the trade tax revenues lost from liberalizing trade by increasing tax revenues from other sources. Using a novel dataset on government revenues over the period 1792-2006 we compare the fiscal impact of trade liberalization in developing countries and in today’s rich countries at earlier stages of development. We find that trade liberalization episodes led to larger and longer-lived decreases in total tax revenues in developing countries since the 1970s than in rich countries in the 19th and early 20th centuries. Half the developing countries in our sample experience a fall in total tax revenues that lasts more than ten years after an episode. Results are similar when we consider government expenditures, suggesting decreases in trade tax revenues negatively affect governments’ capacity to provide public services in many developing countries

Improving “National Brands”: Reputation for Quality and Export Promotion Strategies

This paper studies the effect of firm and country reputation on exports when buyers cannot observe quality prior to purchase. Firm-level demand is determined by expected quality, which is driven by the dynamics of consumer learning through experience and the country of origin’s reputation for quality. We show that asymmetric information can result in multiple steady-state equilibria with endogenous reputation. We identify two types of steady states: a high-quality equilibrium (HQE) and a low-quality equilibrium (LQE). In a LQE, only the lowest-quality and the highest-quality firms are active; a range of relatively high-quality firms are permanently kept out of the market by the informational friction. Countries with bad quality reputation can therefore be locked into exporting low-quality, low-cost goods. Our model delivers novel insights about the dynamic impact of trade policies. First, an export subsidy increases the steady-state average quality of exports and welfare in a LQE, but decreases both quality and welfare in a HQE. Second, there is a tax/subsidy scheme based on the duration of export experience that replicates the perfect information outcome. Third, a minimum quality standard can help an economy initially in a LQE moving to a HQE